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

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

Other equities analysts have also recently issued reports about the stock. Truist Financial reduced their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group lowered Tenet Healthcare from a “buy” rating to a “neutral” rating and cut their target price for the company from $196.00 to $140.00 in a research note on Monday, December 16th. Barclays upped their price target on Tenet Healthcare from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. UBS Group increased their target price on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their target price on Tenet Healthcare from $174.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $165.00.

Tenet Healthcare Stock Performance

NYSE:THC opened at $128.95 on Tuesday. The firm has a 50 day moving average of $142.79 and a 200-day moving average of $148.42. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. Tenet Healthcare has a 1 year low of $75.83 and a 1 year high of $171.20. The stock has a market capitalization of $12.26 billion, a P/E ratio of 4.13, a price-to-earnings-growth ratio of 0.61 and a beta of 2.06.

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

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors have recently modified their holdings of the business. Legacy Capital Group California Inc. bought a new position in shares of Tenet Healthcare during the third quarter worth approximately $1,055,000. Caprock Group LLC bought a new stake in Tenet Healthcare during the second quarter worth about $477,000. Intech Investment Management LLC increased its holdings in Tenet Healthcare by 44.4% in the 3rd quarter. Intech Investment Management LLC now owns 79,266 shares of the company’s stock valued at $13,174,000 after buying an additional 24,385 shares during the period. Swiss National Bank boosted its position in shares of Tenet Healthcare by 8.7% during the 3rd quarter. Swiss National Bank now owns 190,800 shares of the company’s stock worth $31,711,000 after acquiring an additional 15,200 shares in the last quarter. Finally, Estate Counselors LLC acquired a new position in Tenet Healthcare during the third quarter valued at approximately $1,792,000. 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.