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SunTrust Banks Lowers Tenet Healthcare (THC) Price Target to $27.00

Tenet Healthcare (NYSE:THC) had its price target decreased by SunTrust Banks to $27.00 in a research note published on Wednesday morning, The Fly reports. SunTrust Banks currently has a hold rating on the stock. SunTrust Banks also issued estimates for Tenet Healthcare’s FY2019 earnings at $2.63 EPS and FY2020 earnings at $3.37 EPS.

THC has been the subject of several other research reports. Barclays set a $24.00 price objective on shares of Tenet Healthcare and gave the stock a hold rating in a research report on Wednesday, April 17th. Zacks Investment Research raised shares of Tenet Healthcare from a sell rating to a buy rating and set a $24.00 price objective for the company in a research report on Tuesday, January 15th. ValuEngine raised shares of Tenet Healthcare from a strong sell rating to a sell rating in a research report on Wednesday, January 2nd. Citigroup raised their price objective on shares of Tenet Healthcare from $35.00 to $37.00 and gave the stock a buy rating in a research report on Wednesday, February 27th. Finally, Bank of America reaffirmed a neutral rating and set a $30.00 price objective (up previously from $21.00) on shares of Tenet Healthcare in a research report on Tuesday, February 26th. Two sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $30.07.

Get Tenet Healthcare alerts: Shares of THC stock traded up $0.23 during trading hours on Wednesday, hitting $21.40. 1,131,086 shares of the company were exchanged, 1,806,968. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.39 and a beta of 1.68. Tenet Healthcare has a fifty-two week low of $16.60 and a fifty-two week high of $39.74. The company has a quick ratio of 1.12, a current ratio of 1.23 and a debt-to-equity ratio of 21.98.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.29 by $0.25. The company had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.51 billion. Tenet Healthcare had a negative net margin of 0.04% and a positive return on equity of 29.29%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. Analysts anticipate that Tenet Healthcare will post 2.32 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of THC. Man Group plc acquired a new stake in Tenet Healthcare in the 3rd quarter valued at $3,933,000. Kentucky Retirement Systems bought a new position in Tenet Healthcare during the 3rd quarter valued at $345,000. Teachers Advisors LLC lifted its stake in Tenet Healthcare by 1.9% during the 3rd quarter. Teachers Advisors LLC now owns 169,980 shares of the company’s stock valued at $4,838,000 3,187 shares in the last quarter. Kepos Capital LP bought a new position in Tenet Healthcare during the 3rd quarter valued at $2,388,000. Finally, Legal & General Group Plc lifted its stake in Tenet Healthcare by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 268,434 shares of the company’s stock valued at $7,640,000 2,570 shares in the last quarter.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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