Tenet Healthcare (NYSE:THC) Hits New 52-Week High - What's Next?

Shares of Tenet Healthcare Corporation (NYSE:THC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $179.91 and last traded at $178.97, with a volume of 125191 shares. The stock had previously closed at $177.74.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on THC. Robert W. Baird reiterated a "neutral" rating and set a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. UBS Group raised their price objective 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. Royal Bank Of Canada raised their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Mizuho lifted their price target on shares of Tenet Healthcare from $184.00 to $194.00 and gave the company an "outperform" rating in a research report on Friday, July 11th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $185.41.

Tenet Healthcare Trading Down 0.1%

The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.23. The stock has a market cap of $16.25 billion, a P/E ratio of 11.57, a PEG ratio of 1.35 and a beta of 1.64. The firm's 50-day simple moving average is $168.41 and its 200 day simple moving average is $144.08.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $1.25. The business had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. Tenet Healthcare had a net margin of 7.09% and a return on equity of 22.58%. The business's revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $3.22 earnings per share. As a group, equities research analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Activity

In other Tenet Healthcare news, EVP Paola M. Arbour sold 7,738 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the sale, the executive vice president owned 20,110 shares in the company, valued at $3,479,030. This represents a 27.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 54,121 shares of company stock valued at $8,846,305 in the last ninety days. 0.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Tenet Healthcare during the 1st quarter worth $26,000. Wayfinding Financial LLC acquired a new position in Tenet Healthcare in the 1st quarter valued at $28,000. SVB Wealth LLC acquired a new position in Tenet Healthcare in the 1st quarter valued at $30,000. Colonial Trust Co SC grew its position in Tenet Healthcare by 85.7% in the 4th 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 last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Tenet Healthcare during the 1st quarter worth about $31,000. Institutional investors and hedge funds 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.