Analysts’ Weekly Ratings Updates for Tenet Healthcare (THC)

Several analysts have recently updated their ratings and price targets for Tenet Healthcare (NYSE: THC):

• 7/10/2024 – Tenet Healthcare had its price target raised by analysts at Barclays PLC from $147.00 to $156.00. They now have an “overweight” rating on the stock.
• 7/9/2024 – Tenet Healthcare had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $112.00 price target on the stock.
• 7/2/2024 – Tenet Healthcare had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $112.00 price target on the stock.
• 6/28/2024 – Tenet Healthcare had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $150.00 to $155.00. They now have a “buy” rating on the stock.
• 6/7/2024 – Tenet Healthcare was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 5/30/2024 – Tenet Healthcare was upgraded by analysts at Baird R W to a “strong-buy” rating.
• 5/30/2024 – Tenet Healthcare had its price target raised by analysts at JPMorgan Chase & Co. from $107.00 to $140.00. They now have an “overweight” rating on the stock.
• 5/30/2024 – Tenet Healthcare is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $153.00 price target on the stock.
• 5/30/2024 – Tenet Healthcare was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 5/30/2024 – Tenet Healthcare had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $126.00 to $150.00. They now have a “buy” rating on the stock.

Tenet Healthcare Trading Up 1.6 %

Shares of THC traded up $2.09 during midday trading on Friday, hitting $135.82. The stock had a trading volume of 230,702 shares, compared to its average volume of 1,200,238. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $142.35. The business has a 50-day simple moving average of $132.38 and a two-hundred day simple moving average of $105.99. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. The firm has a market cap of $13.27 billion, a P/E ratio of 5.27, a price-to-earnings-growth ratio of 1.20 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the prior year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that Tenet Healthcare Co. will post 8.7 EPS for the current year.

Insider Activity

In other news, Director Christopher S. Lynch sold 10,861 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the transaction, the director now owns 14,759 shares in the company, valued at approximately $1,975,196.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Tenet Healthcare news, Director Richard W. Fisher sold 1,400 shares of Tenet Healthcare stock in a transaction on Monday, June 10th. The stock was sold at an average price of $132.24, for a total transaction of $185,136.00. Following the completion of the transaction, the director now directly owns 16,227 shares of the company’s stock, valued at $2,145,858.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher S. Lynch sold 10,861 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the completion of the sale, the director now directly owns 14,759 shares in the company, valued at approximately $1,975,196.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,691 shares of company stock valued at $3,117,909. 0.93% of the stock is owned by company insiders.

Institutional Trading of Tenet Healthcare

Hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Tenet Healthcare by 0.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,604 shares of the company’s stock worth $1,325,000 after purchasing an additional 90 shares during the last quarter. Violich Capital Management Inc. lifted its stake in shares of Tenet Healthcare by 3.2% during the first quarter. Violich Capital Management Inc. now owns 3,380 shares of the company’s stock valued at $355,000 after acquiring an additional 105 shares during the period. GAMMA Investing LLC boosted its holdings in Tenet Healthcare by 17.0% in the first quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock valued at $77,000 after acquiring an additional 106 shares during the last quarter. Yousif Capital Management LLC raised its holdings in Tenet Healthcare by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock worth $3,236,000 after purchasing an additional 131 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its stake in shares of Tenet Healthcare by 1.7% in the 4th quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock valued at $656,000 after purchasing an additional 145 shares during the last quarter. 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.