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

Tenet Healthcare (NYSE:THC) had its price target boosted by equities research analysts at Truist Financial from $130.00 to $155.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 16.49% from the stock’s previous close.

THC has been the subject of a number of other reports. Barclays increased their price target on Tenet Healthcare from $147.00 to $156.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Robert W. Baird began coverage on shares of Tenet Healthcare in a report on Thursday, May 30th. They set an “outperform” rating and a $153.00 price objective for the company. Stephens boosted their target price on shares of Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Baird R W raised shares of Tenet Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Finally, UBS Group raised their target price on Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Tenet Healthcare has a consensus rating of “Buy” and a consensus price target of $123.18.

Tenet Healthcare Stock Down 1.0 %

NYSE THC traded down $1.33 during mid-day trading on Monday, hitting $133.06. The company’s stock had a trading volume of 143,608 shares, compared to its average volume of 1,199,572. Tenet Healthcare has a twelve month low of $51.04 and a twelve month high of $142.35. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 5.16, a PEG ratio of 1.24 and a beta of 2.15. The company’s 50 day simple moving average is $132.66 and its 200 day simple moving average is $106.82. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts anticipate that Tenet Healthcare will post 8.7 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,500 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total transaction of $308,000.00. Following the completion of the sale, the director now directly owns 17,627 shares in the company, valued at $2,171,646.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction on 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 document filed with the SEC, which is accessible through this link. Also, Director Richard W. Fisher sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total value of $308,000.00. Following the transaction, the director now directly owns 17,627 shares in the company, valued at $2,171,646.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,691 shares of company stock valued at $3,117,909. 0.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Tenet Healthcare during the fourth quarter valued at $78,254,000. Glenview Capital Management LLC grew its holdings in Tenet Healthcare by 12.8% in the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock worth $585,087,000 after purchasing an additional 877,180 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Tenet Healthcare by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock valued at $831,947,000 after purchasing an additional 790,684 shares in the last quarter. 8 Knots Management LLC purchased a new stake in shares of Tenet Healthcare in the 4th quarter worth approximately $44,412,000. Finally, Wedge Capital Management L L P NC raised its stake in Tenet Healthcare by 1,265.6% during the first quarter. Wedge Capital Management L L P NC now owns 468,158 shares of the company’s stock valued at $49,208,000 after buying an additional 433,877 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.