Tenet Healthcare (NYSE:THC) Receives Hold (C+) Rating from Weiss Ratings

Key Points

• Tenet Healthcare has received a "Hold (C+)" rating from Weiss Ratings, while various analysts have also provided mixed ratings ranging from "Strong Buy" to "Hold."
• The stock recently traded down 2.2% to $200.33, with a market capitalization of approximately $17.70 billion and a current P/E ratio of 12.83.
• CEO Saumya Sutaria sold over 78,000 shares for approximately $15 million, reducing their ownership by 17.60%, amidst insider trading activity that saw a total of 90,722 shares sold in the last quarter.

Tenet Healthcare (NYSE:THC - Get Free Report)'s stock had its "hold (c+)" rating restated by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

THC has been the subject of a number of other reports. Guggenheim boosted their target price on shares of Tenet Healthcare from $180.00 to $188.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Bank of America upped their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Raymond James Financial reaffirmed an "outperform" rating and set a $200.00 price target (up previously from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. KeyCorp raised their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Robert W. Baird dropped their price target on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and an average target price of $201.69.

Tenet Healthcare Trading Down 2.2%

NYSE:THC traded down $4.50 during midday trading on Wednesday, hitting $200.33. 831,805 shares of the company traded hands, compared to its average volume of 1,466,183. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. Tenet Healthcare has a 12-month low of $109.82 and a 12-month high of $207.14. The firm has a market capitalization of $17.70 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.85 and a beta of 1.52. The firm's fifty day moving average is $183.68 and its 200-day moving average is $163.55.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, sell-side analysts predict that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Activity at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 78,762 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the sale, the chief executive officer owned 368,683 shares of the company's stock, valued at $70,337,342.74. This trade represents a 17.60% decrease in their ownership of the stock. 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 dated Tuesday, August 19th. The shares were 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. The trade was 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 valued at $17,161,015 over the last quarter. 0.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenet Healthcare

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

About Tenet Healthcare

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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