Barclays Increases Tenet Healthcare (NYSE:THC) Price Target to $147.00

Tenet Healthcare (NYSE:THC) had its target price boosted by equities research analysts at Barclays from $113.00 to $147.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 23.97% from the stock’s previous close.

THC has been the subject of a number of other reports. Royal Bank of Canada upped their price objective on shares of Tenet Healthcare from $109.00 to $136.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group boosted their target price on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho reaffirmed a “buy” rating and set a $130.00 target price (up previously from $118.00) on shares of Tenet Healthcare in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $130.00 price target (up from $120.00) on shares of Tenet Healthcare in a research note on Wednesday. Finally, Stephens increased their price objective on Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $113.19.

Tenet Healthcare Trading Up 2.3 %

Tenet Healthcare stock traded up $2.63 during trading on Thursday, reaching $118.58. The company had a trading volume of 1,262,992 shares, compared to its average volume of 1,193,109. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $120.03. The stock’s 50 day moving average price is $99.29 and its two-hundred day moving average price is $81.68. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 4.56, a PEG ratio of 2.55 and a beta of 2.09. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.42 and a current ratio of 1.44.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 30th. The company reported $3.22 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 for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts expect that Tenet Healthcare will post 8.89 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the sale, the director now owns 20,127 shares in the company, valued at approximately $1,775,402.67. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard J. Mark sold 14,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the sale, the director now directly owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,268 shares of company stock valued at $4,944,810. 0.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Tenet Healthcare by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after acquiring an additional 172,913 shares during the last quarter. Glenview Capital Management LLC raised its position in shares of Tenet Healthcare by 12.8% in the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock worth $585,087,000 after acquiring an additional 877,180 shares during the period. Dimensional Fund Advisors LP grew its stake in Tenet Healthcare by 16.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company’s stock valued at $114,629,000 after acquiring an additional 212,185 shares in the last quarter. Greenlight Capital Inc. grew its stake in Tenet Healthcare by 44.3% during the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after acquiring an additional 404,190 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Tenet Healthcare by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,043,214 shares of the company’s stock worth $78,836,000 after purchasing an additional 16,490 shares during the period. 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.