Wells Fargo & Company Issues Positive Forecast for Tenet Healthcare (NYSE:THC) Stock Price

Tenet Healthcare (NYSE:THC) had its price objective lifted by Wells Fargo & Company from $238.00 to $252.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently commented on THC. UBS Group raised their price objective on shares of Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Bank of America boosted their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Truist Financial restated a “buy” rating and issued a $240.00 price target (up from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. Guggenheim boosted their price objective on Tenet Healthcare from $221.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Raymond James Financial set a $245.00 target price on Tenet Healthcare in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.00.

Tenet Healthcare Stock Performance

THC traded down $4.36 during mid-day trading on Thursday, reaching $192.30. 936,644 shares of the company traded hands, compared to its average volume of 1,415,280. The stock has a market capitalization of $16.90 billion, a P/E ratio of 13.18, a P/E/G ratio of 0.89 and a beta of 1.53. Tenet Healthcare has a 52-week low of $109.82 and a 52-week high of $217.43. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. The company’s fifty day moving average price is $198.89 and its 200-day moving average price is $178.33.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the prior year, the business earned $2.93 earnings per share. Tenet Healthcare’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 15.930-16.26 EPS. On average, sell-side analysts expect that Tenet Healthcare will post 12.24 EPS for the current year.

Insider Activity

In other news, EVP Lisa Y. Foo sold 8,000 shares of the 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 transaction, the executive vice president owned 20,878 shares in the company, valued at $3,748,227.34. This trade represents a 27.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Saumya Sutaria sold 78,762 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the completion of the transaction, the chief executive officer directly owned 368,683 shares in the company, valued at $70,337,342.74. This represents a 17.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 134,044 shares of company stock valued at $25,977,997 over the last 90 days. Company insiders own 0.81% of the company’s stock.

Institutional Trading of Tenet Healthcare

Several large investors have recently bought and sold shares of the business. Nuveen LLC purchased a new position in shares of Tenet Healthcare during the 1st quarter worth $218,549,000. Ameriprise Financial Inc. increased its holdings in shares of Tenet Healthcare by 348.4% during the 1st quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company’s stock worth $263,905,000 after buying an additional 1,524,642 shares during the last quarter. Norges Bank acquired a new position in Tenet Healthcare in the second quarter valued at approximately $206,981,000. Boston Partners increased its stake in Tenet Healthcare by 95.0% during the second quarter. Boston Partners now owns 2,267,142 shares of the company’s stock worth $398,949,000 after acquiring an additional 1,104,500 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Tenet Healthcare by 62.3% in the third quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company’s stock valued at $380,989,000 after purchasing an additional 720,160 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

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.