Analysts’ Weekly Ratings Changes for Tenet Healthcare (THC)

A number of research firms have changed their ratings and price targets for Tenet Healthcare (NYSE: THC):

• 5/2/2024 – Tenet Healthcare was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 5/2/2024 – Tenet Healthcare had its price target raised by analysts at Barclays PLC from $113.00 to $147.00. They now have an “overweight” rating on the stock.
• 5/1/2024 – Tenet Healthcare had its price target raised by analysts at Royal Bank of Canada from $109.00 to $136.00. They now have an “outperform” rating on the stock.
• 5/1/2024 – Tenet Healthcare had its price target raised by analysts at Stephens from $95.00 to $122.00. They now have an “equal weight” rating on the stock.
• 5/1/2024 – Tenet Healthcare had its price target raised by analysts at UBS Group AG from $137.00 to $150.00. They now have a “buy” rating on the stock.
• 5/1/2024 – Tenet Healthcare had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $130.00 price target on the stock, up previously from $118.00.
• 5/1/2024 – Tenet Healthcare had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $130.00 price target on the stock, up previously from $120.00.
• 4/12/2024 – Tenet Healthcare had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $100.00 to $126.00. They now have a “buy” rating on the stock.
• 4/10/2024 – Tenet Healthcare had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $104.00 price target on the stock.
• 3/28/2024 – Tenet Healthcare had its price target raised by analysts at Wells Fargo & Company from $105.00 to $115.00. They now have an “overweight” rating on the stock.
• 3/27/2024 – Tenet Healthcare was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating. They now have a $122.00 price target on the stock.

Tenet Healthcare Price Performance

THC opened at $124.10 on Wednesday. Tenet Healthcare Co. has a one year low of $51.04 and a one year high of $124.92. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.37. The company’s 50 day simple moving average is $101.66 and its 200-day simple moving average is $83.73. The stock has a market capitalization of $12.12 billion, a P/E ratio of 4.82, a price-to-earnings-growth ratio of 1.22 and a beta of 2.09.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the firm earned $1.42 earnings per share. Tenet Healthcare’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Tenet Healthcare Co. will post 8.73 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the sale, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Thomas W. Arnst sold 8,148 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total value of $945,982.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the transaction, the director now owns 20,127 shares in the company, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,416 shares of company stock valued at $5,890,793. 0.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC acquired a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $29,000. GAMMA Investing LLC acquired a new position in shares of Tenet Healthcare during the 4th quarter worth approximately $52,000. Fidelis Capital Partners LLC acquired a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $78,000. FinTrust Capital Advisors LLC grew its position in shares of Tenet Healthcare by 108.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after purchasing an additional 467 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.