Tenet Healthcare (NYSE:THC) Price Target Raised to $257.00 at Guggenheim

Tenet Healthcare (NYSE:THC) had its target price raised by Guggenheim from $238.00 to $257.00 in a report published on Tuesday morning, MarketBeat Ratings reports. Guggenheim currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on THC. Barclays increased their price objective on shares of Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Mizuho increased their price target on Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Truist Financial restated a “buy” rating and set a $240.00 price objective (up previously from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Bank of America increased their target price on Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Finally, Royal Bank Of Canada upped their price objective on shares of Tenet Healthcare from $230.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average target price of $230.88.

Tenet Healthcare Stock Down 0.3%

Shares of Tenet Healthcare stock opened at $214.59 on Tuesday. The firm has a market cap of $18.86 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 0.89 and a beta of 1.53. The stock’s 50-day moving average is $202.63 and its 200 day moving average is $183.28. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.63. Tenet Healthcare has a one year low of $109.82 and a one year high of $222.82.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.37. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the firm earned $2.93 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Equities research analysts anticipate that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 78,762 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the sale, the chief executive officer owned 368,683 shares of the company’s stock, valued at $70,337,342.74. The trade was a 17.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tammy Romo sold 15,099 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $200.81, for a total value of $3,032,030.19. Following the completion of the transaction, the director directly owned 47,267 shares of the company’s stock, valued at $9,491,686.27. The trade was a 24.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 122,084 shares of company stock valued at $23,843,196 over the last 90 days. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenet Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of THC. Triumph Capital Management bought a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $25,000. SVB Wealth LLC purchased a new stake in Tenet Healthcare during the first quarter valued at about $30,000. Brooklyn Investment Group increased its holdings in shares of Tenet Healthcare by 908.7% in the first quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock worth $31,000 after buying an additional 209 shares during the period. William B. Walkup & Associates Inc. purchased a new stake in Tenet Healthcare during the 3rd quarter valued at about $32,000. Finally, Chung Wu Investment Group LLC bought a new position in Tenet Healthcare during the 2nd quarter worth approximately $35,000. 95.44% of the stock is currently owned by hedge funds and other 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.