Wall Street Zen Upgrades Tenet Healthcare (NYSE:THC) to Strong-Buy

Tenet Healthcare (NYSE:THC) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Several other analysts have also commented on the stock. Royal Bank Of Canada raised their price objective on shares of Tenet Healthcare from $230.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Mizuho lifted their price target on Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. TD Cowen reiterated a “buy” rating on shares of Tenet Healthcare in a report on Wednesday, January 7th. UBS Group upped their target price on shares of Tenet Healthcare from $238.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Guggenheim upped their price objective on shares of Tenet Healthcare from $238.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.81.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $189.48 on Friday. The company has a market cap of $16.65 billion, a PE ratio of 12.99, a P/E/G ratio of 0.81 and a beta of 1.45. The business has a 50 day moving average of $200.90 and a 200 day moving average of $192.16. Tenet Healthcare has a 52 week low of $109.82 and a 52 week high of $222.82. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.27.

Insider Buying and Selling

In related news, insider R. Scott Ramsey sold 13,322 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $205.11, for a total value of $2,732,475.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nadja West sold 2,178 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $197.47, for a total value of $430,089.66. Following the completion of the transaction, the director owned 28,480 shares of the company’s stock, valued at $5,623,945.60. This represents a 7.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,901 shares of company stock worth $5,693,966 in the last three months. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wedmont Private Capital raised its holdings in Tenet Healthcare by 2.5% in the 4th quarter. Wedmont Private Capital now owns 2,088 shares of the company’s stock worth $422,000 after purchasing an additional 50 shares during the period. Baron Wealth Management LLC raised its stake in shares of Tenet Healthcare by 4.8% in the fourth quarter. Baron Wealth Management LLC now owns 1,142 shares of the company’s stock worth $227,000 after buying an additional 52 shares during the period. Sagespring Wealth Partners LLC grew its stake in shares of Tenet Healthcare by 3.6% during the 4th quarter. Sagespring Wealth Partners LLC now owns 1,573 shares of the company’s stock valued at $313,000 after acquiring an additional 55 shares during the period. Crestwood Advisors Group LLC increased its holdings in Tenet Healthcare by 2.5% in the 3rd quarter. Crestwood Advisors Group LLC now owns 2,606 shares of the company’s stock worth $529,000 after acquiring an additional 64 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Tenet Healthcare by 9.0% during the 4th quarter. Signaturefd LLC now owns 798 shares of the company’s stock worth $159,000 after acquiring an additional 66 shares during the period. Institutional investors own 95.44% of the company’s stock.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.