Tenet Healthcare (NYSE:THC) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Tenet Healthcare (NYSE:THC - Get Free Report) had its target price raised by stock analysts at Wells Fargo & Company from $195.00 to $205.00 in a report released on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 27.84% from the company's current price.

Several other equities research analysts have also recently issued reports on the company. Citigroup lifted their target price on Tenet Healthcare from $139.00 to $171.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. Raymond James upped their price target on shares of Tenet Healthcare from $130.00 to $175.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 25th. KeyCorp began coverage on shares of Tenet Healthcare in a report on Friday, October 11th. They issued an "overweight" rating and a $200.00 price target for the company. The Goldman Sachs Group lifted their target price on Tenet Healthcare from $173.00 to $196.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, UBS Group boosted their price objective on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare has a consensus rating of "Buy" and an average price target of $164.24.

Tenet Healthcare Stock Performance

Shares of NYSE:THC traded down $6.51 during midday trading on Wednesday, hitting $160.36. The company had a trading volume of 2,418,262 shares, compared to its average volume of 1,332,013. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The company has a fifty day moving average of $159.42 and a two-hundred day moving average of $143.73. The company has a market cap of $15.25 billion, a price-to-earnings ratio of 5.14, a PEG ratio of 0.73 and a beta of 2.15. Tenet Healthcare has a 12-month low of $52.08 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The firm had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same period in the prior year, the company posted $1.44 earnings per share. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that Tenet Healthcare will post 11.38 EPS for the current fiscal year.

Tenet Healthcare announced that its board has authorized a stock repurchase plan on Wednesday, July 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other 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 transaction of $623,760.00. Following the completion of the transaction, the executive vice president now directly owns 15,566 shares of the company's stock, valued at approximately $2,427,362.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business's stock in a transaction that occurred on 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 owns 15,566 shares in the company, valued at approximately $2,427,362.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saumya Sutaria sold 86,227 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the transaction, the chief executive officer now directly owns 13,773 shares in the company, valued at $2,126,688.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,203 shares of company stock worth $17,451,957 in the last quarter. 0.93% of the stock is owned by company insiders.

Institutional Trading of Tenet Healthcare

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in Tenet Healthcare by 113.5% during the first quarter. BNP Paribas Financial Markets now owns 54,878 shares of the company's stock worth $5,768,000 after buying an additional 29,172 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Tenet Healthcare in the first quarter valued at approximately $410,000. Legacy Capital Group California Inc. acquired a new position in shares of Tenet Healthcare in the third quarter worth $1,055,000. Diversified Trust Co purchased a new stake in shares of Tenet Healthcare during the second quarter worth about $558,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Tenet Healthcare during the first quarter valued at approximately $537,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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.