Tenet Healthcare (NYSE:THC) PT Raised to $195.00 at Wells Fargo & Company

Tenet Healthcare (NYSE:THC) had its price objective hoisted by Wells Fargo & Company from $175.00 to $195.00 in a report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Barclays increased their price objective on shares of Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Cantor Fitzgerald restated an “overweight” rating and set a $168.00 price objective on shares of Tenet Healthcare in a report on Tuesday, October 1st. The Goldman Sachs Group lifted their price target on shares of Tenet Healthcare from $156.00 to $173.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. UBS Group lifted their price objective on shares of Tenet Healthcare from $180.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Raymond James lifted their price target on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Tenet Healthcare currently has a consensus rating of “Buy” and a consensus price target of $157.24.

Tenet Healthcare Trading Down 7.5 %

NYSE THC opened at $139.70 on Tuesday. Tenet Healthcare has a 12 month low of $51.04 and a 12 month high of $171.20. The company has a current ratio of 1.45, a quick ratio of 1.38 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $13.65 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 0.80 and a beta of 2.14. The business’s 50-day moving average price is $159.85 and its two-hundred day moving average price is $140.23.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.42. Tenet Healthcare had a net margin of 13.17% and a return on equity of 24.66%. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $4.98 billion. On average, analysts expect that Tenet Healthcare will post 10.72 EPS for the current year.

Tenet Healthcare declared that its Board of Directors has authorized a share repurchase program on Wednesday, July 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to buy up to 10.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the sale, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Meghan Fitzgerald sold 20,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the sale, the director now owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R. Scott Ramsey sold 11,599 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the transaction, the insider now directly owns 6,324 shares of the company’s stock, valued at approximately $1,024,867.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,203 shares of company stock worth $19,754,997 over the last quarter. 0.93% of the stock is currently owned by company insiders.

Institutional Trading of Tenet Healthcare

A number of large investors have recently modified their holdings of THC. Price T Rowe Associates Inc. MD lifted its position in Tenet Healthcare by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock valued at $831,947,000 after purchasing an additional 790,684 shares during the last quarter. 8 Knots Management LLC increased its stake in Tenet Healthcare by 74.5% in the first quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock valued at $107,814,000 after acquiring an additional 438,033 shares during the last quarter. Marshall Wace LLP lifted its stake in Tenet Healthcare by 7.3% during the second quarter. Marshall Wace LLP now owns 713,979 shares of the company’s stock worth $94,981,000 after purchasing an additional 48,626 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in shares of Tenet Healthcare by 7.8% in the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company’s stock worth $91,450,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Integral Health Asset Management LLC raised its holdings in shares of Tenet Healthcare by 17.6% during the 2nd quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock valued at $66,515,000 after buying an additional 75,000 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

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.