Analysts Set Tenet Healthcare Co. (NYSE:THC) PT at $100.38

Shares of Tenet Healthcare Co. (NYSE:THC) have received an average recommendation of “Buy” from the sixteen research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $100.38.

Several equities analysts have recently issued reports on the company. Mizuho lifted their price objective on Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Wells Fargo & Company raised their target price on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Wolfe Research raised 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. Royal Bank of Canada raised their target price on Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, TheStreet raised Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th.

Insider Activity at Tenet Healthcare

In related news, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $94.84, for a total value of $1,612,280.00. Following the sale, the executive vice president now directly owns 8,148 shares in the company, valued at $772,756.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the sale, the executive vice president now directly owns 29,803 shares in the company, valued at $2,889,698.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas W. Arnst sold 17,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $94.84, for a total value of $1,612,280.00. Following the sale, 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 a total of 51,268 shares of company stock worth $4,944,810 over the last three months. 0.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenet Healthcare

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Tenet Healthcare by 17.0% during the first quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock worth $77,000 after purchasing an additional 106 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of Tenet Healthcare by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock worth $3,236,000 after acquiring an additional 131 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Tenet Healthcare by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock worth $656,000 after acquiring an additional 145 shares during the last quarter. Xponance Inc. raised its holdings in shares of Tenet Healthcare by 1.2% in the fourth quarter. Xponance Inc. now owns 12,337 shares of the company’s stock worth $932,000 after acquiring an additional 147 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Tenet Healthcare by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 44,328 shares of the company’s stock worth $2,921,000 after acquiring an additional 220 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $97.86 on Friday. The business has a 50-day moving average of $97.75 and a 200 day moving average of $79.92. Tenet Healthcare has a 12 month low of $51.04 and a 12 month high of $107.80. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.99 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $1.10. The company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. Tenet Healthcare’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business posted $1.96 EPS. As a group, sell-side analysts forecast that Tenet Healthcare will post 6.3 earnings per share for the current year.

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.