Tenet Healthcare (NYSE:THC) Earns Outperform Rating from Raymond James Financial

Tenet Healthcare (NYSE:THC - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Raymond James Financial in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $200.00 price objective on the stock, up from their previous price objective of $185.00. Raymond James Financial's target price would indicate a potential upside of 32.64% from the stock's current price.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group lifted their price target on Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Royal Bank Of Canada boosted their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Bank of America boosted their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Barclays boosted their price objective on Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. Finally, UBS Group upped their price target on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and an average target price of $188.88.

Tenet Healthcare Trading Up 1.6%

Tenet Healthcare stock traded up $2.40 during midday trading on Wednesday, reaching $150.78. 421,113 shares of the stock traded hands, compared to its average volume of 1,593,832. The company has a 50-day simple moving average of $168.42 and a two-hundred day simple moving average of $145.02. The company has a current ratio of 1.71, a quick ratio of 1.70 and a debt-to-equity ratio of 2.39. Tenet Healthcare has a 12-month low of $109.82 and a 12-month high of $185.25. The firm has a market cap of $14.01 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.81 and a beta of 1.64.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, beating the consensus estimate of $2.84 by $1.18. The company had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm's revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.31 EPS. Research analysts expect that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insider Activity

In other Tenet Healthcare news, Director Richard W. Fisher sold 3,077 shares of the stock in a transaction 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 completion of the transaction, the director owned 12,128 shares in the company, valued at approximately $2,009,852.16. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James L. Bierman sold 13,836 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $159.58, for a total value of $2,207,948.88. Following the completion of the transaction, the director directly owned 41,435 shares of the company's stock, valued at $6,612,197.30. The trade was a 25.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,121 shares of company stock valued at $8,846,305 over the last ninety days. 0.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in Tenet Healthcare by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock worth $1,021,736,000 after buying an additional 463,552 shares during the last quarter. Geode Capital Management LLC raised its holdings in Tenet Healthcare by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock worth $268,591,000 after purchasing an additional 71,454 shares in the last quarter. Ameriprise Financial Inc. raised its position in Tenet Healthcare by 348.4% in the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock worth $263,905,000 after acquiring an additional 1,524,642 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Tenet Healthcare by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock worth $225,297,000 after buying an additional 181,667 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at about $218,549,000. 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.