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

by · The Markets Daily

Tenet Healthcare (NYSE:THC – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

A number of other research firms also recently commented on THC. Mizuho lifted their target price on shares of Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Wells Fargo & Company dropped their target price on Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. TD Cowen dropped their price target on shares of Tenet Healthcare from $233.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. The Goldman Sachs Group started coverage on Tenet Healthcare in a report on Tuesday, October 14th. They issued a “buy” rating and a $224.00 target price on the stock. Finally, Barclays raised their price objective on Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $233.81.

Read Our Latest Stock Analysis on Tenet Healthcare

Tenet Healthcare Stock Down 2.3%

NYSE:THC opened at $196.71 on Friday. The firm’s 50-day moving average price is $201.59 and its 200-day moving average price is $191.11. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64. Tenet Healthcare has a 1-year low of $109.82 and a 1-year high of $222.82. The company has a market capitalization of $17.29 billion, a PE ratio of 13.48, a P/E/G ratio of 0.84 and a beta of 1.41.

Tenet Healthcare (NYSE:THC – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.93 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. On average, equities analysts predict that Tenet Healthcare will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director Nadja West sold 2,178 shares of Tenet Healthcare stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $197.47, for a total value of $430,089.66. Following the sale, the director owned 28,480 shares of the company’s stock, valued at $5,623,945.60. The trade was a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard W. Fisher sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total transaction 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 position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 45,500 shares of company stock worth $9,247,071. 0.81% of the stock is owned by corporate insiders.

Institutional Trading of Tenet Healthcare

Large investors have recently made changes to their positions in the stock. Triumph Capital Management bought a new position in Tenet Healthcare in the third quarter worth approximately $25,000. William B. Walkup & Associates Inc. acquired a new position in Tenet Healthcare during the 3rd quarter valued at approximately $32,000. Chung Wu Investment Group LLC acquired a new position in Tenet Healthcare in the 2nd quarter worth approximately $35,000. Canada Pension Plan Investment Board acquired a new stake in Tenet Healthcare during the 2nd quarter valued at approximately $35,000. Finally, Westside Investment Management Inc. lifted its position in Tenet Healthcare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock valued at $39,000 after purchasing an additional 96 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

About Tenet Healthcare

(Get Free Report)

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.

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