Tenet Healthcare (NYSE:THC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tenet Healthcare (NYSE:THC - Free Report) from a hold rating to a buy rating in a research note released on Sunday morning.

Several other research firms have also recently issued reports on THC. Morgan Stanley increased their price target on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Guggenheim began coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 target price on the stock. TD Cowen started coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price target for the company. 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 note on Wednesday, April 30th. Finally, Stephens raised Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of "Moderate Buy" and a consensus target price of $182.24.

Tenet Healthcare Stock Up 0.0%

Shares of THC stock traded up $0.07 during mid-day trading on Friday, reaching $167.53. 1,878,258 shares of the company were exchanged, compared to its average volume of 1,621,424. The company has a market capitalization of $15.56 billion, a P/E ratio of 11.08, a P/E/G ratio of 1.22 and a beta of 1.65. The business's 50 day simple moving average is $150.42 and its 200 day simple moving average is $138.14. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare has a fifty-two week low of $109.82 and a fifty-two week high of $174.14.

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 (EPS) for the quarter, beating the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period in the prior year, the company posted $3.22 EPS. The business's revenue was down 2.5% compared to the same quarter last year. Research analysts predict that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Activity

In other news, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $148.50, for a total transaction of $742,648.50. Following the transaction, the director now owns 22,377 shares in the company, valued at approximately $3,322,984.50. This trade represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard W. Fisher sold 836 shares of Tenet Healthcare stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.16, for a total value of $144,761.76. Following the completion of the transaction, the director now owns 11,292 shares in the company, valued at approximately $1,955,322.72. This represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock worth $8,846,305 in the last quarter. Corporate insiders own 0.81% of the company's stock.

Hedge Funds Weigh In On Tenet Healthcare

Large investors have recently modified their holdings of the business. US Bancorp DE raised its stake in Tenet Healthcare by 0.8% during the first quarter. US Bancorp DE now owns 8,620 shares of the company's stock worth $1,159,000 after buying an additional 68 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Tenet Healthcare by 5.3% in the 1st quarter. Lindbrook Capital LLC now owns 1,427 shares of the company's stock worth $192,000 after acquiring an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after purchasing an additional 80 shares during the period. Covestor Ltd boosted its position in shares of Tenet Healthcare by 10.4% during the 1st quarter. Covestor Ltd now owns 873 shares of the company's stock valued at $117,000 after purchasing an additional 82 shares in the last quarter. Finally, GeoWealth Management LLC increased its holdings in Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after purchasing an additional 84 shares in 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.