Tenet Healthcare (NYSE:THC) Stock Rating Upgraded by Wall Street Zen

Tenet Healthcare (NYSE:THC) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other research firms have also recently commented on THC. Truist Financial reiterated a “buy” rating and issued a $240.00 price objective (up from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. TD Cowen reiterated a “buy” rating on shares of Tenet Healthcare in a report on Wednesday, January 7th. Mizuho boosted their price objective on shares of Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, October 17th. JPMorgan Chase & Co. increased their target price on shares of Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Finally, KeyCorp boosted their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $233.81.

Tenet Healthcare Trading Down 0.0%

Shares of THC stock opened at $189.48 on Friday. Tenet Healthcare has a twelve month low of $109.82 and a twelve month high of $222.82. The stock has a market cap of $16.65 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.81 and a beta of 1.41. The company’s 50-day moving average price is $200.90 and its 200-day moving average price is $191.89. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.27.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.37. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. Tenet Healthcare’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.93 EPS. As a group, equities analysts predict that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Nadja West sold 2,178 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the sale, the director owned 28,480 shares of the company’s stock, valued at approximately $5,623,945.60. This represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total value of $2,732,475.42. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 43,000 shares of company stock worth $8,725,996 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in THC. AlphaQuest LLC raised its holdings in shares of Tenet Healthcare by 230.8% in the 2nd quarter. AlphaQuest LLC now owns 1,763 shares of the company’s stock valued at $310,000 after purchasing an additional 1,230 shares in the last quarter. 111 Capital purchased a new position in Tenet Healthcare in the second quarter valued at $244,000. Cerity Partners LLC lifted its holdings in Tenet Healthcare by 10.4% during the 2nd quarter. Cerity Partners LLC now owns 120,623 shares of the company’s stock worth $21,230,000 after buying an additional 11,395 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Tenet Healthcare during the 3rd quarter worth about $1,648,000. Finally, Goldentree Asset Management LP acquired a new stake in shares of Tenet Healthcare during the 2nd quarter worth about $31,471,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.