UBS Group Forecasts Strong Price Appreciation for Tenet Healthcare (NYSE:THC) Stock

Tenet Healthcare (NYSE:THC - Get Free Report) had its price target boosted by analysts at UBS Group from $217.00 to $230.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 55.19% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Morgan Stanley assumed coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 price target on the stock. StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. KeyCorp reduced their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Finally, Guggenheim began coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $172.19.

Tenet Healthcare Stock Up 2.0 %

Shares of NYSE:THC traded up $2.92 during midday trading on Wednesday, hitting $148.21. 1,467,131 shares of the company's stock traded hands, compared to its average volume of 1,559,298. Tenet Healthcare has a twelve month low of $109.82 and a twelve month high of $171.20. The company has a market cap of $13.99 billion, a PE ratio of 4.60, a P/E/G ratio of 1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The firm's fifty day moving average price is $127.09 and its two-hundred day moving average price is $136.28.

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

Insider Activity

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the sale, the director now owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.81% of the company's stock.

Institutional Trading of Tenet Healthcare

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in Tenet Healthcare by 11.9% in the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company's stock valued at $71,077,000 after buying an additional 48,580 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Tenet Healthcare by 46.6% during the 3rd quarter. Retirement Systems of Alabama now owns 176,757 shares of the company's stock worth $29,377,000 after acquiring an additional 56,193 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Tenet Healthcare by 101.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company's stock worth $1,281,000 after acquiring an additional 3,973 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Tenet Healthcare by 13.5% in the 4th quarter. Nordea Investment Management AB now owns 83,793 shares of the company's stock valued at $10,577,000 after purchasing an additional 9,946 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in Tenet Healthcare in the 4th quarter worth about $1,758,000. 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.