Tenet Healthcare (NYSE:THC) Price Target Raised to $230.00 at JPMorgan Chase & Co.

Tenet Healthcare (NYSE:THC) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $200.00 to $230.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 17.31% from the company’s previous close.

Several other research firms have also recently weighed in on THC. Raymond James Financial set a $245.00 price objective on Tenet Healthcare in a research report on Wednesday, October 29th. Guggenheim increased their price target on Tenet Healthcare from $221.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Truist Financial reiterated a “buy” rating and issued a $240.00 target price (up from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. The Goldman Sachs Group assumed coverage on shares of Tenet Healthcare in a research note on Tuesday, October 14th. They issued a “buy” rating and a $224.00 price objective for the company. Finally, Cantor Fitzgerald boosted their target price on shares of Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Tenet Healthcare Stock Down 2.0%

NYSE:THC traded down $3.92 during trading hours on Thursday, hitting $196.07. 217,872 shares of the stock traded hands, compared to its average volume of 1,416,063. The firm has a 50 day moving average price of $198.89 and a 200 day moving average price of $177.72. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.27. Tenet Healthcare has a fifty-two week low of $109.82 and a fifty-two week high of $217.43. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 0.89 and a beta of 1.53.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the previous year, the firm posted $2.93 earnings per share. The company’s revenue for the quarter 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 research analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Activity

In other Tenet Healthcare news, insider R. Scott Ramsey sold 13,322 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $205.11, for a total transaction of $2,732,475.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the sale, the executive vice president owned 20,878 shares in the company, valued at approximately $3,748,227.34. The trade was a 27.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 134,044 shares of company stock worth $25,977,997. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in THC. BNP Paribas Financial Markets raised its holdings in Tenet Healthcare by 4.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 183,124 shares of the company’s stock valued at $37,181,000 after buying an additional 8,588 shares during the period. FourThought Financial Partners LLC acquired a new stake in Tenet Healthcare during the third quarter worth about $320,000. Vestcor Inc lifted its position in Tenet Healthcare by 132.4% during the third quarter. Vestcor Inc now owns 13,986 shares of the company’s stock valued at $2,840,000 after buying an additional 7,969 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Tenet Healthcare during the 3rd quarter valued at approximately $7,748,000. Finally, Schroder Investment Management Group lifted its stake in Tenet Healthcare by 165.8% in the third quarter. Schroder Investment Management Group now owns 40,497 shares of the company’s stock valued at $8,148,000 after buying an additional 25,262 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Company Profile

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.