Tenet Healthcare (NYSE:THC) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Tenet Healthcare (NYSE:THC) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $104.00 target price on the stock.

Other analysts have also issued research reports about the company. Barclays assumed coverage on Tenet Healthcare in a report on Wednesday, March 6th. They issued an overweight rating and a $113.00 price target for the company. Wolfe Research upgraded Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price target for the company in a report on Wednesday, March 27th. Truist Financial boosted their price target on Tenet Healthcare from $92.00 to $105.00 and gave the company a buy rating in a report on Friday, February 9th. Wells Fargo & Company boosted their price target on Tenet Healthcare from $105.00 to $115.00 and gave the company an overweight rating in a report on Thursday, March 28th. Finally, TheStreet upgraded Tenet Healthcare from a c+ rating to a b- rating in a report on Tuesday, February 6th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare has an average rating of Buy and an average target price of $100.38.

Tenet Healthcare Trading Down 1.4 %

THC opened at $100.42 on Wednesday. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 3.17 and a beta of 2.08. The stock’s 50 day moving average price is $96.79 and its 200-day moving average price is $78.18. Tenet Healthcare has a one year low of $51.04 and a one year high of $107.80. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51.

Tenet Healthcare (NYSE:THC) last released 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 firm had revenue of $5.38 billion for 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%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 earnings per share. On average, equities analysts forecast that Tenet Healthcare will post 6.09 EPS for the current year.

Insider Activity

In other news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas W. Arnst sold 17,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $94.84, for a total value of $1,612,280.00. Following the completion of the transaction, the executive vice president now directly owns 8,148 shares in the company, valued at $772,756.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,268 shares of company stock worth $4,944,810. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new stake in Tenet Healthcare during the 1st quarter worth about $29,000. Parkside Financial Bank & Trust grew its position in Tenet Healthcare by 1,063.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock worth $36,000 after purchasing an additional 383 shares during the period. Lazard Asset Management LLC acquired a new stake in Tenet Healthcare during the 1st quarter worth about $36,000. Belpointe Asset Management LLC grew its position in Tenet Healthcare by 94.1% during the 1st quarter. Belpointe Asset Management LLC now owns 588 shares of the company’s stock worth $35,000 after purchasing an additional 285 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in Tenet Healthcare during the 4th quarter worth about $52,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.