Tenet Healthcare (NYSE:THC) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Tenet Healthcare (NYSE:THC) had its price objective boosted by equities research analysts at Wells Fargo & Company from $238.00 to $252.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 27.81% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Mizuho upped their price target on shares of Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Barclays boosted their price objective on Tenet Healthcare from $208.00 to $229.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Truist Financial reaffirmed a “buy” rating and set a $240.00 price objective (up from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Morgan Stanley set a $232.00 target price on Tenet Healthcare and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, KeyCorp lifted their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.13.

Tenet Healthcare Price Performance

THC traded down $2.83 on Thursday, hitting $197.16. 154,244 shares of the stock were exchanged, compared to its average volume of 1,415,734. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.63. Tenet Healthcare has a 12 month low of $109.82 and a 12 month high of $217.43. The firm has a market capitalization of $17.33 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.89 and a beta of 1.53. The business has a 50-day moving average of $198.89 and a two-hundred day moving average of $177.72.

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

Insiders Place Their Bets

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,500 shares of the business’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 transaction, the director owned 8,792 shares of the company’s stock, valued at $1,832,516.56. The trade was a 22.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saumya Sutaria sold 78,762 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the transaction, the chief executive officer directly owned 368,683 shares in the company, valued at approximately $70,337,342.74. This represents a 17.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 134,044 shares of company stock valued at $25,977,997 over the last three months. 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 the stock. AlphaQuest LLC increased its stake in shares of Tenet Healthcare by 230.8% during the second quarter. AlphaQuest LLC now owns 1,763 shares of the company’s stock valued at $310,000 after buying an additional 1,230 shares during the period. Royal Bank of Canada increased its position in Tenet Healthcare by 34.0% during the 1st quarter. Royal Bank of Canada now owns 119,349 shares of the company’s stock valued at $16,052,000 after purchasing an additional 30,281 shares during the period. Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Tenet Healthcare by 22.2% in the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,813 shares of the company’s stock worth $14,575,000 after purchasing an additional 15,019 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of Tenet Healthcare by 46.6% during the second quarter. Cullen Frost Bankers Inc. now owns 601 shares of the company’s stock valued at $106,000 after buying an additional 191 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Tenet Healthcare by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,969 shares of the company’s stock worth $37,252,000 after buying an additional 12,914 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

About Tenet Healthcare

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.