Tenet Healthcare (NYSE:THC) Given New $229.00 Price Target at Barclays

Tenet Healthcare (NYSE:THC) had its price objective increased by Barclays from $208.00 to $229.00 in a research report report published on Thursday morning, MarketBeat Ratings reports. Barclays currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Wolfe Research downgraded Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 28th. Robert W. Baird dropped their target price on Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Wall Street Zen upgraded shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. UBS Group boosted their target price on shares of Tenet Healthcare from $230.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $190.00 price target on shares of Tenet Healthcare in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $196.81.

Tenet Healthcare Trading Up 3.8%

Tenet Healthcare stock opened at $190.40 on Thursday. Tenet Healthcare has a one year low of $109.82 and a one year high of $199.99. The business’s fifty day moving average is $174.96 and its 200 day moving average is $156.62. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. The stock has a market capitalization of $16.82 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 0.79 and a beta of 1.55.

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

Insider Activity at Tenet Healthcare

In other news, CEO Saumya Sutaria sold 78,762 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the completion of the sale, the chief executive officer owned 368,683 shares in the company, valued at approximately $70,337,342.74. This trade represents a 17.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher S. Lynch sold 3,952 shares of the 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 completion of the sale, the director directly owned 12,358 shares in the company, valued at $2,179,827.62. This trade represents a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,722 shares of company stock worth $17,161,015. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC grew its position in Tenet Healthcare by 1.7% in the 2nd quarter. ProShare Advisors LLC now owns 4,118 shares of the company’s stock valued at $725,000 after acquiring an additional 67 shares during the last quarter. US Bancorp DE increased its stake in Tenet Healthcare by 0.8% in the 1st quarter. US Bancorp DE now owns 8,620 shares of the company’s stock worth $1,159,000 after buying an additional 68 shares during the period. Quadcap Wealth Management LLC grew its stake in Tenet Healthcare by 1.7% in the 2nd quarter. Quadcap Wealth Management LLC now owns 4,099 shares of the company’s stock worth $721,000 after acquiring an additional 69 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Tenet Healthcare by 2.8% during the second quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $460,000 after acquiring an additional 70 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in shares of Tenet Healthcare by 5.3% in the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock valued at $192,000 after purchasing an additional 72 shares during the period. 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.