Tenet Healthcare (NYSE:THC) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Tenet Healthcare (NYSE:THC) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday morning.

Several other research firms also recently issued reports on THC. Cantor Fitzgerald upped their price objective on Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Morgan Stanley restated an “overweight” rating and issued a $247.00 price target on shares of Tenet Healthcare in a research report on Thursday, December 18th. Royal Bank Of Canada lifted their price target on shares of Tenet Healthcare from $230.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Mizuho increased their price objective on Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Guggenheim upped their price target on Tenet Healthcare from $238.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and a consensus price target of $233.81.

Tenet Healthcare Trading Down 1.8%

Shares of Tenet Healthcare stock opened at $193.27 on Friday. The firm has a market capitalization of $16.99 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.84 and a beta of 1.41. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.27. The firm’s 50 day moving average is $201.49 and its 200 day moving average is $191.26. Tenet Healthcare has a 1 year low of $109.82 and a 1 year high of $222.82.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the previous year, the firm posted $2.93 earnings per share. The company’s 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. Equities research analysts forecast that Tenet Healthcare will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard W. Fisher sold 2,500 shares of the company’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $208.43, for a total transaction of $521,075.00. Following the sale, the director owned 8,792 shares in the company, valued at $1,832,516.56. This represents a 22.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nadja West sold 2,178 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the sale, the director directly owned 28,480 shares of the company’s stock, valued at approximately $5,623,945.60. This trade represents a 7.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 45,500 shares of company stock worth $9,247,071 in the last quarter. 0.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in THC. AlphaQuest LLC raised its holdings in shares of Tenet Healthcare by 230.8% during the 2nd quarter. AlphaQuest LLC now owns 1,763 shares of the company’s stock valued at $310,000 after buying an additional 1,230 shares in the last quarter. 111 Capital bought a new position in Tenet Healthcare during the second quarter valued at approximately $244,000. Cerity Partners LLC lifted its holdings in shares of Tenet Healthcare by 10.4% in the 2nd quarter. Cerity Partners LLC now owns 120,623 shares of the company’s stock worth $21,230,000 after acquiring an additional 11,395 shares during the last quarter. Goldentree Asset Management LP purchased a new stake in shares of Tenet Healthcare in the 2nd quarter valued at $31,471,000. Finally, Leith Wheeler Investment Counsel Ltd. raised its position in Tenet Healthcare by 22.2% in the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,813 shares of the company’s stock worth $14,575,000 after purchasing an additional 15,019 shares during the period. 95.44% of the stock is owned by institutional investors.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.