Tenet Healthcare (NYSE:THC – Get Free Report) had its price objective boosted by Royal Bank Of Canada from $283.00 to $304.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective suggests a potential upside of 17.33% from the company’s current price.
A number of other equities research analysts also recently commented on THC. Mizuho set a $305.00 price objective on shares of Tenet Healthcare in a research report on Monday. Stephens reiterated an “overweight” rating and issued a $285.00 price objective on shares of Tenet Healthcare in a research note on Monday, July 27th. Barclays raised their price objective on shares of Tenet Healthcare from $240.00 to $271.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Morgan Stanley lifted their price objective on shares of Tenet Healthcare from $254.00 to $274.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Finally, Leerink Partners restated an “outperform” rating and set a $309.00 price target on shares of Tenet Healthcare in a research note on Friday, September 18th. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $284.16.
View Our Latest Analysis on Tenet Healthcare
Tenet Healthcare Trading Down 5.2%
NYSE THC traded down $14.15 during trading on Monday, hitting $259.10. The stock had a trading volume of 215,039 shares, compared to its average volume of 1,114,773. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $20.62 billion, a PE ratio of 7.54, a PEG ratio of 1.03 and a beta of 1.20. The firm has a 50 day moving average price of $264.85 and a 200 day moving average price of $220.34. Tenet Healthcare has a twelve month low of $157.58 and a twelve month high of $283.05.
Tenet Healthcare (NYSE:THC – Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $4.68 by $1.96. Tenet Healthcare had a net margin of 13.09% and a return on equity of 28.22%. The firm had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the prior year, the firm earned $3.70 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Tenet Healthcare will post 21.98 earnings per share for the current year.
Insider Activity at Tenet Healthcare
In other news, Director J. Robert Kerrey sold 12,010 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $263.72, for a total value of $3,167,277.20. Following the completion of the transaction, the director owned 4,794 shares of the company’s stock, valued at $1,264,273.68. The trade was a 71.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lisa Y. Foo sold 24,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $266.32, for a total value of $6,391,680.00. Following the completion of the transaction, the executive vice president owned 8,053 shares of the company’s stock, valued at $2,144,674.96. This trade represents a 74.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 106,484 shares of company stock valued at $28,898,063 in the last ninety days. 0.97% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of THC. V Square Quantitative Management LLC acquired a new position in Tenet Healthcare during the third quarter worth approximately $26,000. Mather Group LLC. lifted its stake in shares of Tenet Healthcare by 126.9% during the third quarter. Mather Group LLC. now owns 118 shares of the company’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Trust Co. of Vermont acquired a new position in Tenet Healthcare during the 2nd quarter worth approximately $37,000. MADDEN SECURITIES Corp purchased a new position in shares of Tenet Healthcare in the third quarter valued at $38,000. Finally, Compass Financial Management LLC acquired a new stake in shares of Tenet Healthcare during the second quarter valued at about $57,000. Institutional investors and hedge funds own 95.44% of the company’s stock.
Tenet Healthcare Company Profile
Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.
Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.
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