Tenet Healthcare (NYSE:THC) Sets New 1-Year High - What's Next?

Key Points

• Tenet Healthcare's stock reached a new 52-week high of $200.19 during trading, with a current price approximately at $198.13.
• Analyst upgrades include recommendations from UBS and Stephens, with price targets raised to as high as $238.00.
• The company reported $4.02 EPS for its last quarter, exceeding estimates significantly and reflecting a 3.2% year-over-year revenue increase.

Shares of Tenet Healthcare Corporation (NYSE:THC - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $200.19 and last traded at $198.13, with a volume of 131762 shares. The stock had previously closed at $196.72.

Analyst Upgrades and Downgrades

THC has been the topic of several research reports. UBS Group raised their price objective on Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Stephens raised Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Guggenheim raised their price target on Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, Wells Fargo & Company raised their price target on Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $196.81.

Tenet Healthcare Price Performance

The stock has a fifty day simple moving average of $176.87 and a two-hundred day simple moving average of $158.98. The company has a market cap of $17.47 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 0.84 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.

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 for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The company had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same quarter in the previous year, the company earned $2.31 EPS. The firm's revenue for the quarter 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, equities analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction that occurred on 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. The trade was a 27.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare stock in a transaction that occurred 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 transaction, the director owned 12,358 shares of the company's stock, valued at $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,722 shares of company stock valued at $17,161,015 in the last quarter. 0.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $26,000. Chung Wu Investment Group LLC acquired a new position in Tenet Healthcare in the 2nd quarter valued at $35,000. Canada Pension Plan Investment Board acquired a new position in Tenet Healthcare in the 2nd quarter valued at $35,000. Wayfinding Financial LLC acquired a new position in Tenet Healthcare in the 1st quarter valued at $28,000. Finally, SVB Wealth LLC acquired a new position in Tenet Healthcare in the 1st quarter valued at $30,000. 95.44% of the stock is currently 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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