Barclays Boosts Tenet Healthcare (NYSE:THC) Price Target to $147.00

Tenet Healthcare (NYSE:THC) had its price target raised by Barclays from $113.00 to $147.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently issued reports on THC. Royal Bank of Canada upped their target price on Tenet Healthcare from $109.00 to $136.00 and gave the company an outperform rating in a research report on Wednesday. TheStreet raised Tenet Healthcare from a c+ rating to a b- rating in a report on Tuesday, February 6th. Wells Fargo & Company upped their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Mizuho reissued a buy rating and set a $130.00 price objective (up from $118.00) on shares of Tenet Healthcare in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $104.00 target price on shares of Tenet Healthcare in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Buy and an average target price of $113.19.

Tenet Healthcare Price Performance

THC stock opened at $120.28 on Thursday. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 4.67, a PEG ratio of 1.20 and a beta of 2.09. Tenet Healthcare has a fifty-two week low of $51.04 and a fifty-two week high of $121.72. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The business has a 50 day moving average price of $100.37 and a 200 day moving average price of $82.40.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the prior year, the business posted $1.42 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Tenet Healthcare will post 8.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the sale, the executive vice president now directly owns 29,803 shares in the company, valued at approximately $2,889,698.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the sale, the executive vice president now owns 29,803 shares in the company, valued at $2,889,698.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,416 shares of company stock valued at $5,890,793. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Tenet Healthcare by 0.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock valued at $1,325,000 after acquiring an additional 90 shares in the last quarter. Violich Capital Management Inc. lifted its holdings in Tenet Healthcare by 3.2% in the 1st quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock valued at $355,000 after purchasing an additional 105 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Tenet Healthcare by 17.0% during the first quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock worth $77,000 after buying an additional 106 shares in the last quarter. Yousif Capital Management LLC lifted its stake in shares of Tenet Healthcare by 0.3% during the fourth quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock valued at $3,236,000 after buying an additional 131 shares during the period. Finally, SummerHaven Investment Management LLC boosted its position in Tenet Healthcare by 1.7% during the fourth quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock worth $656,000 after acquiring an additional 145 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.