Tenet Healthcare (NYSE:THC) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Wall Street Zen upgraded Tenet Healthcare's stock from a "hold" rating to a "strong-buy" rating, reflecting positive sentiment from analysts.
• Goldman Sachs increased their price target for Tenet Healthcare from $134 to $154, while UBS raised theirs from $230 to $238, indicating optimism about future performance.
• Tenet Healthcare reported $4.02 EPS for the last quarter, exceeding expectations and showing a significant year-over-year revenue increase of 3.2%.

Tenet Healthcare (NYSE:THC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

Several other analysts also recently weighed in on THC. The Goldman Sachs Group lifted their target price 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. Morgan Stanley boosted their price objective on shares of Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Barclays decreased their price objective on shares of Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Mizuho upped their price target on shares of Tenet Healthcare from $184.00 to $194.00 and gave the company an "outperform" rating in a report on Friday, July 11th. Finally, Robert W. Baird lowered their price target on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare presently has an average rating of "Moderate Buy" and an average target price of $190.00.

Tenet Healthcare Stock Down 0.0%

THC stock traded down $0.05 during midday trading on Friday, hitting $156.47. The company's stock had a trading volume of 1,222,800 shares, compared to its average volume of 1,660,292. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. Tenet Healthcare has a 52-week low of $109.82 and a 52-week high of $185.25. The firm has a market capitalization of $14.53 billion, a P/E ratio of 10.02, a PEG ratio of 0.67 and a beta of 1.64. The firm has a 50-day simple moving average of $167.72 and a 200-day simple moving average of $145.67.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The business had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same period last year, the business earned $2.31 EPS. The company's revenue was up 3.2% on a year-over-year basis. As a group, equities analysts forecast that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 1,222 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total transaction of $201,581.12. Following the transaction, the director directly owned 22,377 shares in the company, valued at approximately $3,691,309.92. The trade was a 5.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 836 shares of Tenet Healthcare stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $173.16, for a total transaction of $144,761.76. Following the transaction, the director directly owned 11,292 shares of the company's stock, valued at approximately $1,955,322.72. This trade represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock valued at $8,846,305 over the last ninety days. Insiders own 0.81% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Tenet Healthcare in the first quarter valued at approximately $26,000. Chung Wu Investment Group LLC bought a new stake in Tenet Healthcare in the second quarter valued at approximately $35,000. Wayfinding Financial LLC bought a new stake in Tenet Healthcare in the first quarter valued at approximately $28,000. SVB Wealth LLC bought a new stake in Tenet Healthcare in the first quarter valued at approximately $30,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $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.