Recent Analysts’ Ratings Updates for Tenet Healthcare (THC)

Several analysts have recently updated their ratings and price targets for Tenet Healthcare (NYSE: THC):

• 11/8/2024 – Tenet Healthcare had its price target raised by analysts at Barclays PLC from $171.00 to $190.00. They now have an “overweight” rating on the stock.
• 11/6/2024 – Tenet Healthcare had its price target raised by analysts at Wells Fargo & Company from $195.00 to $205.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – Tenet Healthcare had its price target raised by analysts at Cantor Fitzgerald from $168.00 to $177.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – Tenet Healthcare had its price target raised by analysts at Royal Bank of Canada from $174.00 to $183.00. They now have an “outperform” rating on the stock.
• 10/30/2024 – Tenet Healthcare had its price target raised by analysts at The Goldman Sachs Group, Inc. from $173.00 to $196.00. They now have a “buy” rating on the stock.
• 10/30/2024 – Tenet Healthcare had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $190.00 price target on the stock, up previously from $180.00.
• 10/30/2024 – Tenet Healthcare had its price target raised by analysts at UBS Group AG from $197.00 to $217.00. They now have a “buy” rating on the stock.
• 10/22/2024 – Tenet Healthcare had its price target raised by analysts at Wells Fargo & Company from $175.00 to $195.00. They now have an “overweight” rating on the stock.
• 10/14/2024 – Tenet Healthcare had its price target raised by analysts at Truist Financial Co. from $170.00 to $180.00. They now have a “buy” rating on the stock.
• 10/11/2024 – Tenet Healthcare is now covered by analysts at KeyCorp. They set an “overweight” rating and a $200.00 price target on the stock.
• 10/10/2024 – Tenet Healthcare was upgraded by analysts at KeyCorp to a “strong-buy” rating.
• 10/1/2024 – Tenet Healthcare had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $168.00 price target on the stock.

Tenet Healthcare Stock Down 1.9 %

Shares of Tenet Healthcare stock traded down $2.91 on Monday, reaching $152.43. The company’s stock had a trading volume of 853,094 shares, compared to its average volume of 1,216,557. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35. Tenet Healthcare Co. has a 52 week low of $62.70 and a 52 week high of $171.20. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 4.88, a P/E/G ratio of 0.70 and a beta of 2.15. The firm’s fifty day simple moving average is $159.57 and its two-hundred day simple moving average is $147.21.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.60. The business had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 EPS. Equities analysts anticipate that Tenet Healthcare Co. will post 11.37 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, the executive vice president now owns 15,566 shares of the company’s stock, valued at approximately $2,427,362.04. This represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard W. Fisher sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $163.67, for a total value of $327,340.00. Following the completion of the sale, the director now owns 14,227 shares in the company, valued at $2,328,533.09. This represents a 12.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,599 shares of company stock worth $2,830,834 over the last three months. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in shares of Tenet Healthcare in the 2nd quarter worth $28,000. Plato Investment Management Ltd acquired a new stake in Tenet Healthcare during the third quarter worth approximately $28,000. ORG Wealth Partners LLC acquired a new position in shares of Tenet Healthcare during the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new position in shares of Tenet Healthcare in the 2nd quarter valued at $31,000. Finally, Blue Trust Inc. grew its stake in Tenet Healthcare by 93.0% during the second quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after buying an additional 120 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

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.