UBS Group Raises Tenet Healthcare (NYSE:THC) Price Target to $197.00

Tenet Healthcare (NYSE:THC) had its price objective raised by UBS Group from $180.00 to $197.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

THC has been the topic of a number of other reports. The Goldman Sachs Group boosted their price objective on shares of Tenet Healthcare from $156.00 to $173.00 and gave the company a buy rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Tenet Healthcare from $150.00 to $155.00 and gave the stock a buy rating in a research note on Friday, June 28th. Citigroup increased their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a buy rating in a report on Thursday, July 25th. Barclays upped their price objective on shares of Tenet Healthcare from $156.00 to $171.00 and gave the company an overweight rating in a report on Monday, July 29th. Finally, Raymond James boosted their target price on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a strong-buy rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare presently has a consensus rating of Buy and a consensus target price of $152.69.

Tenet Healthcare Trading Up 1.0 %

NYSE:THC opened at $156.67 on Wednesday. The firm has a 50 day moving average of $140.29 and a 200 day moving average of $117.91. The stock has a market capitalization of $15.30 billion, a price-to-earnings ratio of 6.08, a PEG ratio of 0.76 and a beta of 2.15. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $157.60.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.42. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.98 billion. As a group, sell-side analysts anticipate that Tenet Healthcare will post 10.68 earnings per share for the current fiscal year.

Tenet Healthcare declared that its Board of Directors has authorized a share buyback plan on Wednesday, July 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Saumya Sutaria sold 86,227 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total value of $13,314,311.07. Following the sale, the chief executive officer now directly owns 13,773 shares of the company’s stock, valued at $2,126,688.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Richard W. Fisher sold 1,400 shares of Tenet Healthcare stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $132.24, for a total transaction of $185,136.00. Following the sale, the director now owns 16,227 shares of the company’s stock, valued at approximately $2,145,858.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Saumya Sutaria sold 86,227 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total value of $13,314,311.07. Following the sale, the chief executive officer now directly owns 13,773 shares of the company’s stock, valued at $2,126,688.93. The disclosure for this sale can be found here. In the last three months, insiders sold 118,488 shares of company stock worth $17,879,775. Corporate insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Several institutional investors have recently added to or reduced their stakes in THC. Vanguard Group Inc. lifted its stake in Tenet Healthcare by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after acquiring an additional 172,913 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Tenet Healthcare by 11.1% in 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. Glenview Capital Management LLC lifted its holdings in Tenet Healthcare by 12.8% during the 4th quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock worth $585,087,000 after buying an additional 877,180 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tenet Healthcare by 16.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company’s stock worth $114,629,000 after acquiring an additional 212,185 shares in the last quarter. Finally, Greenlight Capital Inc. raised its stake in shares of Tenet Healthcare by 44.3% in the fourth quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after acquiring an additional 404,190 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.