Tenet Healthcare (NYSE:THC) Earns “Overweight” Rating from Cantor Fitzgerald

Tenet Healthcare (NYSE:THC)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports. They currently have a $112.00 target price on the stock. Cantor Fitzgerald’s price target indicates a potential downside of 16.29% from the company’s previous close.

Several other research analysts have also commented on THC. Mizuho restated a “buy” rating and set a $130.00 price target (up previously from $118.00) on shares of Tenet Healthcare in a research note on Wednesday, May 1st. UBS Group increased their price target on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays upped their price objective on shares of Tenet Healthcare from $113.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com raised shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. Finally, Baird R W raised shares of Tenet Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $121.18.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded up $0.50 during trading on Tuesday, reaching $133.80. The company had a trading volume of 124,676 shares, compared to its average volume of 1,214,316. Tenet Healthcare has a twelve month low of $51.04 and a twelve month high of $142.35. The firm has a market capitalization of $13.07 billion, a PE ratio of 5.19, a price-to-earnings-growth ratio of 1.37 and a beta of 2.15. The firm’s fifty day moving average is $127.85 and its 200 day moving average is $103.18. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.37 and a current ratio of 1.44.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. On average, equities analysts forecast that Tenet Healthcare will post 8.55 EPS for the current year.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tenet Healthcare news, Director Christopher S. Lynch sold 10,861 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the completion of the transaction, the director now owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. Insiders sold a total of 24,691 shares of company stock valued at $3,117,909 over the last ninety days. 0.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in Tenet Healthcare during the first quarter worth about $29,000. GAMMA Investing LLC bought a new position in shares of Tenet Healthcare during the 4th quarter worth approximately $52,000. Sunbelt Securities Inc. bought a new position in shares of Tenet Healthcare during the 3rd quarter worth approximately $67,000. FinTrust Capital Advisors LLC boosted its holdings in shares of Tenet Healthcare by 108.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after buying an additional 467 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $78,000. Institutional investors and hedge funds 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.