Tenet Healthcare (NYSE:THC) Price Target Increased to $122.00 by Analysts at Stephens

Tenet Healthcare (NYSE:THC) had its price objective lifted by Stephens from $95.00 to $122.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada boosted their price target on Tenet Healthcare from $97.00 to $109.00 and gave the company an outperform rating in a report on Friday, February 9th. Deutsche Bank Aktiengesellschaft increased their price target on Tenet Healthcare from $100.00 to $126.00 and gave the stock a buy rating in a research report on Friday, April 12th. TheStreet upgraded Tenet Healthcare from a c+ rating to a b- rating in a report on Tuesday, February 6th. Wells Fargo & Company raised their target price 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. Finally, Mizuho upped their price target on shares of Tenet Healthcare from $90.00 to $100.00 and gave the stock a buy rating in a research report on Friday, February 9th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of Buy and an average price target of $111.06.

Tenet Healthcare Price Performance

Shares of THC stock opened at $115.94 on Wednesday. The stock has a 50 day moving average price of $98.80 and a 200 day moving average price of $81.44. The firm has a market capitalization of $11.50 billion, a P/E ratio of 4.50, a P/E/G ratio of 2.55 and a beta of 2.09. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.42 and a current ratio of 1.44. Tenet Healthcare has a 52-week low of $51.04 and a 52-week high of $120.03.

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 analysts’ consensus estimates of $1.45 by $1.77. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 earnings per share. As a group, sell-side analysts predict that Tenet Healthcare will post 8.89 earnings per share for the current year.

Insider Activity

In related news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Thomas W. Arnst sold 17,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the sale, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the transaction, the director now owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,268 shares of company stock worth $4,944,810. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of THC. Rise Advisors LLC purchased a new stake in Tenet Healthcare in the first quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at $52,000. Sunbelt Securities Inc. acquired a new stake in shares of Tenet Healthcare in the third quarter worth $67,000. FinTrust Capital Advisors LLC lifted its position in Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after purchasing an additional 467 shares during the period. Finally, USA Financial Formulas purchased a new stake in Tenet Healthcare in the third quarter valued at $92,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.