Tenet Healthcare (NYSE:THC) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Tenet Healthcare (NYSE:THC) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $190.00 target price on the stock.

Other analysts also recently issued research reports about the company. Mizuho raised their price objective on Tenet Healthcare from $184.00 to $194.00 and gave the stock an “outperform” rating in a research report on Friday, July 11th. Wells Fargo & Company raised their price objective on Tenet Healthcare from $200.00 to $238.00 and gave the stock an “overweight” rating in a research report on Tuesday. Barclays raised their price objective on Tenet Healthcare from $208.00 to $229.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Robert W. Baird dropped their target price on Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $200.00 target price (up from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average price target of $199.19.

Tenet Healthcare Price Performance

Shares of THC stock opened at $204.53 on Tuesday. The stock has a 50 day moving average of $183.68 and a two-hundred day moving average of $163.55. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. Tenet Healthcare has a 12 month low of $109.82 and a 12 month high of $207.14. The company has a market capitalization of $18.07 billion, a P/E ratio of 13.09, a P/E/G ratio of 0.85 and a beta of 1.52.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $1.18. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The company had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter last year, the company earned $2.31 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, equities analysts expect that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Activity at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 3,952 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $2,179,827.62. This trade represents a 24.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Saumya Sutaria sold 78,762 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer directly owned 368,683 shares of the company’s stock, valued at $70,337,342.74. This represents a 17.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,722 shares of company stock valued at $17,161,015 in the last three months. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare in the 1st quarter valued at $26,000. Chung Wu Investment Group LLC acquired a new stake in shares of Tenet Healthcare in the 2nd quarter valued at $35,000. Canada Pension Plan Investment Board acquired a new stake in shares of Tenet Healthcare in the 2nd quarter valued at $35,000. Wayfinding Financial LLC acquired a new stake in shares of Tenet Healthcare in the 1st quarter valued at $28,000. Finally, SVB Wealth LLC acquired a new stake in shares of Tenet Healthcare in the 1st quarter valued at $30,000. 95.44% of the stock is owned by institutional investors and hedge funds.

About Tenet Healthcare

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.