Tenet Healthcare (NYSE:THC) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Tenet Healthcare (NYSE:THC) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

THC has been the topic of several other reports. TD Cowen dropped their price objective on Tenet Healthcare from $233.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday. KeyCorp boosted their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $247.00 price objective on shares of Tenet Healthcare in a report on Thursday, December 18th. Truist Financial reissued a “buy” rating and set a $240.00 target price (up previously from $225.00) on shares of Tenet Healthcare in a research note on Monday, November 3rd. Finally, Mizuho raised their price target on shares of Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average price target of $233.81.

Tenet Healthcare Stock Performance

Shares of NYSE THC opened at $201.46 on Friday. The company has a market capitalization of $17.71 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 0.85 and a beta of 1.41. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.64 and a current ratio of 1.71. The company’s fifty day moving average price is $202.22 and its 200 day moving average price is $189.94. Tenet Healthcare has a 1 year low of $109.82 and a 1 year high of $222.82.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, topping 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 business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the prior year, the firm posted $2.93 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. On average, research analysts predict that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Nadja West sold 2,178 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $197.47, for a total transaction of $430,089.66. Following the transaction, the director owned 28,480 shares of the company’s stock, valued at approximately $5,623,945.60. The trade was a 7.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tammy Romo sold 15,099 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $200.81, for a total transaction of $3,032,030.19. Following the sale, the director owned 47,267 shares of the company’s stock, valued at approximately $9,491,686.27. The trade was a 24.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 45,500 shares of company stock worth $9,247,071. 0.81% of the stock is owned by corporate insiders.

Institutional Trading of Tenet Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Triumph Capital Management acquired a new position in Tenet Healthcare in the third quarter valued at approximately $25,000. William B. Walkup & Associates Inc. purchased a new stake in Tenet Healthcare in the third quarter valued at $32,000. Chung Wu Investment Group LLC purchased a new position in shares of Tenet Healthcare during the 2nd quarter worth $35,000. Canada Pension Plan Investment Board acquired a new stake in shares of Tenet Healthcare during the 2nd quarter worth about $35,000. Finally, Westside Investment Management Inc. lifted its position in Tenet Healthcare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock valued at $39,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.