Tenet Healthcare (NYSE:THC) Given a $205.00 Price Target by Truist Financial Analysts

Tenet Healthcare (NYSE:THC - Get Free Report) has been assigned a $205.00 target price by equities research analysts at Truist Financial in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective would suggest a potential upside of 18.17% from the stock's previous close.

A number of other brokerages have also recently issued reports on THC. Robert W. Baird reaffirmed a "neutral" rating and issued a $137.00 price objective (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Royal Bank Of Canada upped their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group upped their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. UBS Group upped their price objective on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Bank of America increased their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare has an average rating of "Moderate Buy" and an average target price of $185.41.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded up $0.70 during midday trading on Wednesday, reaching $173.48. 1,387,266 shares of the stock were exchanged, compared to its average volume of 1,252,239. The company's fifty day moving average is $167.37 and its 200-day moving average is $143.40. The firm has a market cap of $16.11 billion, a PE ratio of 11.47, a PEG ratio of 1.26 and a beta of 1.64. Tenet Healthcare has a 52 week low of $109.82 and a 52 week high of $179.91. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 7.09% and a return on equity of 22.58%. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.22 EPS. On average, sell-side analysts forecast that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the transaction, the director directly owned 22,377 shares in the company, valued at $3,322,984.50. This trade represents a 18.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas W. Arnst sold 9,786 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total transaction of $1,624,476.00. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock worth $8,846,305 over the last 90 days. Corporate insiders own 0.81% of the company's stock.

Institutional Trading of Tenet Healthcare

A number of institutional investors have recently made changes to their positions in the stock. Nuveen LLC purchased a new position in shares of Tenet Healthcare in the first quarter worth approximately $218,549,000. Ameriprise Financial Inc. boosted its holdings in shares of Tenet Healthcare by 348.4% in the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock worth $263,905,000 after buying an additional 1,524,642 shares during the last quarter. Norges Bank purchased a new position in shares of Tenet Healthcare in the fourth quarter worth approximately $190,819,000. Boston Partners boosted its holdings in shares of Tenet Healthcare by 692.9% in the first quarter. Boston Partners now owns 1,162,642 shares of the company's stock worth $156,318,000 after buying an additional 1,016,010 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Tenet Healthcare by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock worth $1,021,736,000 after buying an additional 463,552 shares during 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.