Tenet Healthcare (NYSE:THC) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

Tenet Healthcare (NYSE:THC – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

A number of other research analysts have also issued reports on the stock. KeyCorp decreased their target price on shares of Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Guggenheim reduced their price target on Tenet Healthcare from $252.00 to $242.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. UBS Group lifted their price objective on Tenet Healthcare from $288.00 to $308.00 and gave the company a “buy” rating in a report on Friday. Royal Bank Of Canada cut their target price on Tenet Healthcare from $277.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Robert W. Baird dropped their price target on Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $257.90.

Read Our Latest Report on THC

Tenet Healthcare Stock Performance

NYSE:THC opened at $242.42 on Friday. The stock has a 50 day simple moving average of $186.16 and a 200 day simple moving average of $197.79. The stock has a market cap of $20.88 billion, a P/E ratio of 9.35, a PEG ratio of 1.61 and a beta of 1.27. Tenet Healthcare has a 1-year low of $151.00 and a 1-year high of $248.82. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00.

Tenet Healthcare (NYSE:THC – Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The company reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The firm had revenue of $6.04 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the business earned $4.02 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Research analysts anticipate that Tenet Healthcare will post 21 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,638 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $174.52, for a total transaction of $983,943.76. Following the completion of the transaction, the director owned 16,804 shares of the company’s stock, valued at approximately $2,932,634.08. The trade was a 25.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nadja West sold 3,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $177.35, for a total transaction of $532,050.00. Following the completion of the transaction, the director directly owned 24,805 shares of the company’s stock, valued at $4,399,166.75. This trade represents a 10.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of THC. Triumph Capital Management acquired a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $25,000. Activest Wealth Management acquired a new stake in shares of Tenet Healthcare during the fourth quarter valued at about $26,000. Elyxium Wealth LLC bought a new stake in shares of Tenet Healthcare during the fourth quarter worth about $29,000. Meeder Asset Management Inc. increased its stake in shares of Tenet Healthcare by 146.2% in the fourth quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock valued at $38,000 after buying an additional 114 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Tenet Healthcare in the 2nd quarter valued at approximately $35,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Company Profile

(Get Free Report)

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.

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