TD Cowen Lowers Tenet Healthcare (NYSE:THC) Price Target to $230.00

Tenet Healthcare (NYSE:THC) had its price target cut by analysts at TD Cowen from $233.00 to $230.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 13.14% from the company’s previous close.

A number of other research firms have also recently issued reports on THC. Wells Fargo & Company set a $229.00 target price on Tenet Healthcare in a research note on Wednesday. Weiss Ratings raised shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Bank of America lifted their price target on Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Truist Financial restated a “buy” rating and issued a $240.00 target price (up from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. Finally, UBS Group raised their price target on Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $233.81.

Tenet Healthcare Trading Down 2.4%

Shares of THC stock traded down $4.96 during trading hours on Wednesday, hitting $203.28. 469,207 shares of the company were exchanged, compared to its average volume of 858,597. Tenet Healthcare has a 1 year low of $109.82 and a 1 year high of $222.82. The firm has a fifty day moving average of $202.55 and a 200 day moving average of $189.40. The firm has a market cap of $17.87 billion, a PE ratio of 13.93, a PEG ratio of 0.88 and a beta of 1.41. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.27.

Tenet Healthcare (NYSE:THC) last posted its quarterly 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. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. Tenet Healthcare’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Analysts expect that Tenet Healthcare will post 12.24 earnings per share for the current year.

Insider Buying and Selling

In other Tenet Healthcare news, insider R. Scott Ramsey sold 13,322 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total value of $2,732,475.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total value of $521,075.00. Following the completion of the transaction, the director owned 8,792 shares of the company’s stock, valued at $1,832,516.56. The trade was a 22.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 45,500 shares of company stock valued at $9,247,071 in the last three months. 0.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several large investors have recently bought and sold shares of THC. Norges Bank bought a new stake in Tenet Healthcare during the second quarter valued at $206,981,000. Eminence Capital LP bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth $225,263,000. Boston Partners increased its stake in shares of Tenet Healthcare by 95.0% during the 2nd quarter. Boston Partners now owns 2,267,142 shares of the company’s stock worth $398,949,000 after purchasing an additional 1,104,500 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Tenet Healthcare by 62.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company’s stock valued at $380,989,000 after buying an additional 720,160 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Tenet Healthcare by 375.7% in the 2nd quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock worth $139,085,000 after acquiring an additional 624,125 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Company Profile

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.