Tenet Healthcare (NYSE:THC) PT Raised to $115.00

Tenet Healthcare (NYSE:THC - Free Report) had its target price increased by Wells Fargo & Company from $105.00 to $115.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently weighed in on THC. Wolfe Research raised Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price target on the stock in a report on Wednesday. Cantor Fitzgerald restated an overweight rating and set a $104.00 price target on shares of Tenet Healthcare in a research report on Tuesday, March 5th. StockNews.com upgraded Tenet Healthcare from a hold rating to a buy rating in a research report on Saturday, December 16th. Truist Financial lifted their price objective on Tenet Healthcare from $92.00 to $105.00 and gave the stock a buy rating in a research report on Friday, February 9th. Finally, TheStreet raised Tenet Healthcare from a c+ rating to a b- rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $97.56.

Tenet Healthcare Stock Performance

NYSE:THC traded up $0.24 during trading on Thursday, reaching $105.11. The company's stock had a trading volume of 890,790 shares, compared to its average volume of 1,169,062. Tenet Healthcare has a 12 month low of $51.04 and a 12 month high of $107.80. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51. The firm has a 50 day moving average of $92.12 and a 200-day moving average of $75.50. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 3.21 and a beta of 2.07.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $1.10. The business had revenue of $5.38 billion for the quarter, compared to analysts' expectations of $5.28 billion. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The firm's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 EPS. Research analysts expect that Tenet Healthcare will post 6.09 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the sale, the executive vice president now owns 29,803 shares of the company's stock, valued at approximately $2,889,698.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Paola M. Arbour sold 18,168 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the transaction, the executive vice president now owns 29,803 shares of the company's stock, valued at approximately $2,889,698.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas W. Arnst sold 17,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly 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 sold 51,268 shares of company stock valued at $4,944,810 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust increased its stake in Tenet Healthcare by 1,063.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company's stock worth $36,000 after buying an additional 383 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Tenet Healthcare during the 1st quarter worth approximately $36,000. Belpointe Asset Management LLC increased its stake in Tenet Healthcare by 94.1% during the 1st quarter. Belpointe Asset Management LLC now owns 588 shares of the company's stock worth $35,000 after buying an additional 285 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Tenet Healthcare during the 4th quarter worth approximately $52,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Tenet Healthcare by 46.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company's stock worth $31,000 after buying an additional 199 shares in the last quarter. Hedge funds and other institutional investors 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.