Tenet Healthcare (NYSE:THC) Given Buy Rating at Mizuho

Mizuho reaffirmed their buy rating on shares of Tenet Healthcare (NYSE:THC - Free Report) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $130.00 price target on the stock, up from their prior price target of $118.00.

Several other research analysts also recently issued reports on the company. Wells Fargo & Company lifted their price target on Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Truist Financial reissued a buy rating and issued a $130.00 target price (up previously from $120.00) on shares of Tenet Healthcare in a research note on Wednesday. Barclays assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, March 6th. They issued an overweight rating and a $113.00 target price for the company. Cantor Fitzgerald reissued an overweight rating and issued a $104.00 target price on shares of Tenet Healthcare in a research note on Wednesday, April 10th. Finally, TheStreet raised shares of Tenet Healthcare from a c+ rating to a b- rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $111.06.

Tenet Healthcare Price Performance

Shares of NYSE THC traded up $3.65 during trading on Wednesday, hitting $115.94. 3,242,452 shares of the company were exchanged, compared to its average volume of 1,193,417. The company has a market cap of $11.50 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 3.18 and a beta of 2.08. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $120.03. The firm's fifty day moving average price is $98.80 and its 200 day moving average price is $81.44. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $1.45 by $1.77. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The business's revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 EPS. On average, sell-side analysts expect that Tenet Healthcare will post 6.3 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In related news, Director Richard J. Mark sold 14,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the transaction, the director now owns 33,303 shares in the company, valued at $3,296,330.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $88.21, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Mark sold 14,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 33,303 shares of the company's stock, valued at approximately $3,296,330.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,268 shares of company stock worth $4,944,810. Company insiders own 0.93% of the company's stock.

Institutional Trading of Tenet Healthcare

Several large investors have recently bought and sold shares of the company. Capstone Investment Advisors LLC acquired a new stake in shares of Tenet Healthcare during the first quarter worth approximately $578,000. Janney Montgomery Scott LLC acquired a new stake in shares of Tenet Healthcare during the first quarter worth approximately $537,000. BNP Paribas Financial Markets grew its position in shares of Tenet Healthcare by 113.5% during the first quarter. BNP Paribas Financial Markets now owns 54,878 shares of the company's stock worth $5,768,000 after buying an additional 29,172 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Tenet Healthcare by 0.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company's stock worth $1,325,000 after purchasing an additional 90 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in Tenet Healthcare by 0.3% in the first quarter. Retirement Systems of Alabama now owns 127,523 shares of the company's stock worth $13,404,000 after purchasing an additional 334 shares during the period. Institutional investors and hedge funds 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.