Tenet Healthcare (NYSE:THC) Hits New 12-Month High at $136.30

Tenet Healthcare Co. (NYSE:THC) reached a new 52-week high during trading on Wednesday . The stock traded as high as $136.30 and last traded at $136.25, with a volume of 820296 shares traded. The stock had previously closed at $132.24.

Analyst Upgrades and Downgrades

Several research firms have recently commented on THC. Deutsche Bank Aktiengesellschaft raised their price objective on Tenet Healthcare from $126.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $104.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, April 10th. UBS Group lifted their target price on Tenet Healthcare from $137.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lifted their target price on Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, StockNews.com raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Friday. One equities research 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 stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $120.41.

Tenet Healthcare Trading Down 0.7 %

The stock has a fifty day moving average of $115.45 and a 200-day moving average of $94.83. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.37 and a current ratio of 1.44. The company has a market cap of $13.06 billion, a PE ratio of 5.21, a PEG ratio of 1.39 and a beta of 2.12.

Tenet Healthcare (NYSE:THC) last issued its 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. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. Tenet Healthcare’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS. Sell-side analysts anticipate that Tenet Healthcare Co. will post 8.76 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

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

Institutional Trading of Tenet Healthcare

Hedge funds have recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in shares of Tenet Healthcare in the first quarter worth about $29,000. GAMMA Investing LLC purchased a new position in Tenet Healthcare during the fourth quarter worth approximately $52,000. Sunbelt Securities Inc. purchased a new position in Tenet Healthcare during the third quarter worth approximately $67,000. FinTrust Capital Advisors LLC boosted its position in Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after purchasing an additional 467 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Tenet Healthcare during the first quarter worth approximately $78,000. Hedge funds and other 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.