Tenet Healthcare (NYSE:THC) had its target price increased by equities research analysts at Mizuho from $48.00 to $55.00 in a research report issued on Friday, The Fly reports. The brokerage currently has a "buy" rating on the stock. Mizuho's price objective suggests a potential upside of 8.33% from the company's previous close.
Several other equities analysts also recently issued reports on THC. Raymond James boosted their price target on shares of Tenet Healthcare from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, January 14th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on shares of Tenet Healthcare from $33.00 to $50.00 in a report on Friday, December 11th. Zacks Investment Research downgraded shares of Tenet Healthcare from a "buy" rating to a "hold" rating and set a $55.00 price target for the company. in a report on Tuesday, February 9th. Barclays boosted their price target on shares of Tenet Healthcare from $28.00 to $46.00 and gave the company an "equal weight" rating in a report on Friday, December 11th. Finally, Citigroup boosted their price target on shares of Tenet Healthcare from $50.00 to $58.00 in a report on Thursday, February 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Tenet Healthcare presently has an average rating of "Buy" and a consensus price target of $44.89.
Tenet Healthcare stock opened at $50.77 on Friday. The company has a market cap of $5.41 billion, a PE ratio of -390.54, a P/E/G ratio of 8.49 and a beta of 2.66. The company has a fifty day moving average price of $52.75 and a two-hundred day moving average price of $40.64. The company has a debt-to-equity ratio of 29.81, a current ratio of 1.34 and a quick ratio of 1.28. Tenet Healthcare has a 12 month low of $15.19 and a 12 month high of $57.88.
Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Monday, February 8th. The company reported $4.72 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $3.62. The firm had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.89 billion. Tenet Healthcare had a negative net margin of 0.07% and a positive return on equity of 82.39%. The firm's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. Equities research analysts anticipate that Tenet Healthcare will post 4.27 earnings per share for the current year.
In other news, major shareholder Glenview Capital Management, L sold 2,500,000 shares of the stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $53.30, for a total value of $133,250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel J. Cancelmi sold 70,700 shares of the stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $56.80, for a total transaction of $4,015,760.00. Following the completion of the transaction, the chief financial officer now owns 399,500 shares of the company's stock, valued at $22,691,600. The disclosure for this sale can be found here. Insiders sold 2,714,302 shares of company stock valued at $145,205,515 over the last quarter. Insiders own 1.70% of the company's stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Tenet Healthcare by 2.5% during the fourth quarter. BlackRock Inc. now owns 12,191,094 shares of the company's stock worth $486,790,000 after buying an additional 295,744 shares in the last quarter. FMR LLC boosted its holdings in Tenet Healthcare by 13.7% during the first quarter. FMR LLC now owns 1,785,117 shares of the company's stock worth $51,483,000 after buying an additional 215,600 shares in the last quarter. Norges Bank bought a new stake in Tenet Healthcare during the fourth quarter worth approximately $51,084,000. Charles Schwab Investment Management Inc. boosted its holdings in Tenet Healthcare by 15.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,045,534 shares of the company's stock worth $41,749,000 after buying an additional 141,852 shares in the last quarter. Finally, PFM Health Sciences LP boosted its holdings in Tenet Healthcare by 17.2% during the fourth quarter. PFM Health Sciences LP now owns 986,019 shares of the company's stock worth $39,372,000 after buying an additional 144,825 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company's stock.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
Recommended Story: What are the Benefits of Index Funds?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: Trading Strategy Methods for Individual Investors
7 Lithium Stocks That Will Power the Electric Vehicle BoomDemand for lithium is set to increase exponentially in the next few years. In fact, according to Statista, demand for lithium may very well double to 820,000 tons in that time. Some of that demand will come from companies that are manufacturing the batteries that we use every day. For example, lithium is an essential component of the batteries that power our mobile devices.
But the real growth will come as the United States goes all-in on electric vehicles (EVs). The Biden administration recently announced plans to have the U.S. government’s fleet of over 600,000 vehicles converted to EVs.
And as you’re aware, EV stocks are in a bubble of some sort at the moment. Some of that is due to the increasing number of companies that went public last year. However, as investors are beginning to realize, not all of these companies will be the next Tesla. In fact, some of these companies may never be successful at bringing an EV to market, at least not at the scale that will be required.
The ones that do make it will need lithium and lots of it. To help you sift through the best lithium stocks to buy, we’ve put together this special presentation.
View the "7 Lithium Stocks That Will Power the Electric Vehicle Boom".
