Tenet Healthcare (NYSE:THC) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Tenet Healthcare (NYSE:THC) from a buy rating to a strong-buy rating in a research report report published on Friday morning.

Other analysts also recently issued research reports about the company. Wells Fargo & Company boosted their target price on Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. Cantor Fitzgerald restated an overweight rating and issued a $104.00 target price on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Tenet Healthcare from $126.00 to $150.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Stephens boosted their target price on Tenet Healthcare from $95.00 to $122.00 and gave the stock an equal weight rating in a research report on Wednesday, May 1st. Finally, Truist Financial reiterated a buy rating and issued a $130.00 price objective (up previously from $120.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $120.41.

Tenet Healthcare Stock Down 0.7 %

THC stock opened at $133.73 on Friday. Tenet Healthcare has a twelve month low of $51.04 and a twelve month high of $136.80. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $13.06 billion, a PE ratio of 5.19, a PEG ratio of 1.37 and a beta of 2.12. The stock has a 50-day simple moving average of $116.02 and a two-hundred day simple moving average of $95.71.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. Tenet Healthcare’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that Tenet Healthcare will post 8.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Christopher S. Lynch sold 10,861 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $133.83, for a total value of $1,453,527.63. Following the sale, the director now directly owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Christopher S. Lynch sold 10,861 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $133.83, for a total value of $1,453,527.63. Following the sale, the director now directly owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard J. Mark sold 14,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the sale, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The disclosure for this sale can be found here. Insiders have sold a total of 37,291 shares of company stock valued at $4,318,493 over the last ninety days. Company insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of THC. Boston Partners lifted its holdings in Tenet Healthcare by 230.4% in the first quarter. Boston Partners now owns 119,348 shares of the company’s stock valued at $12,527,000 after acquiring an additional 83,231 shares during the period. Cetera Advisors LLC bought a new position in Tenet Healthcare in the first quarter valued at about $227,000. Cetera Investment Advisers bought a new position in Tenet Healthcare in the first quarter valued at about $1,772,000. Farallon Capital Management LLC lifted its holdings in Tenet Healthcare by 70.1% in the first quarter. Farallon Capital Management LLC now owns 637,442 shares of the company’s stock valued at $67,002,000 after acquiring an additional 262,600 shares during the period. Finally, Virtu Financial LLC bought a new position in Tenet Healthcare in the first quarter valued at about $1,240,000. 95.44% of the stock is owned by 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.