Tenet Healthcare Corporation (NYSE:THC) Receives $230.88 Consensus Price Target from Analysts

Shares of Tenet Healthcare Corporation (NYSE:THC) have received an average recommendation of “Moderate Buy” from the twenty-one analysts that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $230.8750.

THC has been the subject of several research reports. Mizuho lifted their price objective 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. The Goldman Sachs Group initiated coverage on Tenet Healthcare in a report on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price for the company. Wells Fargo & Company raised their target price on Tenet Healthcare from $238.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. upped their price target on Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings lowered shares of Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday.

Tenet Healthcare Price Performance

Shares of THC traded down $2.28 during trading hours on Wednesday, reaching $194.60. 39,579 shares of the stock traded hands, compared to its average volume of 1,376,100. Tenet Healthcare has a 52-week low of $109.82 and a 52-week high of $222.82. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.27. The company’s 50-day moving average price is $202.97 and its two-hundred day moving average price is $185.94. The company has a market cap of $17.10 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 0.86 and a beta of 1.44.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.26 billion. During the same period last year, the firm posted $2.93 earnings per share. Tenet Healthcare’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. On average, analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total value of $521,075.00. Following the sale, the director directly owned 8,792 shares in the company, valued at approximately $1,832,516.56. This represents a 22.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 43,322 shares of company stock valued at $8,816,982 in the last ninety days. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Several large investors have recently modified their holdings of THC. Triumph Capital Management purchased a new position in Tenet Healthcare during the 3rd quarter valued at about $25,000. William B. Walkup & Associates Inc. acquired a new stake in Tenet Healthcare during the third quarter worth $32,000. Westside Investment Management Inc. raised its holdings in shares of Tenet Healthcare by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock worth $39,000 after buying an additional 96 shares in the last quarter. Chung Wu Investment Group LLC acquired a new stake in Tenet Healthcare during the 2nd quarter valued at $35,000. Finally, Trust Co. of Vermont acquired a new stake in Tenet Healthcare in the 3rd quarter valued at about $41,000. 95.44% of the stock is owned by institutional investors.

About Tenet Healthcare

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.