Tenet Healthcare (NYSE:THC) Given New $217.00 Price Target at UBS Group

Tenet Healthcare (NYSE:THC) had its price target increased by stock analysts at UBS Group from $197.00 to $217.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 39.95% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Truist Financial boosted their price target on Tenet Healthcare from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their price target on Tenet Healthcare from $175.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group boosted their price target on Tenet Healthcare from $156.00 to $173.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Barclays upped their target price on Tenet Healthcare from $156.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Citigroup upped their target price on Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $163.65.

Tenet Healthcare Stock Performance

THC opened at $155.06 on Wednesday. The business has a fifty day simple moving average of $159.55 and a 200 day simple moving average of $141.69. The company has a market capitalization of $14.86 billion, a PE ratio of 5.69, a price-to-earnings-growth ratio of 0.71 and a beta of 2.14. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $171.20. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.45 and a quick ratio of 1.38.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.60. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 EPS. Research analysts expect that Tenet Healthcare will post 10.72 EPS for the current year.

Tenet Healthcare announced that its board has approved a share repurchase plan on Wednesday, July 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 86,227 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the sale, the chief executive officer now owns 13,773 shares in the company, valued at $2,126,688.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Saumya Sutaria sold 86,227 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the sale, the chief executive officer now owns 13,773 shares in the company, valued at $2,126,688.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Scott Ramsey sold 11,599 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $162.06, for a total value of $1,879,733.94. Following the sale, the insider now owns 6,324 shares in the company, valued at approximately $1,024,867.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,203 shares of company stock worth $19,754,997. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Tenet Healthcare in the second quarter worth approximately $28,000. ORG Wealth Partners LLC bought a new position in Tenet Healthcare in the third quarter worth approximately $30,000. ORG Partners LLC bought a new position in Tenet Healthcare in the second quarter worth approximately $31,000. Blue Trust Inc. raised its stake in shares of Tenet Healthcare by 93.0% in the second quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after purchasing an additional 120 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Tenet Healthcare in the second quarter worth approximately $34,000. Institutional investors 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.