UBS Group Increases Tenet Healthcare (NYSE:THC) Price Target to $150.00

Tenet Healthcare (NYSE:THC) had its price target raised by UBS Group from $137.00 to $150.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a buy rating in a report on Friday, April 12th. Cantor Fitzgerald reaffirmed an overweight rating and set a $104.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, April 10th. TheStreet raised Tenet Healthcare from a c+ rating to a b- rating in a research report on Tuesday, February 6th. Mizuho reaffirmed a buy rating and issued a $130.00 price target (up from $118.00) on shares of Tenet Healthcare in a research note on Wednesday. Finally, Barclays started coverage on Tenet Healthcare in a research report on Wednesday, March 6th. They set an overweight rating and a $113.00 price objective for the company. 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’s stock. According to data from MarketBeat.com, Tenet Healthcare has an average rating of Buy and a consensus price target of $113.19.

Tenet Healthcare Stock Performance

NYSE:THC opened at $120.28 on Wednesday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.42 and a current ratio of 1.44. Tenet Healthcare has a fifty-two week low of $51.04 and a fifty-two week high of $121.72. The business has a 50 day moving average price of $100.37 and a 200-day moving average price of $82.40. The firm has a market cap of $11.75 billion, a PE ratio of 4.67, a price-to-earnings-growth ratio of 1.22 and a beta of 2.09.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. The firm had revenue of $5.37 billion for 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 company’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 earnings per share. Equities research analysts predict that Tenet Healthcare will post 8.73 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 8,148 shares in the company, valued at approximately $772,756.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas W. Arnst sold 17,000 shares of the company’s 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 sale, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,416 shares of company stock valued at $5,890,793. 0.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Tenet Healthcare during the 3rd quarter valued at approximately $152,000. Handelsbanken Fonder AB increased its stake in shares of Tenet Healthcare by 5.5% in the third quarter. Handelsbanken Fonder AB now owns 17,218 shares of the company’s stock worth $1,134,000 after purchasing an additional 900 shares in the last quarter. Raymond James & Associates raised its position in shares of Tenet Healthcare by 32.2% during the 3rd quarter. Raymond James & Associates now owns 135,477 shares of the company’s stock valued at $8,927,000 after purchasing an additional 32,992 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Tenet Healthcare by 11.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 100,502 shares of the company’s stock valued at $6,622,000 after buying an additional 10,141 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tenet Healthcare by 9.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,966 shares of the company’s stock valued at $1,250,000 after acquiring an additional 1,582 shares during the period. 95.44% of the stock is currently 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.