Truist Financial Raises Tenet Healthcare (NYSE:THC) Price Target to $190.00

Tenet Healthcare (NYSE:THC) had its target price increased by stock analysts at Truist Financial from $175.00 to $190.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 20.17% from the company’s previous close.

A number of other equities analysts also recently issued reports on THC. Guggenheim initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price target for the company. UBS Group increased their target price on Tenet Healthcare from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Robert W. Baird reaffirmed a “neutral” rating and issued a $137.00 price target (down from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. Finally, Morgan Stanley upped their target price on shares of Tenet Healthcare from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.63.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $158.11 on Monday. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The firm has a market cap of $14.69 billion, a P/E ratio of 4.91, a P/E/G ratio of 1.02 and a beta of 1.63. Tenet Healthcare has a 1-year low of $109.82 and a 1-year high of $171.20. The firm has a 50-day moving average of $130.60 and a 200-day moving average of $136.09.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $3.22 EPS. Sell-side analysts expect that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 5,001 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the transaction, the director now owns 22,377 shares in the company, valued at $3,322,984.50. The trade was a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

Large investors have recently bought and sold shares of the business. US Bancorp DE raised its holdings in shares of Tenet Healthcare by 0.8% during the first quarter. US Bancorp DE now owns 8,620 shares of the company’s stock valued at $1,159,000 after purchasing an additional 68 shares during the last quarter. Lindbrook Capital LLC raised its stake in Tenet Healthcare by 5.3% during the 1st quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock valued at $192,000 after buying an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company’s stock valued at $119,000 after buying an additional 80 shares during the period. Covestor Ltd boosted its stake in shares of Tenet Healthcare by 10.4% in the 1st quarter. Covestor Ltd now owns 873 shares of the company’s stock worth $117,000 after buying an additional 82 shares during the last quarter. Finally, GeoWealth Management LLC increased its position in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after acquiring an additional 84 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

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.