Tenet Healthcare (NYSE:THC) PT Raised to $136.00

Tenet Healthcare (NYSE:THC) had its price target increased by Royal Bank of Canada from $109.00 to $136.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

THC has been the topic of a number of other research reports. UBS Group boosted their price objective on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a buy rating in a report on Wednesday. Wells Fargo & Company upped their price target on Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Stephens boosted their target price on Tenet Healthcare from $95.00 to $122.00 and gave the stock an equal weight rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an overweight rating and set a $104.00 price target on shares of Tenet Healthcare in a research note on Wednesday, April 10th. Finally, Truist Financial reissued a buy rating and issued a $130.00 price objective (up from $120.00) on shares of Tenet Healthcare in a research note on Wednesday. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $113.19.

Tenet Healthcare Stock Up 1.1 %

Shares of NYSE:THC opened at $120.28 on Wednesday. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 4.67, a PEG ratio of 2.63 and a beta of 2.09. Tenet Healthcare has a fifty-two week low of $51.04 and a fifty-two week high of $121.72. The firm’s 50-day simple moving average is $99.82 and its 200-day simple moving average is $81.94. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $1.45 by $1.77. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $1.42 EPS. As a group, equities research analysts predict that Tenet Healthcare will post 8.89 earnings per share for the current year.

Insider Activity

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now owns 20,127 shares in the company, valued at approximately $1,775,402.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the sale, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The disclosure for this sale can be found here. Insiders sold a total of 59,416 shares of company stock valued at $5,890,793 over the last quarter. Company insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

A number of large investors have recently modified their holdings of THC. Rise Advisors LLC acquired a new stake in Tenet Healthcare during the 1st quarter worth approximately $29,000. GAMMA Investing LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter worth $52,000. Sunbelt Securities Inc. acquired a new position in shares of Tenet Healthcare during the 3rd quarter valued at $67,000. FinTrust Capital Advisors LLC boosted its position in Tenet Healthcare by 108.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after purchasing an additional 467 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in Tenet Healthcare in the first quarter valued at about $78,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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.