Tenet Healthcare (NYSE:THC) Shares Gap Up – Here’s What Happened

Tenet Healthcare Corporation (NYSE:THC) shares gapped up before the market opened on Monday . The stock had previously closed at $191.96, but opened at $202.35. Tenet Healthcare shares last traded at $204.33, with a volume of 265,474 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Guggenheim increased their price target on shares of Tenet Healthcare from $221.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Cantor Fitzgerald upped their target price on Tenet Healthcare from $190.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Morgan Stanley set a $232.00 price objective on shares of Tenet Healthcare and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. KeyCorp raised their price target on Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Finally, Barclays upped their price objective on Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average target price of $229.69.

Tenet Healthcare Stock Performance

The firm has a market cap of $18.82 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.53. The business’s fifty day simple moving average is $198.72 and its 200-day simple moving average is $180.35. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.27.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.37. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period last year, the firm earned $2.93 earnings per share. Tenet Healthcare’s quarterly revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, sell-side analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In related news, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $205.11, for a total value of $2,732,475.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard W. Fisher sold 2,500 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total value of $521,075.00. Following the sale, the director directly owned 8,792 shares in the company, valued at approximately $1,832,516.56. The trade was a 22.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 122,092 shares of company stock worth $23,844,663. 0.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in THC. Triumph Capital Management purchased a new position in Tenet Healthcare during the third quarter valued at $25,000. SVB Wealth LLC purchased a new position in Tenet Healthcare during the 1st quarter valued at about $30,000. N.E.W. Advisory Services LLC purchased a new stake in Tenet Healthcare in the first quarter worth about $31,000. Brooklyn Investment Group increased its stake in shares of Tenet Healthcare by 908.7% during the first quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock valued at $31,000 after purchasing an additional 209 shares in the last quarter. Finally, William B. Walkup & Associates Inc. purchased a new position in shares of Tenet Healthcare during the third quarter valued at approximately $32,000. 95.44% of the stock is 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.