Tenet Healthcare (NYSE:THC) PT Raised to $147.00 at Barclays

Tenet Healthcare (NYSE:THC) had its target price lifted by investment analysts at Barclays from $113.00 to $147.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 22.21% from the stock’s current price.

A number of other analysts have also commented on THC. Deutsche Bank Aktiengesellschaft lifted their price target on Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Wolfe Research raised shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target on the stock in a report on Wednesday, March 27th. UBS Group lifted their price objective on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial reissued a “buy” rating and set a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a research report on Wednesday. Finally, Stephens lifted their price objective on Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday. One 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $113.19.

Tenet Healthcare Trading Up 1.1 %

Shares of NYSE:THC traded up $1.34 during midday trading on Thursday, reaching $120.28. The company’s stock had a trading volume of 1,695,112 shares, compared to its average volume of 1,350,059. The firm has a 50 day moving average price of $100.37 and a two-hundred day moving average price of $82.40. Tenet Healthcare has a fifty-two week low of $51.04 and a fifty-two week high of $121.72. The firm has a market capitalization of $11.75 billion, a price-to-earnings ratio of 4.67, a PEG ratio of 1.20 and a beta of 2.09. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.42 and a current ratio of 1.44.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the previous year, the company earned $1.42 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts forecast that Tenet Healthcare will post 8.73 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following 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. Insiders sold a total of 59,416 shares of company stock worth $5,890,793 over the last three months. 0.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

A number of hedge funds and other institutional investors have recently modified their holdings of THC. SG Americas Securities LLC bought a new stake in Tenet Healthcare in the third quarter valued at approximately $152,000. Raymond James & Associates increased its position in Tenet Healthcare by 32.2% during the 3rd quarter. Raymond James & Associates now owns 135,477 shares of the company’s stock valued at $8,927,000 after purchasing an additional 32,992 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Tenet Healthcare by 11.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 100,502 shares of the company’s stock worth $6,622,000 after acquiring an additional 10,141 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tenet Healthcare by 9.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,966 shares of the company’s stock valued at $1,250,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Tenet Healthcare by 31.4% in the 3rd quarter. Mackenzie Financial Corp now owns 50,393 shares of the company’s stock worth $3,185,000 after buying an additional 12,051 shares during the period. Institutional investors own 95.44% of the company’s stock.

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.