Tenet Healthcare (NYSE:THC) Given Buy Rating at Mizuho

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

A number of other analysts also recently weighed in on THC. Stephens increased their target price on shares of Tenet Healthcare from $95.00 to $122.00 and gave the company an equal weight rating in a research report on Wednesday. Truist Financial reissued a buy rating and set a $130.00 target price (up previously from $120.00) on shares of Tenet Healthcare in a research note on Wednesday. TheStreet raised shares of Tenet Healthcare from a c+ rating to a b- rating in a research report on Tuesday, February 6th. Cantor Fitzgerald reissued an overweight rating and issued a $104.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, April 10th. Finally, Barclays started coverage on Tenet Healthcare in a research note on Wednesday, March 6th. They set an overweight rating and a $113.00 target price for the company. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $111.06.

Tenet Healthcare Trading Up 3.3 %

THC opened at $115.94 on Wednesday. The company’s 50 day moving average price is $98.80 and its two-hundred day moving average price is $81.44. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of 4.50, a PEG ratio of 2.55 and a beta of 2.09. Tenet Healthcare has a fifty-two week low of $51.04 and a fifty-two week high of $120.03. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.42.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Tenet Healthcare’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $1.42 EPS. As a group, research analysts predict that Tenet Healthcare will post 8.89 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the transaction, the executive vice president now directly owns 29,803 shares in the company, valued at $2,889,698.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Paola M. Arbour sold 18,168 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard J. Mark sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the sale, the director now directly owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,268 shares of company stock worth $4,944,810. 0.93% of the stock is owned by corporate insiders.

Institutional Trading of Tenet Healthcare

Several institutional investors have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in Tenet Healthcare during the first quarter worth about $29,000. GAMMA Investing LLC bought a new position in shares of Tenet Healthcare during the 4th quarter worth approximately $52,000. Sunbelt Securities Inc. bought a new position in shares of Tenet Healthcare in the third quarter valued at approximately $67,000. FinTrust Capital Advisors LLC lifted its holdings in Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after acquiring an additional 467 shares during the period. Finally, USA Financial Formulas purchased a new position in Tenet Healthcare in the third quarter worth $92,000. Institutional investors 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.