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

Tenet Healthcare (NYSE:THC) had its target price raised by Barclays from $113.00 to $147.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently commented on the company. UBS Group lifted their price objective on Tenet Healthcare from $137.00 to $150.00 and gave the stock a buy rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on Tenet Healthcare from $105.00 to $115.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a buy rating in a research note on Friday, April 12th. TheStreet upgraded shares of Tenet Healthcare from a c+ rating to a b- rating in a report on Tuesday, February 6th. Finally, Truist Financial restated a buy rating and issued a $130.00 price objective (up from $120.00) on shares of Tenet Healthcare 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 stock. Based on data from MarketBeat, Tenet Healthcare currently has a consensus rating of Buy and a consensus target price of $113.19.

Tenet Healthcare Price Performance

THC traded up $1.34 during trading on Thursday, reaching $120.28. The stock had a trading volume of 1,695,112 shares, compared to its average volume of 1,350,059. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.42 and a current ratio of 1.44. The business has a 50-day moving average of $100.37 and a 200-day moving average of $82.40. Tenet Healthcare has a one year low of $51.04 and a one year high of $121.72. The stock has a market cap of $11.75 billion, a PE ratio of 4.67, a PEG ratio of 1.20 and a beta of 2.09.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. The company had revenue of $5.37 billion for 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%. Tenet Healthcare’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.42 EPS. As a group, equities research analysts anticipate that Tenet Healthcare will post 8.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Thomas W. Arnst sold 8,148 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas W. Arnst sold 8,148 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,416 shares of company stock valued at $5,890,793. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

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

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.