Tenet Healthcare (NYSE:THC) Upgraded at Wall Street Zen

Tenet Healthcare (NYSE:THC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

THC has been the topic of several other research reports. UBS Group boosted 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. Truist Financial raised their price target on Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Cantor Fitzgerald reissued an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Wells Fargo & Company raised shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $150.00 to $195.00 in a report on Thursday, May 29th. Finally, Bank of America raised their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $180.18.

Tenet Healthcare Stock Performance

THC traded up $3.13 during trading on Friday, hitting $173.25. 423,524 shares of the company traded hands, compared to its average volume of 1,521,497. The firm has a market cap of $16.09 billion, a P/E ratio of 5.38, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare has a one year low of $109.82 and a one year high of $173.34. The stock's fifty day moving average is $141.45 and its 200 day moving average is $136.36.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating the consensus estimate of $3.11 by $1.25. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Tenet Healthcare's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.22 earnings per share. As a group, equities analysts predict that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Activity

In other news, EVP Thomas W. Arnst sold 9,786 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total value of $1,624,476.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director J Robert Kerrey sold 1,222 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total transaction of $201,581.12. Following the transaction, the director now directly owns 22,377 shares of the company's stock, valued at approximately $3,691,309.92. This trade represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,072 shares of company stock valued at $8,557,590. Corporate insiders own 0.81% of the company's stock.

Institutional Investors Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of THC. Price T Rowe Associates Inc. MD raised its holdings in Tenet Healthcare by 6.5% in 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 purchasing an additional 463,552 shares in the last quarter. Geode Capital Management LLC boosted its position in Tenet Healthcare by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock valued at $268,591,000 after acquiring an additional 71,454 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Tenet Healthcare by 348.4% in the 1st 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 lifted its stake in shares of Tenet Healthcare by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock valued at $225,297,000 after purchasing an additional 181,667 shares during the period. Finally, Nuveen LLC purchased a new stake in Tenet Healthcare in the first quarter worth $218,549,000. Hedge funds and other institutional investors 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.