Tenet Healthcare (NYSE:THC) Reaches New 52-Week High at $121.73

Shares of Tenet Healthcare Co. (NYSE:THC) hit a new 52-week high on Monday . The company traded as high as $121.73 and last traded at $120.43, with a volume of 226604 shares trading hands. The stock had previously closed at $120.28.

Analyst Ratings Changes

A number of equities analysts recently issued reports on THC shares. TheStreet upgraded Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Barclays upped their price objective on shares of Tenet Healthcare from $113.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Mizuho reaffirmed a “buy” rating and issued a $130.00 price target (up previously from $118.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. Royal Bank of Canada boosted their price objective on Tenet Healthcare from $109.00 to $136.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Tenet Healthcare has an average rating of “Buy” and a consensus price target of $113.19.

Tenet Healthcare Stock Performance

The company has a market cap of $12.12 billion, a price-to-earnings ratio of 4.82, a PEG ratio of 1.22 and a beta of 2.09. 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 50 day simple moving average of $101.66 and a 200-day simple moving average of $83.73.

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

Insider Activity

In other news, EVP Thomas W. Arnst sold 17,000 shares of the company’s 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 $772,756.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were 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 $772,756.32. 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 company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,416 shares of company stock valued at $5,890,793. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC acquired a new stake in Tenet Healthcare during the 1st quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in Tenet Healthcare during the 4th quarter worth $52,000. Fidelis Capital Partners LLC acquired a new stake in shares of Tenet Healthcare in the 1st quarter worth $78,000. FinTrust Capital Advisors LLC increased its stake in shares of Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after acquiring an additional 467 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in Tenet Healthcare during the third quarter worth about $67,000. 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.