Tenet Healthcare (NYSE:THC) Hits New 1-Year High at $121.73

Tenet Healthcare Co. (NYSE:THC) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $121.73 and last traded at $120.43, with a volume of 226604 shares traded. The stock had previously closed at $120.28.

Analyst Ratings Changes

THC has been the topic of several recent analyst reports. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft lifted 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. Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 target price for the company in a research report on Wednesday, March 27th. UBS Group raised their price objective on Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada increased their price target on Tenet Healthcare from $109.00 to $136.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $113.19.

Tenet Healthcare Trading Up 1.7 %

The business’s 50 day moving average price is $100.37 and its two-hundred day moving average price is $82.77. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 4.67, a price-to-earnings-growth ratio of 1.22 and a beta of 2.09. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.37 and a current ratio of 1.44.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $1.77. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.42 EPS. Equities analysts forecast that Tenet Healthcare Co. will post 8.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Tenet Healthcare by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock valued at $839,613,000 after acquiring an additional 172,913 shares during the last quarter. Glenview Capital Management LLC grew its holdings in shares of Tenet Healthcare by 12.8% during the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock worth $585,087,000 after purchasing an additional 877,180 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tenet Healthcare by 16.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company’s stock valued at $114,629,000 after buying an additional 212,185 shares in the last quarter. Greenlight Capital Inc. increased its position in Tenet Healthcare by 44.3% in the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after acquiring an additional 404,190 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Tenet Healthcare by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,043,214 shares of the company’s stock worth $78,836,000 after purchasing an additional 16,490 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.