Tenet Healthcare’s (THC) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Tenet Healthcare (NYSE:THC) in a research report report published on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a $112.00 price target on the stock.

THC has been the topic of several other research reports. Stephens lifted their target price on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an equal weight rating in a research report on Wednesday, May 1st. Wolfe Research raised shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 target price on the stock in a research report on Wednesday, March 27th. Robert W. Baird began coverage on shares of Tenet Healthcare in a research report on Thursday, May 30th. They set an outperform rating and a $153.00 target price on the stock. Barclays lifted their price target on shares of Tenet Healthcare from $113.00 to $147.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tenet Healthcare from $150.00 to $155.00 and gave the stock a buy rating in a report on Friday, June 28th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $121.71.

Tenet Healthcare Price Performance

THC stock opened at $133.80 on Tuesday. The company has a market capitalization of $13.07 billion, a P/E ratio of 5.19, a price-to-earnings-growth ratio of 1.19 and a beta of 2.15. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.37 and a current ratio of 1.44. Tenet Healthcare has a 52-week low of $51.04 and a 52-week high of $142.35. The business has a 50-day simple moving average of $132.38 and a two-hundred day simple moving average of $105.99.

Tenet Healthcare (NYSE:THC) last released its quarterly 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. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the previous year, the business earned $1.42 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Research analysts expect that Tenet Healthcare will post 8.7 EPS for the current fiscal year.

Insider Activity

In other Tenet Healthcare news, Director Richard W. Fisher sold 1,400 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $132.24, for a total value of $185,136.00. Following the completion of the sale, the director now directly owns 16,227 shares of the company’s stock, valued at $2,145,858.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 transaction, the director now directly owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 1,400 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $132.24, for a total transaction of $185,136.00. Following the transaction, the director now directly owns 16,227 shares of the company’s stock, valued at $2,145,858.48. The disclosure for this sale can be found here. Insiders sold 24,691 shares of company stock worth $3,117,909 in the last three months. Corporate insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Tenet Healthcare by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after buying an additional 172,913 shares during the period. Nordea Investment Management AB lifted its holdings in Tenet Healthcare by 324.3% in the fourth quarter. Nordea Investment Management AB now owns 40,066 shares of the company’s stock worth $3,030,000 after buying an additional 30,623 shares during the period. Hsbc Holdings PLC lifted its holdings in Tenet Healthcare by 113.0% in the fourth quarter. Hsbc Holdings PLC now owns 453,624 shares of the company’s stock worth $34,266,000 after buying an additional 240,611 shares during the period. First Light Asset Management LLC purchased a new stake in Tenet Healthcare in the fourth quarter worth about $14,706,000. Finally, VitalStone Financial LLC bought a new position in shares of Tenet Healthcare during the fourth quarter valued at approximately $451,000. 95.44% of the stock is currently owned by hedge funds and other 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.