Tenet Healthcare (NYSE:THC - Get Free Report) had its target price upped by equities research analysts at Guggenheim from $180.00 to $188.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price objective would indicate a potential upside of 20.48% from the stock's previous close.
Other research analysts also recently issued research reports about the company. Bank of America lifted their price target on Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Baird R W cut Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. The Goldman Sachs Group boosted their price target on Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Stephens raised Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, Barclays boosted their price objective on Tenet Healthcare from $171.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Four 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's stock. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of "Moderate Buy" and an average target price of $186.76.
Check Out Our Latest Stock Analysis on THC
Tenet Healthcare Stock Down 10.7%
Shares of Tenet Healthcare stock opened at $156.04 on Wednesday. The stock's fifty day moving average is $168.78 and its 200-day moving average is $144.78. The firm has a market capitalization of $14.49 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 1.35 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 12-month low of $109.82 and a 12-month high of $185.25.
Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. The company had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. Tenet Healthcare's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.31 earnings per share. Equities analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current year.
Insiders Place Their Bets
In related news, EVP Thomas W. Arnst sold 9,786 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $166.00, for a total transaction of $1,624,476.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James L. Bierman sold 13,836 shares of the stock in a transaction 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 owned 41,435 shares in the company, 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 worth $8,846,305 in the last 90 days. 0.81% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Tenet Healthcare in the 1st quarter valued at $26,000. Chung Wu Investment Group LLC bought a new position in shares of Tenet Healthcare in the 2nd quarter worth $35,000. Wayfinding Financial LLC bought a new position in shares of Tenet Healthcare in the 1st quarter worth $28,000. SVB Wealth LLC bought a new position in shares of Tenet Healthcare in the 1st quarter worth $30,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Tenet Healthcare in the 1st quarter worth $31,000. 95.44% of the stock is currently owned by institutional investors.
Tenet Healthcare Company Profile
(
Get Free Report)
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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