Q2 2024 EPS Estimates for Tenet Healthcare Co. (NYSE:THC) Lifted by Leerink Partnrs

Tenet Healthcare Co. (NYSE:THC) – Equities research analysts at Leerink Partnrs lifted their Q2 2024 earnings per share (EPS) estimates for shares of Tenet Healthcare in a research report issued on Tuesday, April 30th. Leerink Partnrs analyst W. Mayo now expects that the company will earn $2.28 per share for the quarter, up from their prior estimate of $1.49. The consensus estimate for Tenet Healthcare’s current full-year earnings is $8.89 per share. Leerink Partnrs also issued estimates for Tenet Healthcare’s Q3 2024 earnings at $1.82 EPS, Q4 2024 earnings at $2.75 EPS, FY2024 earnings at $10.07 EPS, Q1 2025 earnings at $2.70 EPS, Q2 2025 earnings at $2.68 EPS, Q3 2025 earnings at $2.35 EPS, Q4 2025 earnings at $3.93 EPS, FY2025 earnings at $11.66 EPS and FY2026 earnings at $12.84 EPS.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the business earned $1.42 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis.

Several other research analysts have also commented on THC. Barclays boosted their price target on Tenet Healthcare from $113.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada increased their price target on shares of Tenet Healthcare from $109.00 to $136.00 and gave the company an “outperform” rating in a research report on Wednesday. Wolfe Research raised shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price objective on the stock in a research report on Wednesday, March 27th. Truist Financial restated a “buy” rating and issued a $130.00 target price (up from $120.00) on shares of Tenet Healthcare in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $113.19.

Tenet Healthcare Stock Performance

Shares of NYSE:THC opened at $120.28 on Friday. The firm has a 50 day moving average of $99.82 and a 200 day moving average of $81.94. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 4.67, a price-to-earnings-growth ratio of 2.63 and a beta of 2.09. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $121.72.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds have recently modified their holdings of the company. Rise Advisors LLC acquired a new position in Tenet Healthcare in the 1st quarter worth about $29,000. GAMMA Investing LLC purchased a new position in shares of Tenet Healthcare during the 4th quarter valued at approximately $52,000. Fidelis Capital Partners LLC purchased a new stake in Tenet Healthcare in the 1st quarter worth $78,000. FinTrust Capital Advisors LLC raised its position in Tenet Healthcare by 108.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after acquiring an additional 467 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Tenet Healthcare in the third quarter valued at about $67,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the transaction, the director now owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas W. Arnst sold 8,148 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. Insiders have sold a total of 59,416 shares of company stock worth $5,890,793 over the last quarter. Insiders own 0.93% 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.