Tenet Healthcare (NYSE:THC) Stock Price Expected to Rise, Barclays Analyst Says

Tenet Healthcare (NYSE:THC) had its price objective increased by Barclays from $171.00 to $190.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

THC has been the topic of several other research reports. The Goldman Sachs Group upped their target price on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Raymond James upped their price objective on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. KeyCorp started coverage on Tenet Healthcare in a research note on Friday, October 11th. They issued an “overweight” rating and a $200.00 price objective on the stock. Citigroup upped their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company upped their price objective on Tenet Healthcare from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Tenet Healthcare has an average rating of “Buy” and an average price target of $165.35.

Tenet Healthcare Stock Up 1.0 %

NYSE:THC opened at $166.91 on Friday. Tenet Healthcare has a 1 year low of $53.63 and a 1 year high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The stock has a market cap of $15.87 billion, a price-to-earnings ratio of 5.35, a PEG ratio of 0.74 and a beta of 2.15. The stock has a 50-day moving average price of $159.45 and a two-hundred day moving average price of $145.65.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. Tenet Healthcare’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. As a group, equities analysts expect that Tenet Healthcare will post 11.38 earnings per share for the current year.

Tenet Healthcare declared that its Board of Directors has approved a share buyback plan on Wednesday, July 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to purchase up to 10.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, CEO Saumya Sutaria sold 86,227 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total value of $13,314,311.07. Following the completion of the transaction, the chief executive officer now directly owns 13,773 shares in the company, valued at approximately $2,126,688.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saumya Sutaria sold 86,227 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total value of $13,314,311.07. Following the transaction, the chief executive officer now directly owns 13,773 shares of the company’s stock, valued at approximately $2,126,688.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,203 shares of company stock worth $17,451,957. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of THC. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Tenet Healthcare by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after acquiring an additional 90 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Tenet Healthcare by 113.5% in the 1st quarter. BNP Paribas Financial Markets now owns 54,878 shares of the company’s stock worth $5,768,000 after acquiring an additional 29,172 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Tenet Healthcare in the 1st quarter worth about $537,000. GSA Capital Partners LLP raised its position in shares of Tenet Healthcare by 54.0% in the 1st quarter. GSA Capital Partners LLP now owns 5,347 shares of the company’s stock worth $562,000 after acquiring an additional 1,874 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Tenet Healthcare by 18.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,709 shares of the company’s stock valued at $600,000 after buying an additional 880 shares during the period. 95.44% of the stock is owned by institutional investors.

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.