Tenet Healthcare (NYSE:THC – Get Note) had its price target raised by analysts at SVB Leerink from $100.00 to $110.00 in a report on Friday, Benzinga reports. The company currently has an “outperform” rating on the stock. SVB Leerink’s target price indicates an upside potential of 26.92% from the company’s current price.
Other stock analysts have also released reports on the stock. Citigroup raised its price target on shares of Tenet Healthcare from $96.00 to $110.00 in a report on Friday. Barclays raised its target price on shares of Tenet Healthcare from $99.00 to $104.00 in a research note on Friday. UBS Group moved shares of Tenet Healthcare from a “neutral” rating to a “buy” rating and raised its price target for the company from $83.00 to $111.00 in a Thursday 10 report. february. Truist Financial raised its target price on shares of Tenet Healthcare from $90.00 to $100.00 in a Thursday, April 7 research report. Finally, Jefferies Financial Group raised its price target on Tenet Healthcare from $120.00 to $125.00 and gave the company a “buy” rating in a Monday, March 7 report. Three equity research analysts gave the stock a hold rating, fourteen gave the company a buy rating and one gave the company a high buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $101.06.
Shares of Tenet Healthcare opened at $86.67 on Friday. The stock’s 50-day moving average is $85.89 and its 200-day moving average is $78.61. The company has a market capitalization of $9.31 billion, a P/E ratio of 10.29, a PEG ratio of 4.93 and a beta of 2.42. Tenet Healthcare has a 12-month low of $54.54 and a 12-month high of $92.65. The company has a quick ratio of 1.31, a current ratio of 1.38 and a debt ratio of 7.55.
Tenet Healthcare (NYSE:THC – Get Rating) last released its quarterly results on Wednesday, April 20. The company reported earnings per share (EPS) of $1.93 for the quarter, beating the consensus estimate of $1.04 by $0.89. The company posted revenue of $4.75 billion in the quarter, versus analyst estimates of $4.74 billion. Tenet Healthcare had a return on equity of 56.04% and a net margin of 4.69%. Quarterly revenue for Tenet Healthcare decreased 0.8% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $1.30. As a group, stock analysts expect Tenet Healthcare to post EPS of 6.58 for the current year.
Separately, director Richard J. Mark sold 6,000 shares of the company in a trade on Wednesday, March 9. The shares were sold at an average price of $90.47, for a total transaction of $542,820.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Additionally, Chairman Ronald A. Rittenmeyer sold 59,851 shares in a trade dated Wednesday, March 2. The shares were sold at an average price of $90.12, for a total transaction of $5,393,772.12. The disclosure of this sale can be found here. Company insiders own 1.70% of the company’s shares.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. BlackRock Inc. increased its position in shares of Tenet Healthcare by 0.8% during the fourth quarter. BlackRock Inc. now owns 12,068,110 shares of the company valued at $985,844,000 after purchasing an additional 98,668 shares during the period. Invesco Ltd. increased its stake in shares of Tenet Healthcare by 20.1% during the fourth quarter. Invesco Ltd. now owns 5,553,758 shares of the company valued at $453,686,000 after acquiring an additional 929,756 shares last quarter. Viking Global Investors LP increased its stake in Tenet Healthcare by 47.2% in the third quarter. Viking Global Investors LP now owns 3,353,856 shares of the company worth $222,830,000 after purchasing an additional 1,074,674 shares in the last quarter. State Street Corp raised its position in Tenet Healthcare by 1.2% in the fourth quarter. State Street Corp now owns 3,299,257 shares of the company valued at $269,516,000 after purchasing an additional 38,969 shares last quarter. Finally, Dimensional Fund Advisors LP increased its position in Tenet Healthcare shares by 0.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,337,562 shares of the company worth $155,317,000 after purchasing an additional 20,670 shares in the last quarter. 94.38% of the shares are held by institutional investors.
Company Profile Tenet Healthcare (Get a rating)
Tenet Healthcare Corporation operates as a diversified healthcare services company. The Company operates in three segments: Hospital and Other Operations, Ambulatory Care and Conifers. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories and pharmacies.
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