Tenet Healthcare (NYSE:THC) Sets New 52-Week High at $109.00

Tenet Healthcare Co. (NYSE:THC)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $109.00 and last traded at $108.58, with a volume of 960675 shares trading hands. The stock had previously closed at $99.15.

Wall Street Analysts Forecast Growth

THC has been the topic of several research analyst reports. TheStreet raised Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Wells Fargo & Company raised their price target on Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $104.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, April 10th. Mizuho raised their target price on shares of Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective 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 research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $100.38.

Tenet Healthcare Price Performance

The stock has a 50-day moving average price of $98.38 and a two-hundred day moving average price of $81.03. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 3.08 and a beta of 2.08. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. The business had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 earnings per share. As a group, equities research analysts forecast that Tenet Healthcare Co. will post 6.3 EPS for the current year.

Insider Transactions at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tenet Healthcare news, 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 sale, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the transaction, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,268 shares of company stock worth $4,944,810. Company insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of THC. Rise Advisors LLC purchased a new position in shares of Tenet Healthcare during the 1st quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new position in shares of Tenet Healthcare in the fourth quarter worth about $52,000. FinTrust Capital Advisors LLC grew its position 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 acquiring an additional 467 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Tenet Healthcare in the 3rd quarter valued at about $67,000. Finally, USA Financial Formulas purchased a new position in Tenet Healthcare during the third quarter worth approximately $92,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Company Profile

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.