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

Tenet Healthcare (NYSE:THC - Free Report) had its price target hoisted by Truist Financial from $175.00 to $190.00 in a research report released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities analysts have also commented on THC. The Goldman Sachs Group increased their price objective on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Robert W. Baird reiterated a "neutral" rating and set a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Barclays increased their price objective on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. UBS Group upped their price target on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and an average price target of $174.94.

Tenet Healthcare Stock Performance

Shares of NYSE:THC traded up $1.01 during trading on Monday, reaching $160.58. 418,161 shares of the stock were exchanged, compared to its average volume of 1,532,329. 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 $14.92 billion, a PE ratio of 4.98, a PEG ratio of 1.02 and a beta of 1.63. Tenet Healthcare has a 12 month low of $109.82 and a 12 month high of $171.20. The stock has a 50-day moving average price of $131.24 and a 200-day moving average price of $136.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.22 earnings per share. Research analysts expect that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Activity

In other news, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the transaction, the director now owns 22,377 shares in the company, valued at approximately $3,322,984.50. This represents a 18.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.81% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in Tenet Healthcare in the fourth quarter valued at $343,000. Swedbank AB lifted its stake in shares of Tenet Healthcare by 100.0% during the fourth quarter. Swedbank AB now owns 40,000 shares of the company's stock valued at $5,049,000 after buying an additional 20,000 shares during the period. Signet Financial Management LLC acquired a new stake in Tenet Healthcare in the 4th quarter worth about $1,526,000. China Universal Asset Management Co. Ltd. acquired a new position in Tenet Healthcare during the fourth quarter worth approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Tenet Healthcare during the fourth quarter worth about $5,892,000. 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.