Tenet Healthcare Co. (NYSE:THC) – Jefferies Financial Group reduced their Q4 2021 earnings per share estimates for shares of Tenet Healthcare in a note issued to investors on Wednesday, January 12th. Jefferies Financial Group analyst B. Tanquilut now anticipates that the company will earn $1.39 per share for the quarter, down from their prior estimate of $1.43. Jefferies Financial Group also issued estimates for Tenet Healthcare’s FY2022 earnings at $6.69 EPS and FY2023 earnings at $7.66 EPS.
THC has been the subject of several other reports. Barclays increased their price target on Tenet Healthcare from $81.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, December 21st. Truist Securities raised their target price on Tenet Healthcare from $78.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, January 5th. Truist increased their price target on shares of Tenet Healthcare from $78.00 to $90.00 in a research report on Wednesday, January 5th. Stephens increased their price target on shares of Tenet Healthcare from $77.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 9th. Finally, UBS Group began coverage on shares of Tenet Healthcare in a report on Thursday, September 23rd. They issued a “neutral” rating and a $83.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Buy” and an average target price of $84.71.
Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, October 19th. The company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.90. Tenet Healthcare had a return on equity of 58.52% and a net margin of 5.52%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year.
A number of large investors have recently modified their holdings of THC. Invesco Ltd. boosted its holdings in Tenet Healthcare by 78.1% during the third quarter. Invesco Ltd. now owns 4,624,002 shares of the company’s stock worth $307,219,000 after purchasing an additional 2,027,131 shares during the last quarter. Viking Global Investors LP lifted its stake in Tenet Healthcare by 47.2% in the third quarter. Viking Global Investors LP now owns 3,353,856 shares of the company’s stock valued at $222,830,000 after acquiring an additional 1,074,674 shares during the last quarter. State Street Corp lifted its stake in Tenet Healthcare by 1.5% in the second quarter. State Street Corp now owns 3,288,634 shares of the company’s stock valued at $220,306,000 after acquiring an additional 47,758 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tenet Healthcare by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,337,562 shares of the company’s stock valued at $155,317,000 after purchasing an additional 20,670 shares during the period. Finally, Centerbridge Partners L.P. raised its position in shares of Tenet Healthcare by 3.6% in the third quarter. Centerbridge Partners L.P. now owns 2,222,931 shares of the company’s stock valued at $147,692,000 after purchasing an additional 77,284 shares during the period. 93.38% of the stock is owned by hedge funds and other institutional investors.
In other Tenet Healthcare news, EVP Audrey T. Andrews sold 56,626 shares of the business’s stock in a transaction dated Friday, November 12th. The shares were sold at an average price of $78.46, for a total value of $4,442,875.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Ronald A. Rittenmeyer sold 29,520 shares of the business’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $79.02, for a total transaction of $2,332,670.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,564 shares of company stock worth $10,978,279. Insiders own 1.60% of the company’s stock.
Tenet Healthcare Company Profile
Tenet Healthcare Corp. engages in the provision of health care services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment comprises of acute care hospitals, ancillary outpatient facilities, urgent care centers, microhospitals and physician practices.
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