Tenet Healthcare (NYSE:THC) Price Target Raised to $190.00

Tenet Healthcare (NYSE:THC - Free Report) had its price target hoisted by Barclays from $171.00 to $190.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

THC has been the topic of several other reports. KeyCorp assumed coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They issued an "overweight" rating and a $200.00 price objective on the stock. Raymond James lifted their price objective on Tenet Healthcare from $130.00 to $175.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 25th. Citigroup lifted their target price on Tenet Healthcare from $139.00 to $171.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. The Goldman Sachs Group raised their price objective on shares of Tenet Healthcare from $173.00 to $196.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company increased their target price on shares of Tenet Healthcare from $195.00 to $205.00 and gave the stock an "overweight" rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $165.35.

Tenet Healthcare Trading Down 2.0 %

NYSE:THC traded down $3.36 during trading hours on Friday, hitting $165.16. The company had a trading volume of 1,128,110 shares, compared to its average volume of 1,386,951. The company has a 50-day moving average of $159.43 and a 200 day moving average of $144.51. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The company has a market cap of $15.71 billion, a P/E ratio of 5.29, a P/E/G ratio of 0.72 and a beta of 2.15. Tenet Healthcare has a 1 year low of $52.08 and a 1 year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same quarter in the prior year, the company posted $1.44 EPS. The business's revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts expect that Tenet Healthcare will post 11.38 earnings per share for the current year.

Tenet Healthcare declared that its Board of Directors has initiated a stock repurchase program on Wednesday, July 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 10.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Insider Transactions at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the company's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, the executive vice president now directly owns 15,566 shares of the company's stock, valued at $2,427,362.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the sale, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the transaction, the insider now owns 6,324 shares in the company, valued at approximately $1,024,867.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,203 shares of company stock worth $17,451,957. Corporate insiders own 0.93% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in Tenet Healthcare in the 2nd quarter valued at $28,000. Plato Investment Management Ltd purchased a new position in Tenet Healthcare during the third quarter worth about $28,000. ORG Wealth Partners LLC purchased a new stake in Tenet Healthcare in the 3rd quarter valued at approximately $30,000. ORG Partners LLC purchased a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $31,000. Finally, Blue Trust Inc. lifted its holdings in shares of Tenet Healthcare by 93.0% in the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company's stock valued at $33,000 after buying an additional 120 shares during the period. 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.