Tenet Healthcare (NYSE:THC) Hits New 12-Month High at $109.00

Tenet Healthcare Co. (NYSE:THC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $109.00 and last traded at $108.58, with a volume of 960675 shares trading hands. The stock had previously closed at $99.15.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank of Canada increased their price objective on Tenet Healthcare from $97.00 to $109.00 and gave the company an "outperform" rating in a report on Friday, February 9th. Wolfe Research upgraded shares of Tenet Healthcare from a "peer perform" rating to an "outperform" rating and set a $122.00 target price for the company in a research note on Wednesday, March 27th. Mizuho lifted their price objective on shares of Tenet Healthcare from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, February 9th. Wells Fargo & Company raised their price target on Tenet Healthcare from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. Finally, Barclays started coverage on Tenet Healthcare in a report on Wednesday, March 6th. They set an "overweight" rating and a $113.00 target price for the company. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $100.38.

Tenet Healthcare Stock Up 13.3 %

The stock has a market cap of $11.14 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 3.08 and a beta of 2.08. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. The stock's fifty day moving average price is $98.38 and its 200 day moving average price is $81.03.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported $2.68 EPS for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the company earned $1.96 EPS. The company's revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Tenet Healthcare Co. will post 6.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard W. Fisher sold 2,100 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now directly 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 Securities & Exchange Commission, which can be accessed through this link. In other news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard J. Mark sold 14,000 shares of the company's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the sale, the director now owns 33,303 shares of the company's stock, valued at $3,296,330.94. The disclosure for this sale can be found here. Insiders have sold a total of 51,268 shares of company stock worth $4,944,810 in the last 90 days. 0.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC lifted its stake in Tenet Healthcare by 49.8% in the third quarter. CWM LLC now owns 1,443 shares of the company's stock worth $95,000 after acquiring an additional 480 shares during the period. SG Americas Securities LLC purchased a new position in shares of Tenet Healthcare during the third quarter valued at about $152,000. Handelsbanken Fonder AB lifted its holdings in Tenet Healthcare by 5.5% in the third quarter. Handelsbanken Fonder AB now owns 17,218 shares of the company's stock worth $1,134,000 after buying an additional 900 shares during the period. Raymond James & Associates grew its holdings in shares of Tenet Healthcare by 32.2% during the 3rd quarter. Raymond James & Associates now owns 135,477 shares of the company's stock worth $8,927,000 after acquiring an additional 32,992 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Tenet Healthcare by 11.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 100,502 shares of the company's stock valued at $6,622,000 after purchasing an additional 10,141 shares during the period. Hedge funds and other 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.