Tenet Healthcare (NYSE:THC) Research Coverage Started at Robert W. Baird

Robert W. Baird initiated coverage on shares of Tenet Healthcare (NYSE:THCFree Report) in a research note issued to investors on Thursday morning, MarketBeat reports. The firm issued an outperform rating and a $153.00 target price on the stock.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada raised their target price on shares of Tenet Healthcare from $109.00 to $136.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. TheStreet upgraded shares of Tenet Healthcare from a c+ rating to a b- rating in a research note on Tuesday, February 6th. Stephens raised their price target on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an equal weight rating in a report on Wednesday, May 1st. Wolfe Research raised shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price target for the company in a report on Wednesday, March 27th. Finally, Mizuho reissued a buy rating and set a $130.00 target price (up previously from $118.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $120.41.

Read Our Latest Analysis on Tenet Healthcare

Tenet Healthcare Stock Up 1.5 %

Shares of NYSE THC opened at $135.22 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $135.75. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 5.25, a P/E/G ratio of 1.39 and a beta of 2.09. The firm’s 50-day moving average price is $113.03 and its 200-day moving average price is $93.00.

Tenet Healthcare (NYSE:THCGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The company 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 for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 EPS. On average, equities research analysts anticipate that Tenet Healthcare will post 8.73 EPS for the current fiscal year.

Insider Activity at Tenet Healthcare

In other news, Director Nadja West sold 1,782 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $126.41, for a total value of $225,262.62. Following the completion of the sale, the director now owns 29,680 shares of the company’s stock, valued at approximately $3,751,848.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Nadja West sold 1,782 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $126.41, for a total value of $225,262.62. Following the transaction, the director now directly owns 29,680 shares in the company, valued at approximately $3,751,848.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the transaction, the executive vice president now owns 29,803 shares in the company, valued at $2,889,698.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,598 shares of company stock valued at $4,626,535. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Tenet Healthcare by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after buying an additional 172,913 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Tenet Healthcare by 11.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock worth $831,947,000 after buying an additional 790,684 shares in the last quarter. Glenview Capital Management LLC lifted its holdings in Tenet Healthcare by 12.8% during the 4th quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock worth $585,087,000 after buying an additional 877,180 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tenet Healthcare by 16.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company’s stock worth $114,629,000 after buying an additional 212,185 shares in the last quarter. Finally, Greenlight Capital Inc. lifted its holdings in Tenet Healthcare by 44.3% during the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock worth $99,448,000 after buying an additional 404,190 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

About Tenet Healthcare

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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.

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Analyst Recommendations for Tenet Healthcare (NYSE:THC)

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