Tenet Healthcare (NYSE:THC) Price Target Increased to $147.00 by Analysts at Barclays

Tenet Healthcare (NYSE:THC) had its price objective increased by Barclays from $113.00 to $147.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

THC has been the topic of a number of other research reports. Wolfe Research upgraded Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price target on the stock in a research report on Wednesday, March 27th. Stephens lifted their price target on shares of Tenet Healthcare from $95.00 to $122.00 and gave the company an equal weight rating in a research note on Wednesday. Truist Financial reaffirmed a buy rating and set a $130.00 price objective (up from $120.00) on shares of Tenet Healthcare in a report on Wednesday. Royal Bank of Canada boosted their target price on shares of Tenet Healthcare from $109.00 to $136.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price objective on Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $113.19.

Tenet Healthcare Stock Performance

Shares of THC traded up $1.34 during mid-day trading on Thursday, reaching $120.28. The company had a trading volume of 1,695,112 shares, compared to its average volume of 1,350,059. The stock has a 50 day moving average of $100.37 and a two-hundred day moving average of $82.40. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The stock has a market capitalization of $11.75 billion, a P/E ratio of 4.67, a PEG ratio of 1.20 and a beta of 2.09. Tenet Healthcare has a 52-week low of $51.04 and a 52-week high of $121.72.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data 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 quarter last year, the company earned $1.42 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, analysts expect that Tenet Healthcare will post 8.73 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the sale, the executive vice president now owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,416 shares of company stock worth $5,890,793. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Tenet Healthcare by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock valued at $839,613,000 after buying an additional 172,913 shares during the period. Glenview Capital Management LLC increased its stake in Tenet Healthcare by 12.8% during the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock worth $585,087,000 after purchasing an additional 877,180 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Tenet Healthcare by 16.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company’s stock valued at $114,629,000 after purchasing an additional 212,185 shares during the period. Greenlight Capital Inc. grew its holdings in shares of Tenet Healthcare by 44.3% in the fourth quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after purchasing an additional 404,190 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Tenet Healthcare by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,043,214 shares of the company’s stock valued at $78,836,000 after buying an additional 16,490 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.