Tenet Healthcare Corporation (NYSE:THC) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Tenet Healthcare Corporation (NYSE:THC) has garnered an average rating of "Moderate Buy" from 19 brokerages covering the stock, with a 12-month price target of $192.69.
• Several analysts have adjusted their price targets for Tenet Healthcare, with Mizuho setting a new target at $194.00 and Bank of America increasing theirs to $180.00.
• Insider trading has seen significant activity, with director Richard W. Fisher selling 836 shares and EVP Paola M. Arbour selling 7,738 shares, indicating a decrease in their positions in the company.

Shares of Tenet Healthcare Corporation (NYSE:THC - Get Free Report) have received an average recommendation of "Moderate Buy" from the nineteen brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $192.6875.

THC has been the topic of a number of research analyst reports. Mizuho increased their target price on Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Wells Fargo & Company increased their target price on Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $190.00 target price on shares of Tenet Healthcare in a report on Tuesday, August 26th. Finally, Wolfe Research lowered Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total value of $697,093.28. Following the sale, the director directly owned 12,358 shares in the company, valued at approximately $2,179,827.62. This trade represents a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the sale, the executive vice president directly owned 20,878 shares in the company, 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 sold 11,960 shares of company stock worth $2,134,801 over the last quarter. 0.81% of the stock is currently owned by company insiders.

Institutional Trading of Tenet Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $26,000. Wayfinding Financial LLC acquired a new position in shares of Tenet Healthcare in the first quarter worth about $28,000. SVB Wealth LLC acquired a new position in shares of Tenet Healthcare in the first quarter worth about $30,000. Colonial Trust Co SC boosted its holdings in shares of Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after buying an additional 114 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Tenet Healthcare in the first quarter worth about $31,000. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Trading Up 2.5%

THC traded up $4.68 on Monday, reaching $191.59. 345,262 shares of the company's stock were exchanged, compared to its average volume of 1,507,057. The company's 50 day moving average is $171.11 and its 200-day moving average is $152.16. The company has a market cap of $16.93 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.79 and a beta of 1.55. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. Tenet Healthcare has a twelve month low of $109.82 and a twelve month high of $191.72.

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

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.