Truist Financial Issues Positive Forecast for Tenet Healthcare (NYSE:THC) Stock Price

Tenet Healthcare (NYSE:THC) had its target price hoisted by equities researchers at Truist Financial from $190.00 to $205.00 in a note issued to investors on Wednesday, July 16th, Marketbeat.com reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 27.33% from the company’s previous close.

A number of other equities analysts have also recently issued reports on THC. Mizuho raised their target price on Tenet Healthcare from $184.00 to $194.00 and gave the stock an “outperform” rating in a report on Friday, July 11th. Stephens raised shares of Tenet Healthcare to a “strong-buy” rating in a report on Monday, June 2nd. Wall Street Zen raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Sunday, June 15th. Robert W. Baird reissued a “neutral” rating and issued a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada boosted their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $190.00.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $161.00 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. Tenet Healthcare has a 1 year low of $109.82 and a 1 year high of $185.25. The company has a market cap of $14.96 billion, a PE ratio of 10.31, a PEG ratio of 0.67 and a beta of 1.64. The company’s 50-day moving average is $167.68 and its two-hundred day moving average is $145.78.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $1.18. The company had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.31 EPS. Equities analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 9,786 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total value of $1,624,476.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard W. Fisher sold 3,077 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $165.72, for a total transaction of $509,920.44. Following the completion of the sale, the director directly owned 12,128 shares of the company’s stock, valued at $2,009,852.16. This represents a 20.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,121 shares of company stock worth $8,846,305 in the last three months. 0.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of THC. US Bancorp DE raised its position 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 worth $1,159,000 after acquiring an additional 68 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Tenet Healthcare by 2.8% in the second quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $460,000 after purchasing an additional 70 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Tenet Healthcare by 5.3% in 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 period. Signaturefd LLC grew its stake in shares of Tenet Healthcare by 11.2% in the 2nd quarter. Signaturefd LLC now owns 732 shares of the company’s stock valued at $129,000 after buying an additional 74 shares during the period. Finally, Vista Investment Partners LLC lifted its stake in shares of Tenet Healthcare by 0.3% in the second quarter. Vista Investment Partners LLC now owns 25,257 shares of the company’s stock valued at $4,445,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.