Tenet Healthcare (NYSE:THC) Price Target Raised to $136.00

Tenet Healthcare (NYSE:THC) had its price target hoisted by Royal Bank of Canada from $109.00 to $136.00 in a research report released on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other analysts also recently commented on the stock. Cantor Fitzgerald restated an overweight rating and set a $104.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Mizuho reaffirmed a buy rating and issued a $130.00 price objective (up previously from $118.00) on shares of Tenet Healthcare in a research note on Wednesday. UBS Group boosted their price target on Tenet Healthcare from $137.00 to $150.00 and gave the stock a buy rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the company a buy rating in a report on Friday, April 12th. Finally, Truist Financial reaffirmed a buy rating and set a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a research note on Wednesday. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare currently has an average rating of Buy and an average price target of $113.19.

Tenet Healthcare Trading Up 1.1 %

Shares of Tenet Healthcare stock opened at $120.28 on Wednesday. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.42. The stock has a market capitalization of $11.75 billion, a PE ratio of 4.67, a P/E/G ratio of 2.63 and a beta of 2.09. Tenet Healthcare has a 1-year low of $51.04 and a 1-year high of $121.72. The company’s fifty day simple moving average is $99.82 and its 200-day simple moving average is $81.94.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 earnings per share. As a group, equities analysts anticipate that Tenet Healthcare will post 8.89 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,416 shares of company stock worth $5,890,793. 0.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of institutional investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new position in Tenet Healthcare in the first quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in shares of Tenet Healthcare during the fourth quarter valued at $52,000. Sunbelt Securities Inc. bought a new stake in shares of Tenet Healthcare in the third quarter valued at about $67,000. FinTrust Capital Advisors LLC grew its holdings in Tenet Healthcare by 108.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after acquiring an additional 467 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter valued at about $78,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

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.