Tenet Healthcare (NYSE:THC) Upgraded by Wells Fargo & Company to "Overweight" Rating

Wells Fargo & Company upgraded shares of Tenet Healthcare (NYSE:THC - Free Report) from an equal weight rating to an overweight rating in a research note released on Thursday morning, Marketbeat.com reports. Wells Fargo & Company currently has $195.00 price objective on the stock, up from their prior price objective of $150.00.

Other research analysts have also recently issued reports about the stock. Baird R W cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Robert W. Baird reiterated a "neutral" rating and set a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. The Goldman Sachs Group lifted their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a report on Monday, May 5th. TD Cowen initiated coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target on the stock. Finally, Royal Bank of Canada boosted their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.59.

Tenet Healthcare Stock Up 1.5%

NYSE:THC traded up $2.56 during trading hours on Thursday, reaching $168.82. The company had a trading volume of 2,250,200 shares, compared to its average volume of 1,516,611. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm has a market cap of $15.68 billion, a price-to-earnings ratio of 5.24, a P/E/G ratio of 1.02 and a beta of 1.63. The business's 50-day simple moving average is $140.71 and its two-hundred day simple moving average is $136.62. Tenet Healthcare has a twelve month low of $109.82 and a twelve month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping analysts' consensus estimates 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 15.48% and a return on equity of 21.88%. The business's quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the company posted $3.22 earnings per share. On average, equities analysts expect that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In other news, Director James L. Bierman sold 4,613 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $170.00, for a total value of $784,210.00. Following the sale, the director now owns 35,271 shares of the company's stock, valued at $5,996,070. The trade was a 11.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paola M. Arbour sold 6,461 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the completion of the sale, the executive vice president now directly owns 27,848 shares in the company, valued at approximately $4,461,249.60. This trade represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,072 shares of company stock worth $8,557,590 over the last three months. 0.81% of the stock is currently owned by insiders.

Institutional Trading of Tenet Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC increased its holdings in Tenet Healthcare by 20.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 1,655 shares of the company's stock worth $209,000 after acquiring an additional 285 shares during the period. Blue Trust Inc. increased its holdings in shares of Tenet Healthcare by 172.3% in the 4th quarter. Blue Trust Inc. now owns 689 shares of the company's stock worth $87,000 after buying an additional 436 shares during the last quarter. KBC Group NV increased its holdings in shares of Tenet Healthcare by 23.0% in the 4th quarter. KBC Group NV now owns 7,010 shares of the company's stock worth $885,000 after buying an additional 1,312 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Tenet Healthcare by 12.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 24,274 shares of the company's stock worth $3,064,000 after buying an additional 2,618 shares during the last quarter. Finally, Swedbank AB grew its holdings in shares of Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company's stock valued at $5,049,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors own 95.44% of the company's stock.

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.