Tenet Healthcare (NYSE:THC) Price Target Lowered to $175.00 at Truist Financial

Tenet Healthcare (NYSE:THC) had its target price trimmed by Truist Financial from $190.00 to $175.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on THC. Cantor Fitzgerald raised their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. UBS Group lifted their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. KeyCorp assumed coverage on Tenet Healthcare in a report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target for the company. Finally, Barclays boosted their price objective on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.94.

Tenet Healthcare Price Performance

NYSE THC opened at $125.69 on Monday. Tenet Healthcare has a 1 year low of $75.83 and a 1 year high of $171.20. The company has a fifty day simple moving average of $143.47 and a 200 day simple moving average of $148.45. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The company has a market cap of $11.95 billion, a P/E ratio of 4.03, a P/E/G ratio of 0.61 and a beta of 2.06.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the business posted $1.44 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts predict that Tenet Healthcare will post 11.38 EPS for the current year.

Insider Transactions at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the sale, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Hedge funds have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd bought a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $28,000. ORG Wealth Partners LLC bought a new position in Tenet Healthcare in the 3rd quarter valued at $30,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Tenet Healthcare during the second quarter worth $34,000. Financial Management Professionals Inc. boosted its holdings in Tenet Healthcare by 2,222.2% in the third quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in Tenet Healthcare in the third quarter worth about $38,000. 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.