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

Tenet Healthcare (NYSE:THC) had its target price lowered by Truist Financial from $190.00 to $175.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 42.68% from the stock’s previous close.

THC has been the subject of a number of other research reports. Wells Fargo & Company cut shares of Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $205.00 to $150.00 in a research note on Monday, November 25th. Barclays lifted their price target on shares of Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. StockNews.com cut shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. Raymond James cut Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price target on the stock. in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $175.00 price objective on shares of Tenet Healthcare in a report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and an average target price of $165.94.

Tenet Healthcare Stock Down 2.1 %

Tenet Healthcare stock opened at $122.65 on Monday. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. The firm has a market cap of $11.66 billion, a P/E ratio of 3.93, a P/E/G ratio of 0.61 and a beta of 2.06. Tenet Healthcare has a twelve month low of $73.21 and a twelve month high of $171.20. The business has a fifty day moving average of $143.74 and a two-hundred day moving average of $148.52.

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

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd acquired a new position in shares of Tenet Healthcare in the 3rd quarter valued at $28,000. ORG Wealth Partners LLC acquired a new position in shares of Tenet Healthcare in the third quarter worth about $30,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Tenet Healthcare in the 2nd quarter worth approximately $34,000. Financial Management Professionals Inc. raised its stake in Tenet Healthcare by 2,222.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 209 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Tenet Healthcare in the third quarter worth $38,000. Institutional investors 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.