Mizuho Raises Tenet Healthcare (NYSE:THC) Price Target to $100.00

Tenet Healthcare (NYSE:THCFree Report) had its target price lifted by Mizuho from $90.00 to $100.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on THC. Jefferies Financial Group lowered their price target on Tenet Healthcare from $95.00 to $85.00 and set a buy rating for the company in a research note on Tuesday, November 14th. StockNews.com raised Tenet Healthcare from a hold rating to a buy rating in a research note on Saturday, December 16th. Wells Fargo & Company decreased their target price on Tenet Healthcare from $83.00 to $71.00 and set an overweight rating for the company in a research report on Friday, October 20th. TheStreet raised Tenet Healthcare from a c+ rating to a b- rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada decreased their target price on Tenet Healthcare from $87.00 to $72.00 and set an outperform rating for the company in a research report on Tuesday, October 31st. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $92.47.

Read Our Latest Research Report on Tenet Healthcare

Tenet Healthcare Price Performance

NYSE THC opened at $90.54 on Friday. 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 has a 1 year low of $49.76 and a 1 year high of $91.85. The stock’s 50-day moving average price is $79.11 and its two-hundred day moving average price is $70.70. The company has a market cap of $9.19 billion, a PE ratio of 15.86, a PEG ratio of 4.66 and a beta of 2.10.

Tenet Healthcare (NYSE:THCGet Free Report) last released its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The company had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the business posted $1.96 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts predict that Tenet Healthcare will post 6.22 EPS for the current year.

Insider Transactions at Tenet Healthcare

In other news, Director Richard W. Fisher sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.33, for a total transaction of $331,650.00. Following the completion of the transaction, the director now directly owns 23,227 shares in the company, valued at approximately $1,540,646.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors have recently modified their holdings of THC. US Bancorp DE lifted its holdings in shares of Tenet Healthcare by 14.6% during the 1st quarter. US Bancorp DE now owns 1,428 shares of the company’s stock valued at $123,000 after purchasing an additional 182 shares in the last quarter. HighTower Advisors LLC bought a new stake in Tenet Healthcare in the 1st quarter valued at approximately $219,000. Natixis Advisors L.P. bought a new stake in Tenet Healthcare in the 1st quarter valued at approximately $1,651,000. APG Asset Management N.V. bought a new stake in Tenet Healthcare in the 1st quarter valued at approximately $1,769,000. Finally, Great West Life Assurance Co. Can increased its position in shares of Tenet Healthcare by 13.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 63,273 shares of the company’s stock worth $5,604,000 after purchasing an additional 7,365 shares during the last quarter. Institutional investors own 93.56% of the company’s stock.

About Tenet Healthcare

(Get Free Report)

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Featured Stories

Analyst Recommendations for Tenet Healthcare (NYSE:THC)

Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.