Tenet Healthcare’s (THC) “Buy” Rating Reaffirmed at Mizuho

Mizuho restated their buy rating on shares of Tenet Healthcare (NYSE:THC) in a research report sent to investors on Wednesday, Benzinga reports. Mizuho currently has a $130.00 target price on the stock, up from their prior target price of $118.00.

Several other research analysts have also issued reports on the company. Wolfe Research upgraded Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price objective for the company in a research note on Wednesday, March 27th. Cantor Fitzgerald reiterated an overweight rating and set a $104.00 target price on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Royal Bank of Canada boosted their price target on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an outperform rating in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a buy rating in a report on Friday, April 12th. Finally, Barclays started coverage on Tenet Healthcare in a research report on Wednesday, March 6th. They set an overweight rating and a $113.00 price target on the stock. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of Buy and a consensus price target of $111.06.

Tenet Healthcare Trading Up 3.3 %

Shares of Tenet Healthcare stock opened at $115.94 on Wednesday. The company’s fifty 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 PE ratio of 4.50, a price-to-earnings-growth ratio of 2.55 and a beta of 2.09. Tenet Healthcare has a 52-week low of $51.04 and a 52-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 quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter last year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts expect that Tenet Healthcare will post 8.89 EPS for the current year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the sale, the director now owns 33,303 shares in the company, valued at approximately $3,296,330.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were 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 in the company, valued at $3,296,330.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. Insiders have sold a total of 51,268 shares of company stock worth $4,944,810 over the last 90 days. Insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently modified their holdings of THC. Norges Bank bought a new position in Tenet Healthcare in the fourth quarter valued at approximately $78,254,000. Glenview Capital Management LLC raised its holdings in shares of Tenet Healthcare by 12.8% during the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock worth $585,087,000 after acquiring an additional 877,180 shares during the period. 8 Knots Management LLC bought a new stake in Tenet Healthcare in the 4th quarter valued at $44,412,000. Wedge Capital Management L L P NC increased its holdings in Tenet Healthcare by 1,265.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 468,158 shares of the company’s stock worth $49,208,000 after purchasing an additional 433,877 shares in the last quarter. Finally, Greenlight Capital Inc. raised its stake in shares of Tenet Healthcare by 44.3% in the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after purchasing an additional 404,190 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.