Tenet Healthcare (NYSE:THC) PT Raised to $171.00

Tenet Healthcare (NYSE:THC) had its price objective hoisted by Barclays from $156.00 to $171.00 in a research note released on Monday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms have also recently commented on THC. Robert W. Baird began coverage on shares of Tenet Healthcare in a research note on Thursday, May 30th. They set an outperform rating and a $153.00 price target for the company. Citigroup increased their price target on Tenet Healthcare from $139.00 to $171.00 and gave the stock a buy rating in a report on Thursday, July 25th. Raymond James boosted their price objective on Tenet Healthcare from $130.00 to $175.00 and gave the company a strong-buy rating in a report on Thursday, July 25th. Baird R W upgraded Tenet Healthcare to a strong-buy rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Tenet Healthcare from $107.00 to $140.00 and gave the stock an overweight rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of Buy and an average target price of $146.71.

Tenet Healthcare Trading Down 0.3 %

THC stock opened at $149.70 on Monday. The firm has a market cap of $14.62 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 0.78 and a beta of 2.15. The firm has a fifty day moving average price of $136.19 and a 200 day moving average price of $112.42. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.38 and a current ratio of 1.45. Tenet Healthcare has a fifty-two week low of $51.04 and a fifty-two week high of $155.00.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data 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. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same period last year, the company earned $1.42 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Tenet Healthcare will post 10.68 earnings per share for the current fiscal year.

Tenet Healthcare announced that its board has approved a stock repurchase plan on Wednesday, July 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Nadja West sold 1,782 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $126.41, for a total transaction of $225,262.62. Following the sale, the director now directly owns 29,680 shares of the company’s stock, valued at $3,751,848.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Tenet Healthcare news, Director Nadja West sold 1,782 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $126.41, for a total value of $225,262.62. Following the sale, the director now directly owns 29,680 shares of the company’s stock, valued at $3,751,848.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher S. Lynch sold 10,861 shares of Tenet Healthcare stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the completion of the sale, the director now directly 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 quarter, insiders sold 16,543 shares of company stock worth $2,171,926. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Tenet Healthcare during the second quarter worth $28,000. ORG Partners LLC acquired a new stake in Tenet Healthcare in the 2nd quarter valued at about $31,000. Blue Trust Inc. lifted its stake in Tenet Healthcare by 93.0% in the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after purchasing an additional 120 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $29,000. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Tenet Healthcare by 759.5% in the second quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company’s stock valued at $48,000 after purchasing an additional 319 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

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.