Tenet Healthcare (NYSE:THC) Upgraded by Wall Street Zen to "Buy" Rating

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

THC has been the topic of a number of other research reports. Morgan Stanley boosted their price objective on Tenet Healthcare from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. TD Cowen began coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target on the stock. Truist Financial raised their target price on Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company raised Tenet Healthcare from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $150.00 to $195.00 in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $180.18.

Tenet Healthcare Price Performance

NYSE THC traded up $1.41 during mid-day trading on Friday, hitting $170.18. The stock had a trading volume of 1,964,111 shares, compared to its average volume of 1,527,730. Tenet Healthcare has a twelve month low of $109.82 and a twelve month high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The firm's 50 day moving average is $140.71 and its 200 day moving average is $136.26. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 5.28, a PEG ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period in the previous year, the business posted $3.22 earnings per share. Tenet Healthcare's quarterly revenue was down 2.5% on a year-over-year basis. Equities research analysts forecast that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director James L. Bierman sold 4,613 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $170.00, for a total transaction of $784,210.00. Following the transaction, the director now owns 35,271 shares of the company's stock, valued at approximately $5,996,070. This trade represents a 11.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J Robert Kerrey sold 5,001 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the sale, the director now directly owns 22,377 shares of the company's stock, valued at approximately $3,322,984.50. This trade represents a 18.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,072 shares of company stock valued at $8,557,590. 0.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds have recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Tenet Healthcare in the first quarter valued at $26,000. Wayfinding Financial LLC acquired a new stake in Tenet Healthcare during the 1st quarter worth approximately $28,000. SVB Wealth LLC acquired a new position in shares of Tenet Healthcare in the first quarter valued at approximately $30,000. Colonial Trust Co SC lifted its holdings in shares of Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after purchasing an additional 114 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in Tenet Healthcare in the 1st quarter valued at $31,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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.