Bank of America Boosts Tenet Healthcare (NYSE:THC) Price Target to $225.00

Key Points

• Bank of America has raised its price target for Tenet Healthcare (NYSE:THC) to $225.00, suggesting a potential upside of 19.17% from the previous close.
• Despite the positive outlook from Bank of America, other analysts like Wolfe Research downgraded the stock and several others adjusted their ratings, indicating mixed sentiment among analysts.
• Tenet Healthcare recently reported earnings of $4.02 per share, exceeding estimates, with revenues of $5.27 billion, reflecting a 3.2% year-over-year increase.

Tenet Healthcare (NYSE:THC - Free Report) had its price objective increased by Bank of America from $205.00 to $225.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

THC has been the topic of a number of other research reports. Mizuho raised their target price on shares of Tenet Healthcare from $184.00 to $194.00 and gave the company an "outperform" rating in a research report on Friday, July 11th. Raymond James Financial restated an "outperform" rating and issued a $200.00 price target (up from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. Truist Financial raised their price target on shares of Tenet Healthcare from $190.00 to $205.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Guggenheim raised their price target on shares of Tenet Healthcare from $180.00 to $188.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Wolfe Research cut shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $195.50.

Tenet Healthcare Trading Down 2.2%

THC stock traded down $4.33 during trading on Wednesday, hitting $188.49. The company had a trading volume of 455,959 shares, compared to its average volume of 1,500,615. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $16.65 billion, a P/E ratio of 12.07, a PEG ratio of 0.83 and a beta of 1.55. The company has a 50 day simple moving average of $173.91 and a 200-day simple moving average of $155.37. Tenet Healthcare has a 52-week low of $109.82 and a 52-week high of $199.99.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. The business had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The company's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, research analysts forecast that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 78,762 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the completion of the sale, the chief executive officer owned 368,683 shares of the company's stock, valued at approximately $70,337,342.74. The trade was a 17.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Y. Foo sold 8,000 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president directly owned 20,878 shares of the company's stock, valued at approximately $3,748,227.34. The trade was a 27.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,722 shares of company stock worth $17,161,015. Company insiders own 0.81% of the company's stock.

Institutional Investors Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Tenet Healthcare during the first quarter worth about $26,000. Wayfinding Financial LLC acquired a new stake in Tenet Healthcare during the first quarter worth about $28,000. SVB Wealth LLC acquired a new stake in Tenet Healthcare during the first quarter worth about $30,000. N.E.W. Advisory Services LLC purchased a new position in Tenet Healthcare during the first quarter worth about $31,000. Finally, Brooklyn Investment Group boosted its stake in Tenet Healthcare by 908.7% during the first quarter. Brooklyn Investment Group now owns 232 shares of the company's stock worth $31,000 after buying an additional 209 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.