Tenet Healthcare (NYSE:THC) Sets New 1-Year High at $133.91

Tenet Healthcare Co. (NYSE:THCGet Free Report) reached a new 52-week high on Wednesday . The company traded as high as $133.91 and last traded at $133.80, with a volume of 58243 shares traded. The stock had previously closed at $130.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on THC shares. Barclays upped their price objective on Tenet Healthcare from $113.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Royal Bank of Canada boosted their target price on 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 Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Truist Financial reiterated a “buy” rating and issued a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. Finally, StockNews.com upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $113.19.

View Our Latest Research Report on THC

Tenet Healthcare Stock Performance

The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.37. The firm has a fifty day moving average price of $111.18 and a two-hundred day moving average price of $91.64. The stock has a market capitalization of $13.01 billion, a PE ratio of 5.08, a P/E/G ratio of 1.35 and a beta of 2.09.

Tenet Healthcare (NYSE:THCGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts expect that Tenet Healthcare Co. will post 8.73 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard J. Mark sold 14,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the transaction, the director now owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the sale, the executive vice president now owns 8,148 shares of the company’s stock, valued at approximately $772,756.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Mark sold 14,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the sale, the director now directly owns 33,303 shares in the company, valued at approximately $3,296,330.94. The disclosure for this sale can be found here. Insiders have sold a total of 61,598 shares of company stock valued at $6,238,815 over the last quarter. 0.93% of the stock is owned by corporate insiders.

Institutional Trading of Tenet Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in shares of Tenet Healthcare during the 4th quarter valued at $52,000. Sunbelt Securities Inc. purchased a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $67,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Tenet Healthcare by 108.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after purchasing an additional 467 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter valued at $78,000. Institutional investors own 95.44% of the company’s stock.

About Tenet Healthcare

(Get Free Report)

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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