Tenet Healthcare (NYSE:THC) Stock Price Expected to Rise, Barclays Analyst Says

Tenet Healthcare (NYSE:THC) had its target price hoisted by equities researchers at Barclays from $171.00 to $215.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 26.96% from the stock’s previous close.

THC has been the subject of a number of other reports. Wells Fargo & Company raised shares of Tenet Healthcare from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $195.00 in a research note on Thursday. Morgan Stanley raised their target price on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Baird R W cut shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. TD Cowen started coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target for the company. Finally, Bank of America raised their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $180.18.

Tenet Healthcare Price Performance

NYSE:THC traded up $0.58 during trading hours on Monday, reaching $169.35. 279,236 shares of the company traded hands, compared to its average volume of 1,514,583. Tenet Healthcare has a 1-year low of $109.82 and a 1-year high of $171.20. The stock has a market cap of $15.73 billion, a P/E ratio of 5.25, a P/E/G ratio of 1.02 and a beta of 1.63. The firm’s 50-day moving average is $140.71 and its 200-day moving average is $136.26. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period last year, the company posted $3.22 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts expect that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director James L. Bierman sold 13,836 shares of Tenet Healthcare stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $159.58, for a total value of $2,207,948.88. Following the sale, the director now directly owns 41,435 shares in the company, valued at approximately $6,612,197.30. The trade was a 25.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the transaction, the director now owns 27,378 shares of the company’s stock, valued at $3,434,022.54. This represents a 25.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,072 shares of company stock worth $8,557,590. Insiders own 0.81% of the company’s stock.

Institutional Trading of Tenet Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Tenet Healthcare during the first quarter worth about $26,000. Wayfinding Financial LLC purchased a new position in Tenet Healthcare in the first quarter valued at $28,000. SVB Wealth LLC purchased a new position in Tenet Healthcare during the first quarter worth approximately $30,000. N.E.W. Advisory Services LLC acquired a new position in Tenet Healthcare during the first quarter worth $31,000. Finally, Brooklyn Investment Group raised its stake in Tenet Healthcare by 908.7% in the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock valued at $31,000 after purchasing an additional 209 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

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.