Brokerages Set Tenet Healthcare Co. (NYSE:THC) PT at $121.18

Tenet Healthcare Co. (NYSE:THC - Get Free Report) has received an average rating of "Buy" from the eighteen analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $121.18.

THC has been the subject of a number of research reports. 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 report on Wednesday, May 1st. Mizuho reiterated a "buy" rating and set a $130.00 price target (up from $118.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. Barclays lifted their price objective on Tenet Healthcare from $113.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, May 2nd. StockNews.com upgraded Tenet Healthcare from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Tenet Healthcare from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday, June 28th.

Tenet Healthcare Stock Performance

THC traded up $1.73 during trading on Wednesday, reaching $135.97. The company's stock had a trading volume of 524,593 shares, compared to its average volume of 1,212,355. Tenet Healthcare has a 52-week low of $51.04 and a 52-week high of $142.35. The company's fifty day moving average price is $129.33 and its 200-day moving average price is $103.82. The company has a market capitalization of $13.28 billion, a price-to-earnings ratio of 5.28, a price-to-earnings-growth ratio of 1.37 and a beta of 2.15. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the previous year, the company earned $1.42 EPS. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Tenet Healthcare will post 8.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Thomas W. Arnst sold 8,148 shares of the business's 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Nadja West sold 1,782 shares of the company's stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $126.41, for a total transaction of $225,262.62. Following the completion of the sale, the director now directly owns 29,680 shares of the company's stock, valued at approximately $3,751,848.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas W. Arnst sold 8,148 shares of the company's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The disclosure for this sale can be found here. In the last three months, insiders sold 24,691 shares of company stock worth $3,117,909. Insiders own 0.93% of the company's stock.

Institutional Trading of Tenet Healthcare

Institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new position in Tenet Healthcare in the 1st quarter valued at about $29,000. GAMMA Investing LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $52,000. Fidelis Capital Partners LLC acquired a new stake in Tenet Healthcare during the first quarter worth about $78,000. FinTrust Capital Advisors LLC raised its stake in Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company's stock worth $68,000 after acquiring an additional 467 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in Tenet Healthcare during the third quarter worth about $67,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

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.