Tenet Healthcare Corporation (NYSE:THC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Tenet Healthcare Corporation (NYSE:THC) have received an average rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $230.8750.

Several brokerages have commented on THC. Truist Financial restated a “buy” rating and set a $240.00 price objective (up from $225.00) on shares of Tenet Healthcare in a research note on Monday, November 3rd. Bank of America boosted their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Guggenheim increased their price target on Tenet Healthcare from $238.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Royal Bank Of Canada boosted their price objective on Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Morgan Stanley set a $232.00 target price on Tenet Healthcare and gave the stock an “overweight” rating in a report on Wednesday, October 29th.

Tenet Healthcare Price Performance

NYSE THC opened at $201.93 on Wednesday. The stock’s fifty day moving average price is $203.46 and its 200 day moving average price is $184.82. Tenet Healthcare has a 1 year low of $109.82 and a 1 year high of $222.82. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64. The company has a market cap of $17.75 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.90 and a beta of 1.44.

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

Insider Activity at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $208.43, for a total transaction of $521,075.00. Following the sale, the director directly owned 8,792 shares in the company, valued at $1,832,516.56. This trade represents a 22.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Scott Ramsey sold 13,322 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $205.11, for a total value of $2,732,475.42. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 43,322 shares of company stock worth $8,816,982 in the last three months. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in Tenet Healthcare by 12.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,593 shares of the company’s stock worth $618,000 after purchasing an additional 498 shares during the last quarter. Deutsche Bank AG boosted its position in Tenet Healthcare by 4.4% during the first quarter. Deutsche Bank AG now owns 79,399 shares of the company’s stock worth $10,679,000 after acquiring an additional 3,351 shares during the last quarter. Townsquare Capital LLC grew its stake in Tenet Healthcare by 956.6% during the 1st quarter. Townsquare Capital LLC now owns 23,499 shares of the company’s stock valued at $3,161,000 after acquiring an additional 21,275 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $100,000. Finally, Nuveen LLC acquired a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $218,549,000. 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.