Tenet Healthcare (NYSE:THC – Free Report) had its price target increased by Cantor Fitzgerald from $94.00 to $104.00 in a report published on Friday, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.
Other equities analysts have also issued research reports about the company. StockNews.com raised Tenet Healthcare from a hold rating to a buy rating in a research report on Saturday, December 16th. Mizuho reduced their price objective on Tenet Healthcare from $94.00 to $77.00 and set a buy rating for the company in a report on Tuesday, October 31st. Truist Financial reiterated a buy rating and issued a $92.00 price objective on shares of Tenet Healthcare in a report on Monday, November 20th. UBS Group cut their price target on Tenet Healthcare from $104.00 to $94.00 and set a buy rating for the company in a research note on Thursday, November 2nd. Finally, Jefferies Financial Group cut 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. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $92.47.
Tenet Healthcare Stock Performance
Tenet Healthcare (NYSE:THC – Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported $2.68 EPS for the quarter, beating the consensus estimate of $1.58 by $1.10. The business had revenue of $5.38 billion during 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 for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 earnings per share. On average, equities analysts forecast that Tenet Healthcare will post 6.22 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Richard W. Fisher sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.33, for a total transaction of $331,650.00. Following the sale, the director now directly owns 23,227 shares of the company’s stock, valued at approximately $1,540,646.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.
Hedge Funds Weigh In On Tenet Healthcare
Several large investors have recently modified their holdings of the stock. Yousif Capital Management LLC increased its position in shares of Tenet Healthcare by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock valued at $3,236,000 after purchasing an additional 131 shares during the last quarter. Fifth Third Bancorp grew its position in Tenet Healthcare by 22.3% in the 2nd quarter. Fifth Third Bancorp now owns 763 shares of the company’s stock valued at $62,000 after acquiring an additional 139 shares during the last quarter. CWM LLC grew its position in Tenet Healthcare by 17.0% in the 2nd quarter. CWM LLC now owns 963 shares of the company’s stock valued at $78,000 after acquiring an additional 140 shares during the last quarter. SummerHaven Investment Management LLC grew its position in Tenet Healthcare by 1.7% in the 4th quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock valued at $656,000 after acquiring an additional 145 shares during the last quarter. Finally, Xponance Inc. grew its position in Tenet Healthcare by 1.2% in the 4th quarter. Xponance Inc. now owns 12,337 shares of the company’s stock valued at $932,000 after acquiring an additional 147 shares during the last quarter. Institutional investors own 93.56% of the company’s stock.
Tenet Healthcare Company Profile
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.
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