Tenet Healthcare (NYSE:THC) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Tenet Healthcare (NYSE:THC) from a buy rating to a strong-buy rating in a report released on Thursday morning.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a buy rating in a research report on Friday, April 12th. Mizuho reissued a buy rating and set a $130.00 target price (up previously from $118.00) on shares of Tenet Healthcare in a research report on Wednesday. Royal Bank of Canada upped their price target on Tenet Healthcare from $109.00 to $136.00 and gave the company an outperform rating in a report on Wednesday. Cantor Fitzgerald reissued an overweight rating and set a $104.00 price objective on shares of Tenet Healthcare in a report on Wednesday, April 10th. Finally, UBS Group lifted their price target on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a buy rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tenet Healthcare presently has an average rating of Buy and a consensus target price of $113.19.

Tenet Healthcare Stock Up 1.1 %

THC stock traded up $1.34 during midday trading on Thursday, hitting $120.28. The company’s stock had a trading volume of 1,695,112 shares, compared to its average volume of 1,350,059. Tenet Healthcare has a 52-week low of $51.04 and a 52-week high of $121.72. The firm has a 50-day simple moving average of $100.37 and a 200-day simple moving average of $82.40. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $11.75 billion, a P/E ratio of 4.67, a PEG ratio of 1.20 and a beta of 2.09.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, topping the consensus estimate of $1.45 by $1.77. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. Tenet Healthcare’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 EPS. As a group, equities analysts forecast that Tenet Healthcare will post 8.73 EPS for the current year.

Insider Activity

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders have sold 59,416 shares of company stock worth $5,890,793 over the last ninety days. 0.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Tenet Healthcare by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after purchasing an additional 172,913 shares during the period. Glenview Capital Management LLC boosted its position in shares of Tenet Healthcare by 12.8% in the fourth 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 during the period. Dimensional Fund Advisors LP raised its holdings in shares of Tenet Healthcare by 16.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,516,792 shares of the company’s stock valued at $114,629,000 after buying an additional 212,185 shares during the period. Greenlight Capital Inc. boosted its holdings in Tenet Healthcare by 44.3% in the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock worth $99,448,000 after acquiring an additional 404,190 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Tenet Healthcare by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,043,214 shares of the company’s stock valued at $78,836,000 after buying an additional 16,490 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

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.