Tenet Healthcare (NYSE:THC) Shares Gap Up - What's Next?

Tenet Healthcare Co. (NYSE:THC - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $120.44, but opened at $124.45. Tenet Healthcare shares last traded at $123.30, with a volume of 169,185 shares.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. Robert W. Baird reiterated a "neutral" rating and issued a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. KeyCorp lowered their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley initiated coverage on shares of Tenet Healthcare in a report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price target for the company. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $165.44.

Tenet Healthcare Trading Up 3.8 %

The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 3.55, a P/E/G ratio of 1.02 and a beta of 1.77. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The company's 50 day simple moving average is $127.57 and its two-hundred day simple moving average is $137.69.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, research analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares in the company, valued at $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.93% of the company's stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors have recently made changes to their positions in THC. New Wave Wealth Advisors LLC purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth $343,000. Swedbank AB lifted its stake in Tenet Healthcare by 100.0% during the fourth quarter. Swedbank AB now owns 40,000 shares of the company's stock worth $5,049,000 after purchasing an additional 20,000 shares during the last quarter. Signet Financial Management LLC purchased a new position in Tenet Healthcare in the fourth quarter valued at approximately $1,526,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $5,892,000. 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.