Tenet Healthcare (NYSE:THC)’s share price gapped up before the market opened on Friday . The stock had previously closed at $22.43, but opened at $22.95. Tenet Healthcare shares last traded at $23.71, with a volume of 2101216 shares traded.
A number of equities analysts have commented on the stock. TheStreet raised shares of Tenet Healthcare from a “d+” rating to a “c” rating in a research note on Tuesday, March 13th. Zacks Investment Research raised shares of Tenet Healthcare from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Mizuho reaffirmed a “buy” rating and set a $29.00 target price on shares of Tenet Healthcare in a research note on Thursday, March 22nd. ValuEngine raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, JPMorgan Chase lifted their target price on shares of Tenet Healthcare from $15.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, March 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $21.44.
The stock has a market cap of $2,320.43, a price-to-earnings ratio of 29.27, a PEG ratio of 1.98 and a beta of 0.80. The company has a debt-to-equity ratio of 27.44, a quick ratio of 1.22 and a current ratio of 1.29.
In related news, Director George Fredrick Smitherman purchased 125,000 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was acquired at an average cost of $38.50 per share, for a total transaction of $4,812,500.00. Also, Director Ashish Dave sold 75,000 shares of Tenet Healthcare stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $1.40, for a total transaction of $105,000.00. Over the last quarter, insiders have sold 129,600 shares of company stock valued at $199,146. Company insiders own 1.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in THC. Nationwide Fund Advisors grew its holdings in shares of Tenet Healthcare by 5.9% in the third quarter. Nationwide Fund Advisors now owns 194,199 shares of the company’s stock valued at $3,191,000 after purchasing an additional 10,854 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Tenet Healthcare by 182.6% in the third quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock valued at $173,000 after purchasing an additional 6,800 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Tenet Healthcare by 15.9% in the third quarter. Legal & General Group Plc now owns 336,284 shares of the company’s stock valued at $5,521,000 after purchasing an additional 46,257 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Tenet Healthcare in the third quarter valued at approximately $370,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Tenet Healthcare by 18.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 534,579 shares of the company’s stock valued at $8,784,000 after purchasing an additional 82,953 shares in the last quarter.
COPYRIGHT VIOLATION NOTICE: “Tenet Healthcare (THC) Shares Gap Up to $22.95” was first reported by Week Herald and is the property of of Week Herald. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://weekherald.com/2018/04/15/tenet-healthcare-thc-shares-gap-up-to-22-95.html.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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.