Tenet Healthcare (NYSE:THC) Price Target Raised to $257.00

by · The Cerbat Gem

Tenet Healthcare (NYSE:THC – Free Report) had its price target increased by Guggenheim from $238.00 to $257.00 in a research report released on Tuesday morning, MarketBeat reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Tenet Healthcare in a research report on Monday, November 24th. Zacks Research cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. The Goldman Sachs Group initiated coverage on shares of Tenet Healthcare in a research note on Tuesday, October 14th. They set a “buy” rating and a $224.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and set a $240.00 price target (up from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Finally, Bank of America boosted their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.88.

Read Our Latest Research Report on Tenet Healthcare

Tenet Healthcare Stock Performance

Shares of NYSE:THC opened at $212.02 on Tuesday. The firm has a market capitalization of $18.63 billion, a PE ratio of 14.53, a P/E/G ratio of 0.92 and a beta of 1.44. Tenet Healthcare has a 12 month low of $109.82 and a 12 month high of $222.82. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64. The business has a 50-day moving average of $203.22 and a two-hundred day moving average of $183.67.

Tenet Healthcare (NYSE:THC – Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the previous year, the business earned $2.93 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, research analysts forecast that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $208.43, for a total value of $521,075.00. Following the completion of the sale, the director directly owned 8,792 shares in the company, valued at approximately $1,832,516.56. This trade represents a 22.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 122,084 shares of company stock worth $23,843,196 in the last quarter. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of hedge funds have recently added to or reduced their stakes in THC. Crestwood Advisors Group LLC boosted its position 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 valued at $529,000 after purchasing an additional 64 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Tenet Healthcare by 1.7% in the second quarter. ProShare Advisors LLC now owns 4,118 shares of the company’s stock valued at $725,000 after buying an additional 67 shares in the last quarter. US Bancorp DE boosted its stake in shares of Tenet Healthcare by 0.8% during the 1st quarter. US Bancorp DE now owns 8,620 shares of the company’s stock worth $1,159,000 after acquiring an additional 68 shares in the last quarter. Quadcap Wealth Management LLC grew its holdings in shares of Tenet Healthcare by 1.7% in the 2nd quarter. Quadcap Wealth Management LLC now owns 4,099 shares of the company’s stock worth $721,000 after acquiring an additional 69 shares during the last quarter. Finally, Andina Capital Management LLC lifted its holdings in shares of Tenet Healthcare by 2.1% during the third quarter. Andina Capital Management LLC now owns 3,360 shares of the company’s stock valued at $682,000 after purchasing an additional 69 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

About Tenet Healthcare

(Get Free Report)

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.

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