Tenet Healthcare (NYSE:THC) Cut to Buy at Wall Street Zen

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

Several other analysts also recently commented on THC. Guggenheim boosted their target price on shares of Tenet Healthcare from $238.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Wells Fargo & Company increased their target price on Tenet Healthcare from $238.00 to $252.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Royal Bank Of Canada lifted their price target on Tenet Healthcare from $230.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Truist Financial restated a “buy” rating and issued a $240.00 price objective (up previously from $225.00) on shares of Tenet Healthcare in a research note on Monday, November 3rd. Finally, Zacks Research cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $231.81.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $200.97 on Friday. 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 firm’s 50-day moving average is $203.21 and its two-hundred day moving average is $187.89. The stock has a market capitalization of $17.66 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.88 and a beta of 1.44.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 EPS 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 firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the previous year, the business posted $2.93 EPS. The firm’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. Equities analysts predict that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Tammy Romo sold 15,099 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $200.81, for a total transaction of $3,032,030.19. Following the transaction, the director owned 47,267 shares in the company, valued at approximately $9,491,686.27. This represents a 24.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard W. Fisher sold 2,500 shares of the 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 transaction, the director owned 8,792 shares in the company, valued at approximately $1,832,516.56. The trade was a 22.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,500 shares of company stock valued at $9,247,071 over the last 90 days. 0.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds have recently bought and sold shares of THC. Northwestern Mutual Wealth Management Co. lifted its position in shares of Tenet Healthcare by 7.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,048 shares of the company’s stock valued at $410,000 after purchasing an additional 222 shares in the last quarter. CreativeOne Wealth LLC bought a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $1,338,000. B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Tenet Healthcare by 65.1% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 13,173 shares of the company’s stock valued at $1,772,000 after acquiring an additional 5,196 shares in the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of Tenet Healthcare by 50.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 13,346 shares of the company’s stock valued at $1,795,000 after acquiring an additional 4,446 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Tenet Healthcare by 9.9% in the first quarter. The Manufacturers Life Insurance Company now owns 124,247 shares of the company’s stock worth $16,711,000 after purchasing an additional 11,154 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Company Profile

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.