Tenet Healthcare (NYSE:THC) Given New $180.00 Price Target at Truist Financial

Tenet Healthcare (NYSE:THC) had its target price upped by Truist Financial from $170.00 to $180.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

THC has been the topic of a number of other research reports. Raymond James upped their price target on Tenet Healthcare from $130.00 to $175.00 and gave the stock a strong-buy rating in a report on Thursday, July 25th. Wells Fargo & Company upped their price target on Tenet Healthcare from $145.00 to $175.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. Citigroup upped their price target on Tenet Healthcare from $139.00 to $171.00 and gave the stock a buy rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on Tenet Healthcare from $150.00 to $155.00 and gave the stock a buy rating in a report on Friday, June 28th. Finally, Barclays increased their target price on Tenet Healthcare from $156.00 to $171.00 and gave the company an overweight rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $156.06.

Tenet Healthcare Stock Down 0.3 %

THC opened at $155.29 on Monday. The business has a 50 day moving average price of $158.78 and a two-hundred day moving average price of $137.31. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53. The company has a market cap of $15.17 billion, a PE ratio of 6.03, a P/E/G ratio of 0.78 and a beta of 2.14. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC) last released its earnings results on Wednesday, July 24th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.42. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $4.98 billion. As a group, research analysts anticipate that Tenet Healthcare will post 10.73 EPS for the current year.

Tenet Healthcare declared that its Board of Directors has authorized a stock repurchase program on Wednesday, July 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Meghan Fitzgerald sold 20,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total value of $2,926,800.00. Following the completion of the sale, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Meghan Fitzgerald sold 20,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total value of $2,926,800.00. Following the completion of the sale, the director now directly owns 15,269 shares in the company, valued at approximately $2,234,465.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 2,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the sale, the director now owns 14,227 shares of the company’s stock, valued at approximately $2,328,533.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,203 shares of company stock valued at $19,754,997. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of THC. Price T Rowe Associates Inc. MD increased its holdings in Tenet Healthcare by 11.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,915,000 shares of the company’s stock worth $831,947,000 after purchasing an additional 790,684 shares during the last quarter. 8 Knots Management LLC increased its holdings in Tenet Healthcare by 74.5% during the 1st quarter. 8 Knots Management LLC now owns 1,025,730 shares of the company’s stock worth $107,814,000 after purchasing an additional 438,033 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Tenet Healthcare by 7,223.1% during the 2nd quarter. Acadian Asset Management LLC now owns 326,244 shares of the company’s stock worth $43,385,000 after purchasing an additional 321,789 shares during the last quarter. Farallon Capital Management LLC increased its holdings in shares of Tenet Healthcare by 70.1% in the 1st quarter. Farallon Capital Management LLC now owns 637,442 shares of the company’s stock valued at $67,002,000 after acquiring an additional 262,600 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. increased its holdings in shares of Tenet Healthcare by 335.8% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 278,700 shares of the company’s stock valued at $29,294,000 after acquiring an additional 214,750 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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.