Tenet Healthcare (THC) – Research Analysts’ Weekly Ratings Changes

Posted by Donald Scott on Aug 2nd, 2024

Several brokerages have updated their recommendations and price targets on shares of Tenet Healthcare (NYSE: THC) in the last few weeks:

7/30/2024 – Tenet Healthcare had its price target raised by analysts at Wells Fargo & Company from $145.00 to $175.00. They now have an “overweight” rating on the stock.
7/30/2024 – Tenet Healthcare had its price target raised by analysts at The Goldman Sachs Group, Inc. from $156.00 to $173.00. They now have a “buy” rating on the stock.
7/29/2024 – Tenet Healthcare had its price target raised by analysts at Barclays PLC from $156.00 to $171.00. They now have an “overweight” rating on the stock.
7/25/2024 – Tenet Healthcare had its price target raised by analysts at Raymond James from $130.00 to $175.00. They now have a “strong-buy” rating on the stock.
7/25/2024 – Tenet Healthcare had its price target raised by analysts at Cantor Fitzgerald from $112.00 to $168.00. They now have an “overweight” rating on the stock.
7/25/2024 – Tenet Healthcare had its price target raised by analysts at Citigroup Inc. from $139.00 to $171.00. They now have a “buy” rating on the stock.
7/25/2024 – Tenet Healthcare had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $170.00 price target on the stock, up previously from $155.00.
7/15/2024 – Tenet Healthcare had its price target raised by analysts at Truist Financial Co. from $130.00 to $155.00. They now have a “buy” rating on the stock.
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.

Tenet Healthcare Stock Down 4.2 %

NYSE:THC traded down $6.20 during trading hours on Friday, hitting $141.75. The company’s stock had a trading volume of 1,609,916 shares, compared to its average volume of 1,246,323. The stock has a market capitalization of $13.58 billion, a P/E ratio of 5.50, a price-to-earnings-growth ratio of 0.77 and a beta of 2.15. The stock has a fifty day moving average of $136.79 and a 200-day moving average of $113.09. The company has a current ratio of 1.45, a quick ratio of 1.38 and a debt-to-equity ratio of 2.53. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $155.00.

Tenet Healthcare (NYSE:THC – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $1.77. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.42 earnings per share. On average, equities analysts forecast that Tenet Healthcare Co. will post 10.68 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,500 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total transaction of $308,000.00. Following the completion of the sale, the director now owns 17,627 shares in the company, valued at $2,171,646.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Richard W. Fisher sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total value of $308,000.00. Following the completion of the sale, the director now owns 17,627 shares in the company, valued at $2,171,646.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard W. Fisher sold 1,400 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $132.24, for a total transaction of $185,136.00. Following the completion of the sale, the director now owns 16,227 shares of the company’s stock, valued at approximately $2,145,858.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,543 shares of company stock worth $2,171,926. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Tenet Healthcare

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Tenet Healthcare by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,110,396 shares of the company’s stock worth $839,613,000 after buying an additional 172,913 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Tenet Healthcare by 113.5% in the 1st quarter. BNP Paribas Financial Markets now owns 54,878 shares of the company’s stock worth $5,768,000 after purchasing an additional 29,172 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth about $410,000. Hsbc Holdings PLC increased its position in shares of Tenet Healthcare by 113.0% in the 4th quarter. Hsbc Holdings PLC now owns 453,624 shares of the company’s stock worth $34,266,000 after purchasing an additional 240,611 shares during the last quarter. Finally, First Light Asset Management LLC bought a new stake in shares of Tenet Healthcare in the 4th quarter worth about $14,706,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

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.