Tenet Healthcare (NYSE:THC) Given New $194.00 Price Target at Mizuho

Tenet Healthcare (NYSE:THC - Get Free Report) had its target price upped by equities researchers at Mizuho from $184.00 to $194.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's price objective would indicate a potential upside of 10.90% from the stock's current price.

Several other analysts have also issued reports on THC. Bank of America upped their target price on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Wells Fargo & Company upgraded shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $150.00 to $195.00 in a research report on Thursday, May 29th. Robert W. Baird restated a "neutral" rating and set a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Royal Bank Of Canada increased their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Barclays increased their price target on shares of Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $184.53.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded up $1.27 during midday trading on Friday, hitting $174.93. The stock had a trading volume of 347,179 shares, compared to its average volume of 1,552,532. The company's 50-day moving average price is $165.39 and its 200-day moving average price is $142.13. The company has a market capitalization of $16.25 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 1.25 and a beta of 1.64. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.23. Tenet Healthcare has a fifty-two week low of $109.82 and a fifty-two week high of $178.76.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $1.25. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 7.09% and a return on equity of 22.58%. The firm's revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.22 EPS. As a group, equities research analysts predict that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 7,738 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the transaction, the executive vice president directly owned 20,110 shares in the company, valued at $3,479,030. This represents a 27.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard W. Fisher sold 3,077 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total value of $509,920.44. Following the sale, the director directly owned 12,128 shares in the company, valued at $2,009,852.16. This trade represents a 20.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,121 shares of company stock worth $8,846,305 over the last quarter. Corporate insiders own 0.81% of the company's stock.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted its position in Tenet Healthcare by 0.8% during the first quarter. US Bancorp DE now owns 8,620 shares of the company's stock valued at $1,159,000 after purchasing an additional 68 shares in the last quarter. Lindbrook Capital LLC boosted its position in Tenet Healthcare by 5.3% during the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company's stock valued at $192,000 after purchasing an additional 72 shares in the last quarter. Vista Investment Partners LLC boosted its position in Tenet Healthcare by 0.3% during the second quarter. Vista Investment Partners LLC now owns 25,257 shares of the company's stock valued at $4,445,000 after purchasing an additional 76 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Tenet Healthcare by 9.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after purchasing an additional 80 shares in the last quarter. Finally, Covestor Ltd boosted its position in Tenet Healthcare by 10.4% during the first quarter. Covestor Ltd now owns 873 shares of the company's stock valued at $117,000 after purchasing an additional 82 shares in the last quarter. 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.

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