Tenet Healthcare Co. (NYSE:THC - Free Report) - Equities researchers at Zacks Research raised their Q2 2024 EPS estimates for Tenet Healthcare in a research note issued to investors on Tuesday, May 14th. Zacks Research analyst D. Chatterjee now expects that the company will earn $1.76 per share for the quarter, up from their previous estimate of $1.30. The consensus estimate for Tenet Healthcare's current full-year earnings is $8.73 per share. Zacks Research also issued estimates for Tenet Healthcare's Q3 2024 earnings at $1.52 EPS, FY2024 earnings at $8.62 EPS, Q1 2025 earnings at $2.05 EPS, Q3 2025 earnings at $1.47 EPS and Q4 2025 earnings at $1.98 EPS.
A number of other research firms also recently commented on THC. TheStreet upgraded shares of Tenet Healthcare from a "c+" rating to a "b-" rating in a report on Tuesday, February 6th. UBS Group increased their price objective on shares of Tenet Healthcare from $137.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price target on shares of Tenet Healthcare from $109.00 to $136.00 and gave the stock an "outperform" rating in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, April 12th. Finally, Stephens raised their price target on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Tenet Healthcare currently has a consensus rating of "Buy" and a consensus price target of $113.19.
Check Out Our Latest Stock Report on THC
Tenet Healthcare Price Performance
Tenet Healthcare stock traded down $5.09 during midday trading on Thursday, reaching $127.88. The company had a trading volume of 1,436,284 shares, compared to its average volume of 1,231,276. The company has a market capitalization of $12.49 billion, a P/E ratio of 4.99, a P/E/G ratio of 1.28 and a beta of 2.09. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.37. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $133.17. The firm's fifty day simple moving average is $105.70 and its 200-day simple moving average is $86.60.
Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $1.77. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The company's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 EPS.
Hedge Funds Weigh In On Tenet Healthcare
Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Tenet Healthcare during the 3rd quarter worth approximately $152,000. TD Asset Management Inc purchased a new position in shares of Tenet Healthcare during the third quarter worth about $1,146,000. Allspring Global Investments Holdings LLC increased its position in Tenet Healthcare by 94.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,643 shares of the company's stock valued at $372,000 after acquiring an additional 2,741 shares during the period. Teacher Retirement System of Texas raised its position in Tenet Healthcare by 163.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 80,681 shares of the company's stock worth $5,316,000 after buying an additional 50,067 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. boosted its holdings in shares of Tenet Healthcare by 1.3% in the third quarter. Mesirow Institutional Investment Management Inc. now owns 172,422 shares of the company's stock valued at $11,361,000 after acquiring an additional 2,241 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.
Insiders Place Their Bets
In other Tenet Healthcare news, Director Nadja West sold 1,782 shares of the business's stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $126.41, for a total value of $225,262.62. Following the completion of the transaction, the director now owns 29,680 shares in the company, valued at $3,751,848.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Nadja West sold 1,782 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $126.41, for a total value of $225,262.62. Following the transaction, the director now owns 29,680 shares of the company's stock, valued at $3,751,848.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas W. Arnst sold 17,000 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $94.84, for a total value of $1,612,280.00. Following the transaction, the executive vice president now directly owns 8,148 shares of the company's stock, valued at $772,756.32. The disclosure for this sale can be found here. Insiders sold a total of 61,598 shares of company stock worth $6,238,815 over the last 90 days. Corporate insiders own 0.93% of the company's stock.
About Tenet Healthcare
(
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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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