Mizuho Reaffirms Buy Rating for Tenet Healthcare (NYSE:THC)

Mizuho restated their buy rating on shares of Tenet Healthcare (NYSE:THC) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $130.00 target price on the stock, up from their prior target price of $118.00.

A number of other brokerages have also recently issued reports on THC. Wolfe Research raised shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 target price on the stock in a report on Wednesday, March 27th. Royal Bank of Canada lifted their target price on Tenet Healthcare from $97.00 to $109.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Cantor Fitzgerald reaffirmed an overweight rating and set a $104.00 price target on shares of Tenet Healthcare in a report on Wednesday, April 10th. Wells Fargo & Company increased their price objective on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Finally, Barclays assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, March 6th. They issued an overweight rating and a $113.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $113.19.

Tenet Healthcare Trading Up 1.1 %

Shares of NYSE:THC opened at $120.28 on Wednesday. The company’s fifty day simple moving average is $99.82 and its 200 day simple moving average is $81.94. Tenet Healthcare has a 12 month low of $51.04 and a 12 month high of $121.72. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of 4.67, a PEG ratio of 2.63 and a beta of 2.09. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping the consensus estimate 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 net margin of 12.53% and a return on equity of 26.76%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.42 earnings per share. As a group, research analysts forecast that Tenet Healthcare will post 8.89 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the transaction, the executive vice president now directly owns 29,803 shares in the company, valued at $2,889,698.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Paola M. Arbour sold 18,168 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the sale, the executive vice president now directly owns 29,803 shares in the company, valued at approximately $2,889,698.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the transaction, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at approximately $772,756.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,416 shares of company stock valued at $5,890,793. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

A number of hedge funds have recently made changes to their positions in THC. Mirae Asset Global Investments Co. Ltd. boosted its position in Tenet Healthcare by 0.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after buying an additional 90 shares during the period. Violich Capital Management Inc. lifted its holdings in shares of Tenet Healthcare by 3.2% during the first quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock worth $355,000 after purchasing an additional 105 shares during the period. GAMMA Investing LLC grew its stake in shares of Tenet Healthcare by 17.0% in the first quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock worth $77,000 after purchasing an additional 106 shares during the last quarter. Yousif Capital Management LLC raised its position in Tenet Healthcare by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock worth $3,236,000 after purchasing an additional 131 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its holdings in Tenet Healthcare by 1.7% during the 4th quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock worth $656,000 after buying an additional 145 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

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.