Mizuho Raises Tenet Healthcare (NYSE:THC) Price Target to $100.00

Tenet Healthcare (NYSE:THCFree Report) had its price target upped by Mizuho from $90.00 to $100.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on THC. Cantor Fitzgerald increased their price target on Tenet Healthcare from $94.00 to $104.00 and gave the company an overweight rating in a report on Friday. StockNews.com raised Tenet Healthcare from a hold rating to a buy rating in a report on Saturday, December 16th. JPMorgan Chase & Co. decreased their target price on Tenet Healthcare from $91.00 to $81.00 and set an overweight rating on the stock in a report on Friday, November 17th. Truist Financial reaffirmed a buy rating and issued a $92.00 target price on shares of Tenet Healthcare in a report on Monday, November 20th. Finally, UBS Group decreased their target price on Tenet Healthcare from $104.00 to $94.00 and set a buy rating on the stock in a report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $92.47.

Get Our Latest Stock Report on THC

Tenet Healthcare Stock Performance

THC stock opened at $90.54 on Friday. The stock has a market capitalization of $9.19 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 4.66 and a beta of 2.10. Tenet Healthcare has a 12-month low of $49.76 and a 12-month high of $91.85. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. The stock’s 50 day simple moving average is $79.11 and its 200 day simple moving average is $70.70.

Tenet Healthcare (NYSE:THCGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $1.10. The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 EPS. As a group, research analysts forecast that Tenet Healthcare will post 6.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 5,000 shares of Tenet Healthcare stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.33, for a total value of $331,650.00. Following the completion of the transaction, the director now owns 23,227 shares in the company, valued at $1,540,646.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Tenet Healthcare

Several institutional investors have recently added to or reduced their stakes in THC. US Bancorp DE lifted its stake in Tenet Healthcare by 14.6% in the first quarter. US Bancorp DE now owns 1,428 shares of the company’s stock worth $123,000 after purchasing an additional 182 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Tenet Healthcare during the first quarter valued at approximately $219,000. Natixis Advisors L.P. bought a new stake in shares of Tenet Healthcare during the first quarter valued at approximately $1,651,000. APG Asset Management N.V. bought a new stake in shares of Tenet Healthcare during the first quarter valued at approximately $1,769,000. Finally, Great West Life Assurance Co. Can raised its stake in shares of Tenet Healthcare by 13.2% during the first quarter. Great West Life Assurance Co. Can now owns 63,273 shares of the company’s stock valued at $5,604,000 after acquiring an additional 7,365 shares in the last quarter. Institutional investors own 93.56% of the company’s stock.

About Tenet Healthcare

(Get Free Report)

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Featured Stories

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.