Tenet Healthcare (NYSE:THC) Cut to Buy at Wall Street Zen

Tenet Healthcare (NYSE:THC) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

Several other analysts have also recently weighed in on the stock. Mizuho lifted their price target on shares of Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, October 17th. TD Cowen decreased their target price on Tenet Healthcare from $233.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. 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. Raymond James Financial set a $245.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, October 29th. Finally, UBS Group increased their price objective on shares of Tenet Healthcare from $238.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $233.81.

Tenet Healthcare Stock Performance

THC stock opened at $196.71 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.27. The stock has a 50-day moving average price of $201.55 and a 200-day moving average price of $190.80. The firm has a market cap of $17.29 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.83 and a beta of 1.41. Tenet Healthcare has a 1-year low of $109.82 and a 1-year high of $222.82.

Tenet Healthcare (NYSE:THC) last posted its 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 company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the prior year, the business posted $2.93 EPS. The firm’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. As a group, equities research analysts expect that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other news, Director Tammy Romo sold 15,099 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $200.81, for a total transaction of $3,032,030.19. Following the completion of the sale, the director directly owned 47,267 shares in the company, valued at $9,491,686.27. This represents a 24.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Nadja West sold 2,178 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the completion of the transaction, the director owned 28,480 shares in the company, valued at $5,623,945.60. This represents a 7.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 45,500 shares of company stock worth $9,247,071. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wedmont Private Capital grew its holdings in shares of Tenet Healthcare by 2.5% during the 4th quarter. Wedmont Private Capital now owns 2,088 shares of the company’s stock worth $422,000 after purchasing an additional 50 shares in the last quarter. Baron Wealth Management LLC lifted its holdings in shares of Tenet Healthcare by 4.8% in the fourth quarter. Baron Wealth Management LLC now owns 1,142 shares of the company’s stock valued at $227,000 after purchasing an additional 52 shares in the last quarter. Sagespring Wealth Partners LLC increased its position in shares of Tenet Healthcare by 3.6% during the 4th quarter. Sagespring Wealth Partners LLC now owns 1,573 shares of the company’s stock valued at $313,000 after purchasing an additional 55 shares during the last quarter. Crestwood Advisors Group LLC increased its stake in shares of Tenet Healthcare by 2.5% in the third quarter. Crestwood Advisors Group LLC now owns 2,606 shares of the company’s stock worth $529,000 after purchasing an additional 64 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings 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 purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.