Tenet Healthcare (NYSE:THC) Receives Buy Rating from Truist Financial

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

Other equities research analysts also recently issued research reports about the stock. Stephens raised their price objective on shares of Tenet Healthcare from $95.00 to $122.00 and gave the company an equal weight rating in a research report on Wednesday. Wells Fargo & Company upped their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. Wolfe Research raised shares of Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 price objective on the stock in a report on Wednesday, March 27th. TheStreet raised Tenet Healthcare from a c+ rating to a b- rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada upped their target price on Tenet Healthcare from $97.00 to $109.00 and gave the company an outperform rating in a report on Friday, February 9th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $111.06.

Tenet Healthcare Stock Performance

Shares of THC opened at $115.94 on Wednesday. The firm has a market cap of $11.50 billion, a PE ratio of 4.50, a price-to-earnings-growth ratio of 2.55 and a beta of 2.09. The company’s 50 day simple moving average is $98.80 and its 200-day simple moving average is $81.44. The company has a current ratio of 1.44, a quick ratio of 1.42 and a debt-to-equity ratio of 2.58. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $120.03.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $1.45 by $1.77. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 EPS. As a group, equities analysts predict that Tenet Healthcare will post 8.89 EPS for the current year.

Insider Activity at Tenet Healthcare

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 completion of the sale, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now owns 29,803 shares in the company, valued at approximately $2,889,698.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value 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. Over the last 90 days, insiders have sold 51,268 shares of company stock valued at $4,944,810. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

A number of institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tenet Healthcare by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock valued at $1,325,000 after acquiring an additional 90 shares during the period. Violich Capital Management Inc. lifted its position in Tenet Healthcare by 3.2% during the 1st quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock worth $355,000 after acquiring an additional 105 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Tenet Healthcare by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock worth $77,000 after acquiring an additional 106 shares during the period. Yousif Capital Management LLC increased its stake in Tenet Healthcare by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock worth $3,236,000 after buying an additional 131 shares during the period. Finally, SummerHaven Investment Management LLC lifted its holdings in Tenet Healthcare by 1.7% in the 4th quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock worth $656,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

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.