Tenet Healthcare (NYSE:THC) Price Target Cut to $185.00 by Analysts at KeyCorp

Tenet Healthcare (NYSE:THC) had its price objective trimmed by KeyCorp from $200.00 to $185.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

THC has been the topic of several other reports. Barclays boosted their price target on Tenet Healthcare from $171.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Royal Bank of Canada lifted their price target on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial reduced their target price on Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Monday. The Goldman Sachs Group lowered shares of Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $196.00 to $140.00 in a research note on Monday, December 16th. Finally, Raymond James lowered Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 target price for the company. in a report on Friday, November 22nd. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.00.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $128.95 on Tuesday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. The stock has a market capitalization of $12.26 billion, a P/E ratio of 4.13, a P/E/G ratio of 0.61 and a beta of 2.06. The firm’s 50-day moving average is $142.79 and its two-hundred day moving average is $148.42. Tenet Healthcare has a 12-month low of $75.83 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating 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 return on equity of 24.05% and a net margin of 14.91%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 earnings per share. Equities analysts predict that Tenet Healthcare will post 11.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

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