Cantor Fitzgerald Raises Tenet Healthcare (NYSE:THC) Price Target to $245.00

Tenet Healthcare (NYSE:THC) had its price target lifted by equities research analysts at Cantor Fitzgerald from $190.00 to $245.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 17.79% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Barclays increased their price objective on shares of Tenet Healthcare from $208.00 to $229.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. JPMorgan Chase & Co. increased their price objective on shares of Tenet Healthcare from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Bank of America increased their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. The Goldman Sachs Group assumed coverage on shares of Tenet Healthcare in a research note on Tuesday, October 14th. They issued a “buy” rating and a $224.00 price objective on the stock. Finally, Wolfe Research cut shares of Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.31.

Tenet Healthcare Stock Performance

NYSE:THC opened at $208.00 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. Tenet Healthcare has a fifty-two week low of $109.82 and a fifty-two week high of $217.43. The stock has a market cap of $18.38 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.89 and a beta of 1.52. The firm’s fifty day simple moving average is $195.30 and its 200-day simple moving average is $172.15.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the prior year, the company posted $2.93 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Analysts expect that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lisa Y. Foo sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher S. Lynch sold 3,952 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 90,722 shares of company stock valued at $17,161,015. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds have recently modified their holdings of the stock. William B. Walkup & Associates Inc. purchased a new position in Tenet Healthcare in the third quarter valued at approximately $32,000. Chung Wu Investment Group LLC purchased a new position in Tenet Healthcare in the second quarter valued at approximately $35,000. Trust Co. of Vermont purchased a new position in Tenet Healthcare in the third quarter valued at approximately $41,000. Canada Pension Plan Investment Board purchased a new position in Tenet Healthcare in the second quarter valued at approximately $35,000. Finally, Wayfinding Financial LLC purchased a new position in Tenet Healthcare in the first quarter valued at approximately $28,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.