TD Cowen Issues Pessimistic Forecast for Tenet Healthcare (NYSE:THC) Stock Price

Tenet Healthcare (NYSE:THC) had its price target dropped by research analysts at TD Cowen from $233.00 to $230.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 13.30% from the company’s previous close.

THC has been the subject of several other reports. Cowen restated a “buy” rating on shares of Tenet Healthcare in a research note on Wednesday. Cantor Fitzgerald raised their price objective on Tenet Healthcare from $190.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Wall Street Zen lowered Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 27th. Wells Fargo & Company lowered their price target on Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Guggenheim upped their price objective on shares of Tenet Healthcare from $238.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average target price of $233.81.

Tenet Healthcare Stock Up 0.5%

Shares of NYSE THC opened at $203.00 on Wednesday. The stock’s fifty day simple moving average is $202.33 and its two-hundred day simple moving average is $189.59. Tenet Healthcare has a 12-month low of $109.82 and a 12-month high of $222.82. 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 market capitalization of $17.84 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 0.86 and a beta of 1.41.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, beating the consensus estimate of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the firm posted $2.93 earnings per share. The company’s quarterly 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, analysts expect that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Tammy Romo sold 15,099 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $200.81, for a total transaction of $3,032,030.19. Following the completion of the transaction, the director directly owned 47,267 shares of the company’s stock, valued at approximately $9,491,686.27. This trade represents a 24.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard W. Fisher sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,500 shares of company stock worth $9,247,071 in the last 90 days. Corporate insiders own 0.81% of the company’s stock.

Institutional Trading of Tenet Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of THC. Boston Partners lifted its holdings in Tenet Healthcare by 38.8% in the third quarter. Boston Partners now owns 3,147,555 shares of the company’s stock valued at $638,958,000 after acquiring an additional 880,413 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Tenet Healthcare by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock valued at $373,020,000 after purchasing an additional 157,109 shares during the period. AQR Capital Management LLC boosted its holdings in Tenet Healthcare by 62.3% during the third quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company’s stock worth $380,989,000 after buying an additional 720,160 shares in the last quarter. Norges Bank purchased a new position in Tenet Healthcare in the second quarter valued at $206,981,000. Finally, Eminence Capital LP acquired a new position in shares of Tenet Healthcare in the third quarter worth about $225,263,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.