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

Tenet Healthcare (NYSE:THC - Free Report) had its price objective upped by Barclays from $171.00 to $215.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

THC has been the topic of several other reports. Morgan Stanley lifted their target price on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Bank of America lifted their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Friday. Wells Fargo & Company raised shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $150.00 to $195.00 in a research note on Thursday, May 29th. Finally, Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average price target of $180.18.

Tenet Healthcare Stock Performance

NYSE:THC traded up $1.96 during midday trading on Monday, reaching $172.08. The stock had a trading volume of 1,201,532 shares, compared to its average volume of 1,529,391. Tenet Healthcare has a 1-year low of $109.82 and a 1-year high of $174.14. The firm's fifty day simple moving average is $141.45 and its 200-day simple moving average is $136.36. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The stock has a market capitalization of $15.98 billion, a P/E ratio of 5.34, a PEG ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $1.25. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The business's quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the business posted $3.22 EPS. On average, equities research analysts forecast that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Activity

In other news, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the transaction, the director now directly owns 22,377 shares of the company's stock, valued at $3,322,984.50. This represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James L. Bierman sold 1,551 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $165.72, for a total transaction of $257,031.72. Following the completion of the transaction, the director now owns 39,884 shares in the company, valued at $6,609,576.48. This trade represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,072 shares of company stock valued at $8,557,590 over the last ninety days. 0.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

Large investors have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Tenet Healthcare during the first quarter worth about $26,000. Wayfinding Financial LLC bought a new position in shares of Tenet Healthcare in the first quarter worth about $28,000. SVB Wealth LLC bought a new position in shares of Tenet Healthcare in the first quarter worth about $30,000. Colonial Trust Co SC lifted its holdings in shares of Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after acquiring an additional 114 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Tenet Healthcare in the first quarter worth about $31,000. 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.