Tenet Healthcare (NYSE:THC) Upgraded 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 report published on Saturday.

Several other equities analysts have also weighed in on THC. Truist Financial reaffirmed a “buy” rating and set a $240.00 price objective (up previously from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. Barclays lifted their price objective on shares of Tenet Healthcare from $229.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. UBS Group increased their target price on shares of Tenet Healthcare from $238.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Mizuho upped their price target on Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. One 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $233.81.

Tenet Healthcare Stock Down 0.6%

Tenet Healthcare stock opened at $199.91 on Friday. The firm’s 50 day moving average price is $202.19 and its two-hundred day moving average price is $190.28. The firm has a market cap of $17.57 billion, a PE ratio of 13.70, a P/E/G ratio of 0.85 and a beta of 1.41. Tenet Healthcare has a twelve month low of $109.82 and a twelve month high of $222.82. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.64 and a current ratio of 1.71.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results 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. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. Tenet Healthcare’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 earnings per share. 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 EPS for the current fiscal year.

Insider Activity at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,500 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total value of $521,075.00. Following the completion of the sale, the director owned 8,792 shares in the company, valued at approximately $1,832,516.56. This trade represents a 22.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total transaction of $2,732,475.42. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 45,500 shares of company stock worth $9,247,071 over the last ninety days. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wedmont Private Capital lifted its holdings in Tenet Healthcare by 2.5% during the 4th quarter. Wedmont Private Capital now owns 2,088 shares of the company’s stock valued at $422,000 after purchasing an additional 50 shares during the last quarter. Sagespring Wealth Partners LLC boosted its holdings in shares of Tenet Healthcare by 3.6% in the 4th quarter. Sagespring Wealth Partners LLC now owns 1,573 shares of the company’s stock worth $313,000 after acquiring an additional 55 shares in the last quarter. Crestwood Advisors Group LLC grew its position in Tenet Healthcare by 2.5% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,606 shares of the company’s stock worth $529,000 after acquiring an additional 64 shares during the last quarter. ProShare Advisors LLC raised its position in Tenet Healthcare by 1.7% in the 2nd quarter. ProShare Advisors LLC now owns 4,118 shares of the company’s stock valued at $725,000 after purchasing an additional 67 shares during the last quarter. Finally, Everpar Advisors LLC grew its holdings in shares of Tenet Healthcare by 5.9% during the fourth quarter. Everpar Advisors LLC now owns 1,230 shares of the company’s stock worth $244,000 after purchasing an additional 68 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.