Barclays Boosts Tenet Healthcare (NYSE:THC) Price Target to $156.00

Tenet Healthcare (NYSE:THC) had its price objective hoisted by Barclays from $147.00 to $156.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on the company. Truist Financial restated a buy rating and set a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on Tenet Healthcare from $107.00 to $140.00 and gave the company an overweight rating in a report on Thursday, May 30th. UBS Group raised their target price on Tenet Healthcare from $137.00 to $150.00 and gave the company a buy rating in a report on Wednesday, May 1st. Stephens increased their price target on Tenet Healthcare from $95.00 to $122.00 and gave the company an equal weight rating in a research report on Wednesday, May 1st. Finally, Mizuho reaffirmed a buy rating and issued a $130.00 price target (up previously from $118.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare currently has a consensus rating of Buy and a consensus target price of $121.71.

Tenet Healthcare Stock Performance

NYSE THC opened at $134.46 on Wednesday. The stock has a market cap of $13.13 billion, a PE ratio of 5.22, a P/E/G ratio of 1.23 and a beta of 2.15. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. Tenet Healthcare has a twelve month low of $51.04 and a twelve month high of $142.35. The stock has a fifty day simple moving average of $132.66 and a 200-day simple moving average of $106.40.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the business posted $1.42 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Equities analysts anticipate that Tenet Healthcare will post 8.7 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other news, EVP Thomas W. Arnst sold 8,148 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tenet Healthcare news, Director Richard W. Fisher sold 1,400 shares of Tenet Healthcare stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $132.24, for a total transaction of $185,136.00. Following the transaction, the director now owns 16,227 shares of the company’s stock, valued at $2,145,858.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,691 shares of company stock valued at $3,117,909. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of THC. Tudor Investment Corp Et Al grew its stake in shares of Tenet Healthcare by 40.7% in the 3rd quarter. Tudor Investment Corp Et Al now owns 36,172 shares of the company’s stock valued at $2,383,000 after purchasing an additional 10,460 shares during the last quarter. Comerica Bank purchased a new position in shares of Tenet Healthcare in the 3rd quarter valued at approximately $5,673,000. Neo Ivy Capital Management purchased a new position in shares of Tenet Healthcare in the 3rd quarter valued at approximately $155,000. Hudson Bay Capital Management LP boosted its stake in shares of Tenet Healthcare by 17.4% in the third quarter. Hudson Bay Capital Management LP now owns 77,637 shares of the company’s stock valued at $5,116,000 after buying an additional 11,484 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $67,000. 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.