Tenet Healthcare’s (THC) Buy Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of Tenet Healthcare (NYSE:THC) in a report released on Wednesday, Benzinga reports. The firm currently has a $130.00 target price on the stock, up from their previous target price of $120.00.

Several other research analysts also recently issued reports on the company. Barclays started coverage on Tenet Healthcare in a research report on Wednesday, March 6th. They set an overweight rating and a $113.00 price objective for the company. Stephens increased their price objective on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an equal weight rating in a report on Wednesday. TheStreet raised shares of Tenet Healthcare from a c+ rating to a b- rating in a research report on Tuesday, February 6th. Wells Fargo & Company raised their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. Finally, Wolfe Research raised shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price objective for the company in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $113.19.

Tenet Healthcare Stock Performance

Shares of THC opened at $120.28 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The company has a 50-day simple moving average of $99.82 and a 200-day simple moving average of $81.94. Tenet Healthcare has a 52-week low of $51.04 and a 52-week high of $121.72. The company has a market capitalization of $11.75 billion, a PE ratio of 4.67, a P/E/G ratio of 2.63 and a beta of 2.09.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $1.77. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. Tenet Healthcare’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 earnings per share. Equities research analysts predict that Tenet Healthcare will post 8.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the sale, the executive vice president now directly owns 8,148 shares in the company, valued at approximately $772,756.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the sale, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders have sold a total of 59,416 shares of company stock valued at $5,890,793 over the last quarter. Corporate insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Large investors have recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new stake in shares of Tenet Healthcare in the first quarter worth about $29,000. GAMMA Investing LLC acquired a new position in Tenet Healthcare during the fourth quarter valued at approximately $52,000. Sunbelt Securities Inc. acquired a new stake in shares of Tenet Healthcare in the third quarter worth $67,000. FinTrust Capital Advisors LLC grew its stake in Tenet Healthcare by 108.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after buying an additional 467 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Tenet Healthcare in the 1st quarter worth $78,000. 95.44% of the stock is owned by 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.