Tenet Healthcare (NYSE:THC) Given New $230.00 Price Target at JPMorgan Chase & Co.

Tenet Healthcare (NYSE:THC) had its target price raised by JPMorgan Chase & Co. from $200.00 to $230.00 in a research report sent to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the company. Royal Bank Of Canada raised their target price on Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. UBS Group boosted their price objective on Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group began coverage on Tenet Healthcare in a research report on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price on the stock. Mizuho boosted their price target on shares of Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Raymond James Financial set a $245.00 price objective on shares of Tenet Healthcare in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Tenet Healthcare Stock Performance

NYSE:THC traded down $4.36 during trading hours on Thursday, reaching $192.30. The company had a trading volume of 936,644 shares, compared to its average volume of 1,415,280. The firm has a market cap of $16.90 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.89 and a beta of 1.53. Tenet Healthcare has a 1-year low of $109.82 and a 1-year high of $217.43. The business’s 50 day moving average price is $198.98 and its 200-day moving average price is $177.85. 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 (NYSE:THC) last posted its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.37. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.93 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Research analysts forecast that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Activity at Tenet Healthcare

In related news, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the completion of the sale, the executive vice president owned 20,878 shares of the company’s stock, valued at approximately $3,748,227.34. The trade was a 27.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 134,044 shares of company stock worth $25,977,997 in the last 90 days. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

A number of hedge funds have recently modified their holdings of THC. William B. Walkup & Associates Inc. purchased a new position in Tenet Healthcare during the third quarter worth about $32,000. Westside Investment Management Inc. increased its holdings in shares of Tenet Healthcare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock worth $39,000 after buying an additional 96 shares during the last quarter. Chung Wu Investment Group LLC acquired a new position in Tenet Healthcare in the second quarter valued at approximately $35,000. Trust Co. of Vermont purchased a new position in Tenet Healthcare in the third quarter worth approximately $41,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Tenet Healthcare in the second quarter valued at $35,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

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.