SVB Leerink Weighs in on Tenet Healthcare Co.’s Q3 2022 Earnings (NYSE:THC)

Tenet Healthcare Co. (NYSE:THCGet Rating) – Equities research analysts at SVB Leerink boosted their Q3 2022 EPS estimates for Tenet Healthcare in a report issued on Thursday, April 14th. SVB Leerink analyst W. Mayo now forecasts that the company will post earnings of $1.55 per share for the quarter, up from their previous forecast of $1.49. SVB Leerink has a “Outperform” rating and a $100.00 price objective on the stock. SVB Leerink also issued estimates for Tenet Healthcare’s Q1 2023 earnings at $1.41 EPS, Q2 2023 earnings at $1.44 EPS, Q3 2023 earnings at $1.73 EPS, Q4 2023 earnings at $2.91 EPS, FY2023 earnings at $7.49 EPS, FY2024 earnings at $8.59 EPS, FY2025 earnings at $9.51 EPS and FY2026 earnings at $10.50 EPS.

Other equities analysts have also issued research reports about the company. Barclays increased their target price on Tenet Healthcare from $87.00 to $99.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 9th. Credit Suisse Group raised their price objective on Tenet Healthcare from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Tenet Healthcare from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 9th. UBS Group upgraded Tenet Healthcare from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $83.00 to $111.00 in a research note on Thursday, February 10th. Finally, Mizuho raised their price objective on Tenet Healthcare from $90.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, March 3rd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $97.00.

NYSE:THC opened at $85.00 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.38 and a debt-to-equity ratio of 7.55. The stock’s 50 day moving average price is $85.17 and its two-hundred day moving average price is $78.13. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 4.92 and a beta of 2.42. Tenet Healthcare has a 12-month low of $50.78 and a 12-month high of $92.65.

Tenet Healthcare (NYSE:THCGet Rating) last released its quarterly earnings data on Monday, February 7th. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $1.14. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $5.01 billion. Tenet Healthcare had a return on equity of 56.04% and a net margin of 4.69%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.56 earnings per share.

A number of hedge funds have recently added to or reduced their stakes in the business. Dorsey Wright & Associates boosted its stake in Tenet Healthcare by 0.4% during the 4th quarter. Dorsey Wright & Associates now owns 34,783 shares of the company’s stock valued at $2,841,000 after purchasing an additional 138 shares during the last quarter. Hanseatic Management Services Inc. boosted its stake in shares of Tenet Healthcare by 9.2% in the 4th quarter. Hanseatic Management Services Inc. now owns 1,638 shares of the company’s stock worth $134,000 after buying an additional 138 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Tenet Healthcare by 33.5% in the 4th quarter. Fifth Third Bancorp now owns 629 shares of the company’s stock worth $51,000 after buying an additional 158 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Tenet Healthcare by 0.8% in the 3rd quarter. Arizona State Retirement System now owns 24,726 shares of the company’s stock worth $1,643,000 after buying an additional 189 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Tenet Healthcare by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the company’s stock worth $2,246,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.

In related news, Director Richard J. Mark sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $90.47, for a total value of $542,820.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ronald A. Rittenmeyer sold 59,851 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $90.12, for a total value of $5,393,772.12. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

About Tenet Healthcare (Get Rating)

Tenet Healthcare Corp. engages in the provision of health care services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment consists of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices.

See Also

Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

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