Tenet Healthcare (NYSE:THC) Rating Reiterated by Cantor Fitzgerald

Tenet Healthcare (NYSE:THC)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a report issued on Tuesday, Benzinga reports. They presently have a $112.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential downside of 17.63% from the company’s current price.

THC has been the subject of several other reports. StockNews.com upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 7th. Royal Bank of Canada upped their price target on Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Mizuho reaffirmed a “buy” rating and set a $130.00 price target (up previously from $118.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. Wolfe Research raised Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target for the company in a research report on Wednesday, March 27th. Finally, Stephens upped their price objective on Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $121.18.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $135.97 on Tuesday. 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 stock has a market cap of $13.28 billion, a PE ratio of 5.28, a price-to-earnings-growth ratio of 1.37 and a beta of 2.15. The stock has a 50-day moving average of $129.33 and a 200-day moving average of $103.82. Tenet Healthcare has a one year low of $51.04 and a one year high of $142.35.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same period in the previous year, the firm earned $1.42 EPS. Tenet Healthcare’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts expect that Tenet Healthcare will post 8.55 earnings per share for the current year.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nadja West sold 1,782 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $126.41, for a total value of $225,262.62. Following the transaction, the director now directly owns 29,680 shares of the company’s stock, valued at approximately $3,751,848.80. The disclosure for this sale can be found here. Insiders have sold 24,691 shares of company stock worth $3,117,909 in the last 90 days. Company insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Tenet Healthcare by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock valued at $839,613,000 after buying an additional 172,913 shares during the last quarter. Nordea Investment Management AB raised its holdings in Tenet Healthcare by 324.3% during the 4th quarter. Nordea Investment Management AB now owns 40,066 shares of the company’s stock worth $3,030,000 after purchasing an additional 30,623 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Tenet Healthcare by 113.0% during the 4th quarter. Hsbc Holdings PLC now owns 453,624 shares of the company’s stock worth $34,266,000 after purchasing an additional 240,611 shares during the last quarter. First Light Asset Management LLC bought a new position in Tenet Healthcare during the 4th quarter worth approximately $14,706,000. Finally, VitalStone Financial LLC bought a new position in Tenet Healthcare during the 4th quarter worth approximately $451,000. Institutional investors own 95.44% of the company’s stock.

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.