Tenet Healthcare (NYSE:THC) Sets New 12-Month High at $121.73

Tenet Healthcare Co. (NYSE:THC - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $121.73 and last traded at $120.43, with a volume of 226604 shares. The stock had previously closed at $120.28.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group lifted their price target on Tenet Healthcare from $137.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, May 1st. TheStreet raised Tenet Healthcare from a "c+" rating to a "b-" rating in a report on Tuesday, February 6th. Truist Financial reaffirmed a "buy" rating and issued a $130.00 price objective (up from $120.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. Stephens lifted their price objective on Tenet Healthcare from $95.00 to $122.00 and gave the company an "equal weight" rating in a report on Wednesday, May 1st. Finally, StockNews.com raised Tenet Healthcare from a "buy" rating to a "strong-buy" rating in a report on Thursday. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $113.19.

Tenet Healthcare Price Performance

The firm has a market cap of $11.95 billion, a P/E ratio of 4.67, a price-to-earnings-growth ratio of 1.22 and a beta of 2.09. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. The business has a 50-day moving average of $100.37 and a two-hundred day moving average of $82.77.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the previous year, the company posted $1.42 EPS. The business's revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts anticipate that Tenet Healthcare Co. will post 8.73 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare 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 transaction, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Richard W. Fisher sold 2,100 shares of the company's 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 transaction, the director now directly owns 20,127 shares of the company's stock, valued at approximately $1,775,402.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Thomas W. Arnst sold 17,000 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $94.84, for a total value of $1,612,280.00. Following the sale, the executive vice president now owns 8,148 shares of the company's stock, valued at approximately $772,756.32. The disclosure for this sale can be found here. Insiders have sold a total of 59,416 shares of company stock worth $5,890,793 in the last 90 days. Corporate insiders own 0.93% of the company's stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in THC. Nordea Investment Management AB lifted its holdings in shares of Tenet Healthcare by 324.3% in the fourth quarter. Nordea Investment Management AB now owns 40,066 shares of the company's stock valued at $3,030,000 after purchasing an additional 30,623 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Tenet Healthcare by 37.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 176,404 shares of the company's stock worth $11,623,000 after acquiring an additional 47,952 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in shares of Tenet Healthcare during the fourth quarter valued at about $1,684,000. Bleakley Financial Group LLC boosted its holdings in Tenet Healthcare by 6.0% during the fourth quarter. Bleakley Financial Group LLC now owns 91,159 shares of the company's stock worth $6,889,000 after purchasing an additional 5,198 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Tenet Healthcare by 0.6% during the third quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company's stock worth $720,671,000 after purchasing an additional 63,253 shares during the last quarter. Institutional investors and hedge funds 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.