Analysts’ Weekly Ratings Updates for Tenet Healthcare (THC)

Posted by on Aug 9th, 2023

Several brokerages have updated their recommendations and price targets on shares of Tenet Healthcare (NYSE: THC) in the last few weeks:

  • 8/2/2023 – Tenet Healthcare had its price target raised by analysts at Raymond James from $85.00 to $95.00. They now have a “strong-buy” rating on the stock.
  • 8/2/2023 – Tenet Healthcare had its price target raised by analysts at Credit Suisse Group AG from $92.00 to $98.00. They now have an “outperform” rating on the stock.
  • 8/1/2023 – Tenet Healthcare had its price target raised by analysts at Royal Bank of Canada from $84.00 to $87.00. They now have an “outperform” rating on the stock.
  • 8/1/2023 – Tenet Healthcare had its price target raised by analysts at Stephens from $87.00 to $89.00. They now have an “equal weight” rating on the stock.
  • 8/1/2023 – Tenet Healthcare had its price target raised by analysts at UBS Group AG from $95.00 to $104.00. They now have a “buy” rating on the stock.
  • 8/1/2023 – Tenet Healthcare had its price target raised by analysts at Citigroup Inc. from $83.00 to $90.00. They now have a “buy” rating on the stock.
  • 7/11/2023 – Tenet Healthcare had its price target raised by analysts at Mizuho from $81.00 to $94.00.
  • 6/20/2023 – Tenet Healthcare had its price target raised by analysts at Truist Financial Co. from $84.00 to $92.00.

Tenet Healthcare Price Performance

THC opened at $73.19 on Wednesday. Tenet Healthcare Co. has a 1 year low of $36.69 and a 1 year high of $85.40. The stock has a 50-day moving average price of $77.59 and a 200-day moving average price of $67.28. The company has a debt-to-equity ratio of 5.47, a current ratio of 1.44 and a quick ratio of 1.35. The firm has a market cap of $7.43 billion, a PE ratio of 16.08, a P/E/G ratio of 2.01 and a beta of 2.12.

Tenet Healthcare (NYSE:THC – Get Free Report) last issued its quarterly earnings data on Monday, July 31st. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.18. Tenet Healthcare had a return on equity of 26.60% and a net margin of 2.51%. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.91 billion. During the same period in the prior year, the firm earned $1.50 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Sell-side analysts predict that Tenet Healthcare Co. will post 5.78 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In related news, EVP Paola M. Arbour sold 38,556 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $75.22, for a total transaction of $2,900,182.32. Following the sale, the executive vice president now owns 33,006 shares of the company’s stock, valued at $2,482,711.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Thomas W. Arnst sold 21,178 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $73.12, for a total value of $1,548,535.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paola M. Arbour sold 38,556 shares of Tenet Healthcare stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $75.22, for a total value of $2,900,182.32. Following the transaction, the executive vice president now owns 33,006 shares of the company’s stock, valued at $2,482,711.32. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of THC. Fifth Third Bancorp increased its position in shares of Tenet Healthcare by 22.3% in the second quarter. Fifth Third Bancorp now owns 763 shares of the company’s stock valued at $62,000 after buying an additional 139 shares in the last quarter. CWM LLC increased its position in shares of Tenet Healthcare by 17.0% during the second quarter. CWM LLC now owns 963 shares of the company’s stock worth $78,000 after purchasing an additional 140 shares in the last quarter. US Bancorp DE increased its position in shares of Tenet Healthcare by 14.6% during the first quarter. US Bancorp DE now owns 1,428 shares of the company’s stock worth $123,000 after purchasing an additional 182 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Tenet Healthcare by 46.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock worth $31,000 after purchasing an additional 199 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Tenet Healthcare by 41.3% during the second quarter. Signaturefd LLC now owns 691 shares of the company’s stock worth $56,000 after purchasing an additional 202 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Read More

Receive News & Ratings for Tenet Healthcare Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare Co and related companies with MarketBeat.com's FREE daily email newsletter.