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

Wall Street Zen upgraded shares of Tenet Healthcare (NYSE:THC) from a hold rating to a strong-buy rating in a research note issued to investors on Saturday.

Several other research analysts have also recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating on the stock in a report on Friday. Raymond James Financial restated an “outperform” rating and set a $200.00 target price (up previously from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. Baird R W lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Morgan Stanley increased their target price on shares of Tenet Healthcare from $175.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company upgraded shares of Tenet Healthcare from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $150.00 to $195.00 in a research report on Thursday, May 29th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.00.

Tenet Healthcare Stock Up 2.3%

Tenet Healthcare stock opened at $156.51 on Friday. The stock has a market cap of $14.54 billion, a P/E ratio of 10.02, a P/E/G ratio of 0.65 and a beta of 1.64. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. Tenet Healthcare has a twelve month low of $109.82 and a twelve month high of $185.25. The company’s 50-day moving average price is $167.96 and its two-hundred day moving average price is $145.60.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating the consensus estimate of $2.84 by $1.18. The firm had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 EPS. As a group, analysts expect that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 7,738 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the sale, the executive vice president owned 20,110 shares in the company, valued at $3,479,030. This trade represents a 27.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas W. Arnst sold 9,786 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total transaction of $1,624,476.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,121 shares of company stock valued at $8,846,305. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Tenet Healthcare

A number of hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake in shares of Tenet Healthcare by 0.8% during the first quarter. US Bancorp DE now owns 8,620 shares of the company’s stock valued at $1,159,000 after acquiring an additional 68 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Tenet Healthcare by 2.8% during the second quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock valued at $460,000 after acquiring an additional 70 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Tenet Healthcare by 5.3% during the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock valued at $192,000 after acquiring an additional 72 shares during the last quarter. Signaturefd LLC raised its stake in shares of Tenet Healthcare by 11.2% during the second quarter. Signaturefd LLC now owns 732 shares of the company’s stock valued at $129,000 after acquiring an additional 74 shares during the last quarter. Finally, Vista Investment Partners LLC raised its stake in shares of Tenet Healthcare by 0.3% during the second quarter. Vista Investment Partners LLC now owns 25,257 shares of the company’s stock valued at $4,445,000 after acquiring an additional 76 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.