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

Tenet Healthcare (NYSE:THC) had its target price cut by TD Cowen from $233.00 to $230.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on THC. Bank of America boosted their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Royal Bank Of Canada increased their price target on Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. The Goldman Sachs Group began coverage on Tenet Healthcare in a research note on Tuesday, October 14th. They set a “buy” rating and a $224.00 price objective for the company. Raymond James Financial set a $245.00 target price on Tenet Healthcare in a report on Wednesday, October 29th. Finally, Zacks Research cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average price target of $233.81.

Tenet Healthcare Stock Down 0.9%

NYSE THC opened at $201.46 on Wednesday. The stock has a market capitalization of $17.71 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 0.86 and a beta of 1.41. Tenet Healthcare has a 52 week low of $109.82 and a 52 week high of $222.82. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.64 and a current ratio of 1.71. The stock has a fifty day moving average of $202.22 and a 200-day moving average of $189.81.

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

Insiders Place Their Bets

In related news, Director Nadja West sold 2,178 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $197.47, for a total value 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. The trade was a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tammy Romo sold 645 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $205.20, for a total value of $132,354.00. Following the transaction, the director owned 34,866 shares of the company’s stock, valued at approximately $7,154,503.20. This trade represents a 1.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,500 shares of company stock valued at $9,247,071 in the last quarter. 0.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Triumph Capital Management bought a new stake in Tenet Healthcare in the 3rd quarter valued at approximately $25,000. William B. Walkup & Associates Inc. bought a new stake in shares of Tenet Healthcare in the third quarter worth $32,000. Westside Investment Management Inc. grew its position in Tenet Healthcare by 100.0% in 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 in the last quarter. Chung Wu Investment Group LLC acquired a new stake in Tenet Healthcare in the 2nd quarter valued at $35,000. Finally, Trust Co. of Vermont acquired a new position in shares of Tenet Healthcare during the 3rd quarter worth about $41,000. 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.