Tenet Healthcare (NYSE:THC) Receives Buy Rating from Mizuho

Mizuho reiterated their buy rating on shares of Tenet Healthcare (NYSE:THC) in a research report released on Wednesday, Benzinga reports. Mizuho currently has a $130.00 price target on the stock, up from their previous price target of $118.00.

A number of other research firms have also commented on THC. Cantor Fitzgerald reissued an overweight rating and issued a $104.00 target price on shares of Tenet Healthcare in a report on Wednesday, April 10th. Stephens lifted their target price on Tenet Healthcare from $95.00 to $122.00 and gave the stock an equal weight rating in a report on Wednesday. TheStreet upgraded Tenet Healthcare from a c+ rating to a b- rating in a research note on Tuesday, February 6th. Wells Fargo & Company raised their price target on Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada raised their price target on Tenet Healthcare from $97.00 to $109.00 and gave the stock an outperform rating in a research note on Friday, February 9th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $113.19.

Tenet Healthcare Stock Up 1.1 %

THC stock opened at $120.28 on Wednesday. Tenet Healthcare has a twelve month low of $51.04 and a twelve month 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 firm has a market cap of $11.75 billion, a PE ratio of 4.67, a price-to-earnings-growth ratio of 1.22 and a beta of 2.09. The business has a 50 day moving average of $100.37 and a 200 day moving average of $82.40.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 EPS. On average, research analysts forecast that Tenet Healthcare will post 8.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas W. Arnst sold 17,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $94.84, for a total value of $1,612,280.00. Following the completion of the transaction, the executive vice president now owns 8,148 shares in the company, valued at $772,756.32. The disclosure for this sale can be found here. Insiders have sold 59,416 shares of company stock worth $5,890,793 over the last ninety days. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Several large investors have recently made changes to their positions in THC. Nordea Investment Management AB increased its stake in Tenet Healthcare by 324.3% during the fourth quarter. Nordea Investment Management AB now owns 40,066 shares of the company’s stock worth $3,030,000 after acquiring an additional 30,623 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Tenet Healthcare by 37.3% during the third quarter. First Eagle Investment Management LLC now owns 176,404 shares of the company’s stock worth $11,623,000 after acquiring an additional 47,952 shares during the last quarter. Bleakley Financial Group LLC increased its stake in Tenet Healthcare by 6.0% during the fourth quarter. Bleakley Financial Group LLC now owns 91,159 shares of the company’s stock worth $6,889,000 after acquiring an additional 5,198 shares during the last quarter. Vanguard Group Inc. increased its stake in Tenet Healthcare by 0.6% during the third quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock worth $720,671,000 after acquiring an additional 63,253 shares during the last quarter. Finally, TD Asset Management Inc bought a new stake in Tenet Healthcare during the third quarter worth approximately $1,146,000. 95.44% of the stock is owned by institutional investors.

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.