UBS Group Boosts Tenet Healthcare (NYSE:THC) Price Target to $238.00

Tenet Healthcare (NYSE:THC - Get Free Report) had its price objective hoisted by equities researchers at UBS Group from $230.00 to $238.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's target price indicates a potential upside of 57.45% from the stock's current price.

THC has been the topic of a number of other reports. Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Royal Bank Of Canada increased their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group raised their price target on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Morgan Stanley raised their price target on Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, Barclays lifted their target price on Tenet Healthcare from $171.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.88.

Tenet Healthcare Price Performance

Shares of THC stock traded up $2.78 during trading hours on Wednesday, reaching $151.16. The company had a trading volume of 739,749 shares, compared to its average volume of 1,596,251. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.70 and a current ratio of 1.71. The stock has a fifty day moving average of $168.42 and a 200-day moving average of $145.02. The company has a market capitalization of $14.04 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.81 and a beta of 1.64. Tenet Healthcare has a 12-month low of $109.82 and a 12-month high of $185.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, topping the consensus estimate of $2.84 by $1.18. The company had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%. The firm's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 earnings per share. On average, equities analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insiders Place Their Bets

In other Tenet Healthcare news, Director James L. Bierman sold 13,836 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $159.58, for a total value of $2,207,948.88. Following the sale, the director directly owned 41,435 shares in the company, valued at $6,612,197.30. This trade represents a 25.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J Robert Kerrey sold 5,001 shares of the firm's stock in a transaction 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 completion of the sale, the director owned 22,377 shares in the company, valued at $3,322,984.50. This represents a 18.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,121 shares of company stock worth $8,846,305 in the last ninety days. 0.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in 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 purchasing an additional 463,552 shares during the period. Geode Capital Management LLC boosted its holdings in Tenet Healthcare by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock worth $268,591,000 after purchasing an additional 71,454 shares during the last quarter. Ameriprise Financial Inc. increased its position in Tenet Healthcare by 348.4% during the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock worth $263,905,000 after acquiring an additional 1,524,642 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Tenet Healthcare by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock valued at $225,297,000 after purchasing an additional 181,667 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Tenet Healthcare during the 1st quarter valued at approximately $218,549,000. 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.