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

Tenet Healthcare (NYSE:THC) had its price target increased by analysts at Guggenheim from $238.00 to $257.00 in a research note issued on Tuesday, Marketbeat reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target indicates a potential upside of 21.71% from the stock’s previous close.

THC has been the topic of a number of other reports. Truist Financial restated a “buy” rating and issued a $240.00 target price (up from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Royal Bank Of Canada upped their price objective on shares of Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. JPMorgan Chase & Co. raised their price objective on Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Finally, Bank of America lifted their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $230.88.

Tenet Healthcare Trading Down 1.7%

Shares of Tenet Healthcare stock opened at $211.16 on Tuesday. The business has a 50 day moving average price of $202.92 and a 200 day moving average price of $183.47. The company has a market capitalization of $18.56 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.94 and a beta of 1.44. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64. Tenet Healthcare has a 1 year low of $109.82 and a 1 year high of $222.82.

Tenet Healthcare (NYSE:THC) last released 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. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.93 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Sell-side analysts anticipate that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total value of $521,075.00. Following the transaction, the director owned 8,792 shares in the company, valued at approximately $1,832,516.56. This trade represents a 22.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tammy Romo sold 645 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $205.20, for a total transaction of $132,354.00. Following the transaction, the director directly owned 34,866 shares in the company, valued at approximately $7,154,503.20. This trade represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 122,084 shares of company stock valued at $23,843,196. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss Life Asset Management Ltd raised its position in Tenet Healthcare by 75.8% in the third quarter. Swiss Life Asset Management Ltd now owns 4,305 shares of the company’s stock valued at $874,000 after purchasing an additional 1,856 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Tenet Healthcare in the third quarter valued at about $1,072,000. Ariadne Wealth Management LP purchased a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $211,000. Caerus Investment Advisors LLC purchased a new position in Tenet Healthcare in the 3rd quarter worth approximately $346,000. Finally, Captrust Financial Advisors grew its position in Tenet Healthcare by 67.4% in the third quarter. Captrust Financial Advisors now owns 10,599 shares of the company’s stock valued at $2,152,000 after acquiring an additional 4,268 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.