Tenet Healthcare’s (THC) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Tenet Healthcare (NYSE:THC) in a research note released on Tuesday morning, Benzinga reports. They currently have a $112.00 target price on the stock.

Several other equities research analysts have also weighed in on the stock. Barclays upped their target price on shares of Tenet Healthcare from $113.00 to $147.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. Mizuho reaffirmed a buy rating and issued a $130.00 target price (up previously from $118.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. StockNews.com upgraded shares of Tenet Healthcare from a buy rating to a strong-buy rating in a research report on Friday, June 7th. Wolfe Research upgraded 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 research report on Wednesday, March 27th. Finally, Stephens upped their price target on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an equal weight rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $121.18.

Tenet Healthcare Trading Up 0.7 %

Shares of Tenet Healthcare stock opened at $134.24 on Tuesday. The firm has a market capitalization of $13.11 billion, a PE ratio of 5.21, a price-to-earnings-growth ratio of 1.37 and a beta of 2.15. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.37. The company’s fifty day moving average price is $128.58 and its two-hundred day moving average price is $103.59. Tenet Healthcare has a 52-week low of $51.04 and a 52-week high of $142.35.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $1.77. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 EPS. On average, analysts expect that Tenet Healthcare will post 8.55 EPS for the current year.

Insider Activity at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 10,861 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $133.83, for a total value of $1,453,527.63. Following the sale, the director now directly owns 14,759 shares in the company, valued at approximately $1,975,196.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Christopher S. Lynch sold 10,861 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the completion of the sale, the director now directly owns 14,759 shares of the company’s stock, valued at approximately $1,975,196.97. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction that occurred 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. Insiders have sold 24,691 shares of company stock worth $3,117,909 in the last ninety days. Company insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Tenet Healthcare by 34.9% in the second quarter. GAMMA Investing LLC now owns 986 shares of the company’s stock valued at $131,000 after buying an additional 255 shares in the last quarter. Hamilton Wealth LLC acquired a new stake in Tenet Healthcare during the 1st quarter valued at $469,000. Boston Partners lifted its holdings in Tenet Healthcare by 230.4% during the 1st quarter. Boston Partners now owns 119,348 shares of the company’s stock valued at $12,527,000 after purchasing an additional 83,231 shares during the last quarter. Cetera Advisors LLC acquired a new stake in Tenet Healthcare during the 1st quarter valued at $227,000. Finally, Cetera Investment Advisers acquired a new stake in Tenet Healthcare during the 1st quarter valued at $1,772,000. 95.44% of the stock is owned by institutional investors.

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.