Tenet Healthcare (NYSE:THC) Price Target Raised to $225.00 at Bank of America

Tenet Healthcare (NYSE:THC) had its price objective increased by analysts at Bank of America from $205.00 to $225.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 16.37% from the company’s previous close.

A number of other research analysts have also commented on THC. Barclays lowered their price target on Tenet Healthcare from $215.00 to $208.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Mizuho upped their price target on Tenet Healthcare from $184.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, July 11th. UBS Group increased their target price on Tenet Healthcare from $230.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Wolfe Research cut Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a report on Monday, July 28th. Finally, Wells Fargo & Company increased their price target on Tenet Healthcare from $195.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.50.

Tenet Healthcare Trading Up 0.8%

NYSE THC opened at $193.35 on Wednesday. Tenet Healthcare has a 1-year low of $109.82 and a 1-year high of $199.99. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The stock has a 50-day moving average of $173.49 and a 200-day moving average of $154.64. The firm has a market cap of $17.08 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 0.82 and a beta of 1.55.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $1.18. The business had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.Tenet Healthcare’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, sell-side analysts forecast that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the sale, the director directly owned 12,358 shares of the company’s stock, valued at $2,179,827.62. This trade represents a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the sale, the executive vice president directly owned 20,878 shares in the company, valued at approximately $3,748,227.34. This represents a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,960 shares of company stock worth $2,134,801. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Large investors have recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Tenet Healthcare in the first quarter worth about $26,000. Chung Wu Investment Group LLC purchased a new stake in shares of Tenet Healthcare in the second quarter valued at approximately $35,000. Canada Pension Plan Investment Board purchased a new stake in shares of Tenet Healthcare in the second quarter valued at approximately $35,000. Wayfinding Financial LLC purchased a new stake in shares of Tenet Healthcare in the first quarter valued at approximately $28,000. Finally, SVB Wealth LLC bought a new position in Tenet Healthcare in the first quarter worth approximately $30,000. 95.44% of the stock is owned by institutional investors.

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.