Tenet Healthcare (NYSE:THC) Price Target Raised to $155.00

Tenet Healthcare (NYSE:THC) had its target price boosted by Deutsche Bank Aktiengesellschaft from $150.00 to $155.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

THC has been the subject of several other research reports. Baird R W upgraded shares of Tenet Healthcare to a strong-buy rating in a research note on Thursday, May 30th. StockNews.com upgraded shares of Tenet Healthcare from a buy rating to a strong-buy rating in a research note on Friday, June 7th. Wells Fargo & Company raised their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Wolfe Research upgraded shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price target for the company in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada raised their price target on shares of Tenet Healthcare from $109.00 to $136.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $120.71.

Tenet Healthcare Trading Down 3.8 %

Shares of NYSE:THC opened at $133.03 on Friday. The company has a market cap of $12.99 billion, a P/E ratio of 5.16, a P/E/G ratio of 1.37 and a beta of 2.12. The stock’s 50-day moving average is $127.08 and its 200-day moving average is $102.78. Tenet Healthcare has a 52-week low of $51.04 and a 52-week high of $142.35. 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 issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $1.77. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.42 earnings per share. Equities research analysts predict that Tenet Healthcare will post 8.55 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 10,861 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher S. Lynch sold 10,861 shares of Tenet Healthcare stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the sale, the director now directly owns 14,759 shares of the company’s stock, valued at approximately $1,975,196.97. The disclosure for this sale can be found here. Insiders sold a total of 24,691 shares of company stock valued at $3,117,909 over the last quarter. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hamilton Wealth LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at $469,000. Boston Partners grew its holdings in shares of Tenet Healthcare by 230.4% in the 1st quarter. Boston Partners now owns 119,348 shares of the company’s stock valued at $12,527,000 after buying an additional 83,231 shares during the period. Cetera Advisors LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at $227,000. Cetera Investment Advisers acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at $1,772,000. Finally, Farallon Capital Management LLC lifted its position in Tenet Healthcare by 70.1% in the 1st 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 in the last quarter. Institutional investors and hedge funds 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.