Tenet Healthcare (NYSE:THC) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Tenet Healthcare (NYSE:THC) in a research note released on Tuesday morning, Benzinga reports. Cantor Fitzgerald currently has a $112.00 price target on the stock.

Several other research firms also recently issued reports on THC. Robert W. Baird initiated coverage on Tenet Healthcare in a research note on Thursday, May 30th. They issued an outperform rating and a $153.00 price objective for the company. Truist Financial reiterated a buy rating and set a $130.00 price target (up previously from $120.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. Wolfe Research upgraded Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price objective for the company in a report on Wednesday, March 27th. UBS Group lifted their target price on Tenet Healthcare from $137.00 to $150.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company raised their price objective on Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. 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. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $121.18.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $135.84 on Tuesday. The stock has a market cap of $13.27 billion, a PE ratio of 5.27, a P/E/G ratio of 1.39 and a beta of 2.15. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $142.35. The business’s 50-day moving average price is $130.10 and its two-hundred day moving average price is $104.04.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping 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 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 company earned $1.42 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Tenet Healthcare will post 8.55 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In related news, EVP Thomas W. Arnst sold 8,148 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Richard W. Fisher sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total value of $308,000.00. Following the sale, the director now owns 17,627 shares in the company, valued at approximately $2,171,646.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas W. Arnst sold 8,148 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were 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. Insiders have sold 24,691 shares of company stock valued at $3,117,909 in the last 90 days. 0.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Tenet Healthcare by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after buying an additional 172,913 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Tenet Healthcare by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock worth $831,947,000 after purchasing an additional 790,684 shares during the last quarter. Glenview Capital Management LLC increased its position in shares of Tenet Healthcare by 12.8% during the 4th quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock valued at $585,087,000 after purchasing an additional 877,180 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Tenet Healthcare by 16.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company’s stock worth $114,629,000 after purchasing an additional 212,185 shares during the period. Finally, Greenlight Capital Inc. grew its position in Tenet Healthcare by 44.3% during the fourth quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after buying an additional 404,190 shares during the period. 95.44% of the stock is owned by 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.