Leerink Partnrs Research Analysts Lift Earnings Estimates for Tenet Healthcare Co. (NYSE:THC)

Tenet Healthcare Co. (NYSE:THC) – Leerink Partnrs lifted their Q2 2024 earnings estimates for Tenet Healthcare in a report issued on Tuesday, April 30th. Leerink Partnrs analyst W. Mayo now anticipates that the company will post earnings per share of $2.28 for the quarter, up from their prior forecast of $1.49. The consensus estimate for Tenet Healthcare’s current full-year earnings is $8.73 per share. Leerink Partnrs also issued estimates for Tenet Healthcare’s Q3 2024 earnings at $1.82 EPS, Q4 2024 earnings at $2.75 EPS, FY2024 earnings at $10.07 EPS, Q1 2025 earnings at $2.70 EPS, Q2 2025 earnings at $2.68 EPS, Q3 2025 earnings at $2.35 EPS, Q4 2025 earnings at $3.93 EPS, FY2025 earnings at $11.66 EPS and FY2026 earnings at $12.84 EPS.

Several other analysts have also commented on the stock. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Truist Financial reissued a “buy” rating and set a $130.00 price objective (up from $120.00) on shares of Tenet Healthcare in a report on Wednesday. Wolfe Research upgraded Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 target price on the stock in a research note on Wednesday, March 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $104.00 price objective on shares of Tenet Healthcare in a report on Wednesday, April 10th. Finally, Stephens upped their price objective on shares of Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Buy” and a consensus target price of $113.19.

Tenet Healthcare Trading Up 1.1 %

NYSE THC opened at $120.28 on Friday. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 4.67, a PEG ratio of 1.20 and a beta of 2.09. The business’s fifty day moving average is $100.37 and its 200-day moving average is $82.40. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.42. Tenet Healthcare has a one year low of $51.04 and a one year high of $121.72.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 EPS.

Hedge Funds Weigh In On Tenet Healthcare

A number of large investors have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in shares of Tenet Healthcare in the first quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in shares of Tenet Healthcare in the fourth quarter valued at about $52,000. Fidelis Capital Partners LLC purchased a new stake in shares of Tenet Healthcare during the first quarter worth about $78,000. FinTrust Capital Advisors LLC increased its holdings in Tenet Healthcare by 108.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after purchasing an additional 467 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in Tenet Healthcare during the 3rd quarter valued at approximately $67,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the sale, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the transaction, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paola M. Arbour sold 18,168 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now directly owns 29,803 shares in the company, valued at $2,889,698.88. The disclosure for this sale can be found here. Insiders have sold 59,416 shares of company stock worth $5,890,793 in the last ninety days. 0.93% of the stock is currently owned by insiders.

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.