Tenet Healthcare (NYSE:THC) PT Raised to $155.00

Tenet Healthcare (NYSE:THC) had its price objective boosted by equities researchers at Deutsche Bank Aktiengesellschaft from $150.00 to $155.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 16.52% from the stock’s previous close.

Several other research firms have also recently commented on THC. StockNews.com upgraded shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target on the stock in a report on Wednesday, March 27th. Wells Fargo & Company lifted their price objective on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Baird R W raised shares of Tenet Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Mizuho reaffirmed a “buy” rating and issued a $130.00 price objective (up previously from $118.00) on shares of Tenet Healthcare in a research note on Wednesday, May 1st. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare has an average rating of “Buy” and an average price target of $120.71.

Tenet Healthcare Trading Down 3.8 %

NYSE THC opened at $133.03 on Friday. Tenet Healthcare has a twelve month low of $51.04 and a twelve month high of $142.35. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.37 and a current ratio of 1.44. The stock has a market cap of $12.99 billion, a price-to-earnings ratio of 5.16, a PEG ratio of 1.43 and a beta of 2.12. The firm’s 50 day moving average price is $127.08 and its two-hundred day moving average price is $102.58.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping 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 firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the previous year, the company posted $1.42 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts anticipate that Tenet Healthcare will post 8.55 EPS for the current year.

Insider Transactions at Tenet Healthcare

In other news, EVP Thomas W. Arnst sold 8,148 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Thomas W. Arnst sold 8,148 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher S. Lynch sold 10,861 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the completion of the sale, the director now directly owns 14,759 shares in the company, valued at approximately $1,975,196.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,691 shares of company stock worth $3,117,909. 0.93% of the stock is currently owned by company insiders.

Institutional Trading of Tenet Healthcare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 during the period. Violich Capital Management Inc. grew its stake in Tenet Healthcare by 3.2% during the first quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock worth $355,000 after buying an additional 105 shares during the last quarter. GAMMA Investing LLC grew its stake in 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 during the last quarter. Yousif Capital Management LLC grew its stake in Tenet Healthcare by 0.3% during the fourth quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock worth $3,236,000 after buying an additional 131 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its stake 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 buying an additional 145 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

About Tenet Healthcare

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.