Tenet Healthcare (NYSE:THC) Lifted to Strong-Buy at Baird R W

Baird R W upgraded shares of Tenet Healthcare (NYSE:THC) to a strong-buy rating in a research note issued to investors on Thursday, Zacks.com reports.

Other analysts have also issued research reports about the stock. UBS Group boosted their price target on shares of Tenet Healthcare from $137.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tenet Healthcare from $126.00 to $150.00 and gave the stock a buy rating in a report on Thursday. Cantor Fitzgerald reissued an overweight rating and issued a $104.00 price target on shares of Tenet Healthcare in a report on Wednesday, April 10th. TheStreet raised shares of Tenet Healthcare from a c+ rating to a b- rating in a report on Tuesday, February 6th. Finally, Wolfe Research upgraded shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price target on the stock in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $120.41.

Tenet Healthcare Price Performance

NYSE:THC opened at $135.22 on Thursday. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $135.75. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 5.25, a P/E/G ratio of 1.37 and a beta of 2.09. The firm’s 50-day simple moving average is $113.03 and its 200 day simple moving average is $93.00. 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 results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same period last year, the company posted $1.42 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Tenet Healthcare will post 8.73 earnings per share for the current year.

Insider Buying and Selling

In other Tenet Healthcare news, Director Nadja West sold 1,782 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $126.41, for a total value of $225,262.62. Following the sale, the director now owns 29,680 shares of the company’s stock, valued at approximately $3,751,848.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Richard W. Fisher sold 2,500 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $123.20, for a total transaction of $308,000.00. Following the transaction, the director now owns 17,627 shares of the company’s stock, valued at approximately $2,171,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nadja West sold 1,782 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $126.41, for a total value of $225,262.62. Following the transaction, the director now directly owns 29,680 shares in the company, valued at approximately $3,751,848.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,598 shares of company stock valued at $4,626,535. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC purchased a new stake in Tenet Healthcare in the first quarter valued at $29,000. GAMMA Investing LLC acquired a new stake in Tenet Healthcare during the 4th quarter worth approximately $52,000. Sunbelt Securities Inc. purchased a new position in shares of Tenet Healthcare during the 3rd quarter worth approximately $67,000. FinTrust Capital Advisors LLC increased its stake in Tenet Healthcare by 108.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after purchasing an additional 467 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in Tenet Healthcare during the 1st quarter valued at $78,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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.