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

Shares of Tenet Healthcare Corporation (NYSE:THC) have earned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $231.8125.

A number of equities analysts recently commented on the company. Truist Financial restated a “buy” rating and issued 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 lifted their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Cantor Fitzgerald increased their target price on shares of Tenet Healthcare from $190.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group initiated coverage on Tenet Healthcare in a research note on Tuesday, October 14th. They set a “buy” rating and a $224.00 price target for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $247.00 price objective on shares of Tenet Healthcare in a research note on Thursday, December 18th.

Insider Activity

In other news, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 45,500 shares of company stock valued at $9,247,071 in the last quarter. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenet Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Triumph Capital Management bought a new position in shares of Tenet Healthcare during the third quarter valued at $25,000. William B. Walkup & Associates Inc. bought a new position in Tenet Healthcare during the 3rd quarter valued at about $32,000. Chung Wu Investment Group LLC acquired a new position in Tenet Healthcare in the second quarter valued at about $35,000. Canada Pension Plan Investment Board bought a new stake in Tenet Healthcare during the second quarter worth about $35,000. Finally, Westside Investment Management Inc. raised its stake in shares of Tenet Healthcare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock valued at $39,000 after acquiring an additional 96 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Trading Up 0.3%

Tenet Healthcare stock opened at $199.39 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. Tenet Healthcare has a 12 month low of $109.82 and a 12 month high of $222.82. The company’s fifty day simple moving average is $202.68 and its 200-day simple moving average is $188.69. The stock has a market cap of $17.52 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.85 and a beta of 1.41.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, October 28th. The company reported $3.70 EPS 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 firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. The business’s quarterly 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, sell-side analysts forecast that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Tenet Healthcare Company Profile

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.