Tenet Healthcare Corporation (NYSE:THC) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Tenet Healthcare Corporation has received a consensus rating of "Moderate Buy" from analysts, with an average price target of $196.81.
• CEO Saumya Sutaria sold 78,762 shares worth over $15 million, decreasing his ownership by 17.6%, while insider selling totaled 90,722 shares in the last quarter.
• In its most recent earnings report, Tenet posted an EPS of $4.02, exceeding estimates, with a revenue of $5.27 billion, reflecting a 3.2% increase year-over-year.

Shares of Tenet Healthcare Corporation (NYSE:THC - Get Free Report) have received a consensus rating of "Moderate Buy" from the nineteen analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $196.8125.

A number of equities research analysts recently weighed in on THC shares. JPMorgan Chase & Co. boosted their price target on shares of Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Wells Fargo & Company increased their price target on shares of Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Truist Financial upped their target price on shares of Tenet Healthcare from $190.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Guggenheim raised their price objective on shares of Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Wolfe Research cut shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare 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 transaction, the chief executive officer owned 368,683 shares in the company, valued at $70,337,342.74. This trade represents a 17.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher S. Lynch sold 3,952 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the transaction, the director directly owned 12,358 shares in the company, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,722 shares of company stock worth $17,161,015 in the last quarter. 0.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Tenet Healthcare during the 1st quarter worth $212,000. Envestnet Asset Management Inc. increased its stake in Tenet Healthcare by 3.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company's stock worth $27,382,000 after buying an additional 6,424 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Tenet Healthcare by 65.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company's stock worth $189,000 after buying an additional 562 shares during the period. Royal Bank of Canada increased its stake in Tenet Healthcare by 34.0% during the 1st quarter. Royal Bank of Canada now owns 119,349 shares of the company's stock worth $16,052,000 after buying an additional 30,281 shares during the period. Finally, GAMMA Investing LLC increased its stake in Tenet Healthcare by 28.1% during the 1st quarter. GAMMA Investing LLC now owns 1,430 shares of the company's stock worth $192,000 after buying an additional 314 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Performance

NYSE:THC opened at $196.76 on Friday. The firm has a market capitalization of $17.38 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.84 and a beta of 1.55. The business's fifty day moving average price is $176.87 and its 200 day moving average price is $158.98. 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 has a 12 month low of $109.82 and a 12 month 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 the consensus estimate of $2.84 by $1.18. The firm had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.Tenet Healthcare's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, sell-side analysts anticipate that Tenet Healthcare will post 12.24 earnings per share for the current fiscal 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.

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