Cantor Fitzgerald Reaffirms "Overweight" Rating for Tenet Healthcare (NYSE:THC)

Key Points

• Cantor Fitzgerald has reaffirmed an "overweight" rating on Tenet Healthcare (NYSE: THC) with a price target of $190.00, indicating a potential downside of 4.93% from the stock’s previous close.
• Other analysts have also shown strong confidence in the stock, with Morgan Stanley raising their target from $175.00 to $210.00 and Bank of America increasing theirs from $205.00 to $225.00.
• Tenet Healthcare reported earnings of $4.02 per share, significantly exceeding estimates of $2.84, and has set FY 2025 guidance between 15.550-16.210 EPS.

Tenet Healthcare (NYSE:THC - Get Free Report)'s stock had its "overweight" rating restated by stock analysts at Cantor Fitzgerald in a report issued on Tuesday,Benzinga reports. They currently have a $190.00 target price on the stock. Cantor Fitzgerald's price objective points to a potential downside of 4.93% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley lifted their price target on shares of Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Bank of America raised their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Truist Financial increased their target price on shares of Tenet Healthcare from $190.00 to $205.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $199.19.

Tenet Healthcare Trading Down 1.5%

Shares of NYSE:THC opened at $199.86 on Tuesday. Tenet Healthcare has a 1 year low of $109.82 and a 1 year high of $205.99. The stock's fifty day moving average price is $182.72 and its 200-day moving average price is $163.26. The company has a market cap of $17.66 billion, a P/E ratio of 12.80, a PEG ratio of 0.87 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The business had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same period in the previous year, the business earned $2.31 EPS. The company's quarterly revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Sell-side analysts expect that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the sale, the director directly owned 12,358 shares in the company, valued at $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total value of $1,436,240.00. Following the completion of the transaction, the executive vice president owned 20,878 shares of the company's stock, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,722 shares of company stock valued at $17,161,015 over the last ninety days. 0.81% of the stock is owned by insiders.

Institutional Trading of Tenet Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Tenet Healthcare in the first quarter worth about $26,000. Chung Wu Investment Group LLC bought a new position in shares of Tenet Healthcare in the second quarter worth about $35,000. Canada Pension Plan Investment Board purchased a new stake in Tenet Healthcare in the 2nd quarter valued at about $35,000. Wayfinding Financial LLC bought a new position in Tenet Healthcare in the first quarter worth approximately $28,000. Finally, SVB Wealth LLC bought a new stake in Tenet Healthcare during the 1st quarter valued at $30,000. 95.44% of the stock is owned by hedge funds and other 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.

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