Tenet Healthcare (NYSE:THC) Reaches New 52-Week High - Here's Why

Key Points

• Tenet Healthcare shares reached a new 52-week high of $186.05, indicating strong market performance with a last trade of $185.32.
• Recent analyst ratings show a mix of opinions, with Goldman Sachs setting a target price of $154.00 while Raymond James Financial boosted its target to $200.00.
• The company reported $4.02 earnings per share, significantly exceeding analyst expectations of $2.84, along with revenue of $5.27 billion for the recent quarter.

Tenet Healthcare Corporation (NYSE:THC - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as $186.05 and last traded at $185.32, with a volume of 173810 shares traded. The stock had previously closed at $184.33.

Wall Street Analysts Forecast Growth

THC has been the subject of a number of research reports. Raymond James Financial reiterated an "outperform" rating and set a $200.00 target price (up previously from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. Wells Fargo & Company increased their target price on shares of Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Cantor Fitzgerald restated an "overweight" rating and issued a $190.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, August 26th. Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $192.69.

Tenet Healthcare Trading Up 1.5%

The stock has a market capitalization of $17.27 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 0.80 and a beta of 1.55. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The stock's fifty day moving average price is $171.51 and its two-hundred day moving average price is $152.57.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating the consensus estimate of $2.84 by $1.18. The business had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm'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 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Equities research analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Activity

In related news, EVP Lisa Y. Foo sold 8,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the sale, the executive vice president owned 20,878 shares of the company's stock, valued at $3,748,227.34. The trade was a 27.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher S. Lynch sold 3,952 shares of the firm's 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 trade represents a 24.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,960 shares of company stock worth $2,134,801 in the last three months. 0.81% of the stock is currently owned by insiders.

Institutional Trading of Tenet Healthcare

Several large investors have recently added to or reduced their stakes in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Tenet Healthcare during the 1st quarter valued at $26,000. Wayfinding Financial LLC purchased a new stake in Tenet Healthcare during the first quarter valued at $28,000. SVB Wealth LLC bought a new position in Tenet Healthcare during the 1st quarter valued at about $30,000. Colonial Trust Co SC grew its holdings in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in Tenet Healthcare during the 1st quarter valued at about $31,000. 95.44% of the stock is currently owned by institutional investors.

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.