Tenet Healthcare (NYSE:THC) Reaches New 52-Week High - Time to Buy?

Key Points

• Tenet Healthcare's stock reached a new 52-week high of $205.23 during trading, showcasing strong market performance with a last trade at $204.00.
• Several analysts have adjusted their price targets for Tenet Healthcare, with Barclays setting an optimistic target of $229.00, while Robert W. Baird lowered theirs to $167.00.
• The company reported quarterly earnings of $4.02 EPS, exceeding estimates significantly and achieving revenue of $5.27 billion, marking a year-over-year increase of 3.2%.

Tenet Healthcare Corporation (NYSE:THC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $205.23 and last traded at $204.00, with a volume of 50247 shares trading hands. The stock had previously closed at $203.38.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Guggenheim lifted their target price on Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Robert W. Baird decreased their price objective on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. Barclays lifted their target price on shares of Tenet Healthcare from $208.00 to $229.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. Wells Fargo & Company boosted their price objective on Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Wolfe Research lowered Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $196.81.

Tenet Healthcare Stock Performance

The firm has a market cap of $17.93 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 0.86 and a beta of 1.52. 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 stock has a 50 day moving average of $180.85 and a 200 day moving average of $161.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.16 billion. During the same quarter last year, the business posted $2.31 EPS. The firm'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. As a group, analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 8,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 20,878 shares in the company, valued at $3,748,227.34. This trade represents a 27.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction that occurred 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 sale, the director directly owned 12,358 shares of the company's stock, valued at $2,179,827.62. This represents a 24.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,722 shares of company stock worth $17,161,015. Corporate insiders own 0.81% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aaron Wealth Advisors LLC bought a new stake in Tenet Healthcare in the third quarter worth approximately $388,000. GAMMA Investing LLC grew its holdings in Tenet Healthcare by 9.5% in the third quarter. GAMMA Investing LLC now owns 2,037 shares of the company's stock worth $414,000 after purchasing an additional 177 shares during the period. Corient Private Wealth LLC increased its stake in Tenet Healthcare by 46.9% in the second quarter. Corient Private Wealth LLC now owns 3,958 shares of the company's stock valued at $697,000 after purchasing an additional 1,264 shares in the last quarter. Osaic Holdings Inc. raised its stake in Tenet Healthcare by 14.7% during the 2nd quarter. Osaic Holdings Inc. now owns 12,667 shares of the company's stock worth $2,176,000 after buying an additional 1,622 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in Tenet Healthcare by 22.8% in the second quarter. China Universal Asset Management Co. Ltd. now owns 9,000 shares of the company's stock valued at $1,584,000 after acquiring an additional 1,669 shares during the period. 95.44% of the stock is 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.

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