Tenet Healthcare Corporation (NYSE:THC - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $207.97 and last traded at $207.97, with a volume of 349147 shares traded. The stock had previously closed at $205.12.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on THC shares. Wells Fargo & Company raised their price target on Tenet Healthcare from $200.00 to $238.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 7th. KeyCorp lifted their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Zacks Research cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Finally, The Goldman Sachs Group started coverage on shares of Tenet Healthcare in a report on Tuesday, October 14th. They set a "buy" rating and a $224.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus target price of $209.25.
Read Our Latest Report on Tenet Healthcare
Tenet Healthcare Stock Performance
The firm's 50-day moving average is $191.24 and its 200 day moving average is $168.33. The stock has a market cap of $18.38 billion, a PE ratio of 13.31, a P/E/G ratio of 0.87 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71.
Tenet Healthcare (NYSE:THC - Get Free Report) last released 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 firm had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. Tenet Healthcare's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 EPS. As a group, research analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current year.
Insider Activity at Tenet Healthcare
In related news, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the sale, the chief executive officer directly owned 368,683 shares of the company's stock, valued at approximately $70,337,342.74. This represents a 17.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the sale, the director directly owned 12,358 shares in the company, valued at approximately $2,179,827.62. The trade was a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,722 shares of company stock valued at $17,161,015. Insiders own 0.81% of the company's stock.
Hedge Funds Weigh In On Tenet Healthcare
Several institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Tenet Healthcare by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock valued at $1,021,736,000 after buying an additional 463,552 shares during the period. Boston Partners boosted its position in shares of Tenet Healthcare by 95.0% in the second quarter. Boston Partners now owns 2,267,142 shares of the company's stock worth $398,949,000 after acquiring an additional 1,104,500 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Tenet Healthcare by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company's stock worth $373,020,000 after acquiring an additional 157,109 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Tenet Healthcare by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock valued at $225,297,000 after buying an additional 181,667 shares during the period. Finally, Nuveen LLC purchased a new position in Tenet Healthcare in the first quarter valued at approximately $218,549,000. Hedge funds and other institutional investors own 95.44% of the company's stock.
About Tenet Healthcare
(
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.
Further Reading
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