Truist Financial Corp Buys 198 Shares of Tenet Healthcare Co. (NYSE:THC)

Truist Financial Corp boosted its position in Tenet Healthcare Co. (NYSE:THC) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,407 shares of the company’s stock after buying an additional 198 shares during the period. Truist Financial Corp’s holdings in Tenet Healthcare were worth $1,566,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare during the third quarter worth approximately $28,000. True Wealth Design LLC acquired a new position in Tenet Healthcare during the third quarter worth $38,000. Hantz Financial Services Inc. bought a new position in shares of Tenet Healthcare in the third quarter valued at $83,000. Venturi Wealth Management LLC increased its position in shares of Tenet Healthcare by 36.0% during the third quarter. Venturi Wealth Management LLC now owns 521 shares of the company’s stock worth $87,000 after acquiring an additional 138 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company’s stock worth $66,000 after acquiring an additional 487 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on THC. Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. TD Cowen assumed coverage on Tenet Healthcare in a research report on Wednesday. They issued a “buy” rating and a $175.00 price target for the company. Barclays cut their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group downgraded shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. Finally, StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Tenet Healthcare Price Performance

THC opened at $130.48 on Friday. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 4.05, a PEG ratio of 1.02 and a beta of 2.05. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The firm has a 50-day moving average price of $133.09 and a 200-day moving average price of $147.25. Tenet Healthcare Co. has a twelve month low of $88.98 and a twelve month high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Equities analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

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.