Tenet Healthcare's (THC) "Overweight" Rating Reiterated at Cantor Fitzgerald

Key Points

• Tenet Healthcare has had its "overweight" rating restated by Cantor Fitzgerald with a target price of $190.00, indicating a potential upside of 5.07% from its previous close.
• The company's recent quarterly earnings exceeded expectations, reporting $4.02 EPS, beating the consensus estimate of $2.84 EPS by $1.18.
• Overall, Tenet Healthcare has a consensus rating of "Moderate Buy" with an average target price of $192.69, and a majority of analysts have assigned "Buy" ratings for the stock.

Tenet Healthcare (NYSE:THC - Get Free Report)'s stock had its "overweight" rating restated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $190.00 target price on the stock. Cantor Fitzgerald's price target indicates a potential upside of 5.07% from the stock's previous close.

Several other equities research analysts have also commented on the stock. Barclays reduced their price target on shares of Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Truist Financial boosted their price objective on Tenet Healthcare from $190.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group boosted their price objective on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Royal Bank Of Canada boosted their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Robert W. Baird cut their price objective on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $192.69.

Tenet Healthcare Stock Performance

Shares of NYSE THC traded up $0.61 during midday trading on Tuesday, hitting $180.84. 19,077 shares of the company's stock traded hands, compared to its average volume of 1,528,771. Tenet Healthcare has a 1 year low of $109.82 and a 1 year high of $185.25. The stock has a market capitalization of $15.98 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 0.77 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. The firm has a fifty day moving average of $168.99 and a 200 day moving average of $149.98.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly 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. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The business'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, analysts forecast that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Activity

In other news, Director Richard W. Fisher sold 836 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $173.16, for a total transaction of $144,761.76. Following the completion of the transaction, the director directly owned 11,292 shares in the company, valued at approximately $1,955,322.72. This represents a 6.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paola M. Arbour sold 7,738 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the transaction, the executive vice president owned 20,110 shares of the company's stock, valued at $3,479,030. This represents a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,139 shares of company stock worth $4,400,979. 0.81% of the stock is owned by corporate insiders.

Institutional Trading of Tenet Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in Tenet Healthcare by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock valued at $1,021,736,000 after buying an additional 463,552 shares during the period. Boston Partners raised its holdings in Tenet Healthcare by 95.0% during the 2nd quarter. Boston Partners now owns 2,267,142 shares of the company's stock valued at $398,949,000 after buying an additional 1,104,500 shares during the period. Ameriprise Financial Inc. increased its stake in Tenet Healthcare by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company's stock worth $373,020,000 after purchasing an additional 157,109 shares during the period. Dimensional Fund Advisors LP increased its stake in Tenet Healthcare by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock worth $225,297,000 after purchasing an additional 181,667 shares during the period. Finally, Nuveen LLC purchased a new stake in Tenet Healthcare in the first quarter worth $218,549,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

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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