Cantor Fitzgerald Reaffirms “Overweight” Rating for Tenet Healthcare (NYSE:THC)

by · The Cerbat Gem

Cantor Fitzgerald reaffirmed their overweight rating on shares of Tenet Healthcare (NYSE:THC – Free Report) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $104.00 target price on the stock.

A number of other brokerages also recently issued reports on THC. TheStreet upgraded shares of Tenet Healthcare from a c+ rating to a b- rating in a research report on Tuesday, February 6th. StockNews.com upgraded shares of Tenet Healthcare from a hold rating to a buy rating in a research report on Saturday, December 16th. Barclays started coverage on shares of Tenet Healthcare in a research report on Wednesday, March 6th. They set an overweight rating and a $113.00 target price on the stock. Wolfe Research upgraded shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 target price on the stock in a research report on Wednesday, March 27th. Finally, Mizuho boosted their target price on shares of Tenet Healthcare from $90.00 to $100.00 and gave the company a buy rating in a research report on Friday, February 9th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare has an average rating of Buy and an average price target of $100.38.

Get Our Latest Stock Report on Tenet Healthcare

Tenet Healthcare Trading Down 1.4 %

THC opened at $100.44 on Wednesday. Tenet Healthcare has a fifty-two week low of $51.04 and a fifty-two week high of $107.80. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 3.19 and a beta of 2.08. The company’s 50 day moving average price is $96.79 and its two-hundred day moving average price is $78.26.

Tenet Healthcare (NYSE:THC – Get Free Report) last posted its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 EPS. As a group, research analysts predict that Tenet Healthcare will post 6.09 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other news, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the sale, the director now owns 33,303 shares in the company, valued at approximately $3,296,330.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the sale, the executive vice president now owns 29,803 shares in the company, valued at approximately $2,889,698.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard J. Mark sold 14,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the transaction, the director now owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock worth $4,944,810 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in Tenet Healthcare during the first quarter valued at about $29,000. Parkside Financial Bank & Trust grew its position in Tenet Healthcare by 1,063.9% during the first quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock valued at $36,000 after buying an additional 383 shares during the period. Lazard Asset Management LLC bought a new position in Tenet Healthcare during the first quarter valued at about $36,000. Belpointe Asset Management LLC grew its position in Tenet Healthcare by 94.1% during the first quarter. Belpointe Asset Management LLC now owns 588 shares of the company’s stock valued at $35,000 after buying an additional 285 shares during the period. Finally, GAMMA Investing LLC bought a new position in Tenet Healthcare during the fourth quarter worth about $52,000. Institutional investors own 95.44% of the company’s stock.

About Tenet Healthcare

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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.

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