Tenet Healthcare Corporation (NYSE:THC) Receives $229.00 Average Target Price from Analysts

Shares of Tenet Healthcare Corporation (NYSE:THC) have been assigned a consensus rating of “Moderate Buy” from the twenty-one analysts that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $229.00.

THC has been the topic of a number of research reports. Robert W. Baird cut their target price on shares of Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. UBS Group upped their price target on shares of Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wells Fargo & Company raised their price target on shares of Tenet Healthcare from $238.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Wall Street Zen raised Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a report on Saturday, July 26th. Finally, JPMorgan Chase & Co. increased their price target on Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th.

Tenet Healthcare Price Performance

THC stock opened at $192.34 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.27. The company has a 50-day moving average price of $198.90 and a 200 day moving average price of $179.19. Tenet Healthcare has a 12 month low of $109.82 and a 12 month high of $217.43. The stock has a market cap of $16.90 billion, a PE ratio of 13.18, a P/E/G ratio of 0.89 and a beta of 1.53.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the firm earned $2.93 earnings per share. The business’s 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. Equities research analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 13,322 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total transaction of $2,732,475.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tammy Romo sold 645 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $205.20, for a total value of $132,354.00. Following the completion of the sale, the director directly owned 34,866 shares of the company’s stock, valued at approximately $7,154,503.20. This represents a 1.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 130,092 shares of company stock worth $25,280,903 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

A number of institutional investors have recently bought and sold shares of the company. Crestwood Advisors Group LLC increased its holdings in shares of Tenet Healthcare by 2.5% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,606 shares of the company’s stock worth $529,000 after buying an additional 64 shares during the last quarter. ProShare Advisors LLC grew its position in Tenet Healthcare by 1.7% in the second quarter. ProShare Advisors LLC now owns 4,118 shares of the company’s stock worth $725,000 after acquiring an additional 67 shares during the period. US Bancorp DE raised its position in Tenet Healthcare by 0.8% in the first quarter. US Bancorp DE now owns 8,620 shares of the company’s stock valued at $1,159,000 after purchasing an additional 68 shares during the period. Quadcap Wealth Management LLC grew its holdings in shares of Tenet Healthcare by 1.7% during the 2nd quarter. Quadcap Wealth Management LLC now owns 4,099 shares of the company’s stock worth $721,000 after purchasing an additional 69 shares during the period. Finally, Andina Capital Management LLC increased its position in shares of Tenet Healthcare by 2.1% during the 3rd quarter. Andina Capital Management LLC now owns 3,360 shares of the company’s stock worth $682,000 after purchasing an additional 69 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

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.