Q3 2024 EPS Estimates for Tenet Healthcare Co. Boosted by Zacks Research (NYSE:THC)

Tenet Healthcare Co. (NYSE:THC) – Zacks Research raised their Q3 2024 EPS estimates for Tenet Healthcare in a report issued on Wednesday, August 7th. Zacks Research analyst D. Chatterjee now anticipates that the company will post earnings per share of $2.25 for the quarter, up from their prior forecast of $1.52. The consensus estimate for Tenet Healthcare’s current full-year earnings is $10.68 per share. Zacks Research also issued estimates for Tenet Healthcare’s Q4 2024 earnings at $2.69 EPS, FY2024 earnings at $10.47 EPS, Q1 2025 earnings at $2.37 EPS, Q2 2025 earnings at $2.26 EPS, Q3 2025 earnings at $2.20 EPS, Q4 2025 earnings at $2.83 EPS, FY2025 earnings at $9.66 EPS, Q1 2026 earnings at $3.03 EPS, Q2 2026 earnings at $2.80 EPS and FY2026 earnings at $12.40 EPS.

A number of other equities research analysts also recently issued reports on the company. Wells Fargo & Company boosted their price target on Tenet Healthcare from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Baird R W raised shares of Tenet Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Robert W. Baird assumed coverage on shares of Tenet Healthcare in a research report on Thursday, May 30th. They set an “outperform” rating and a $153.00 price target on the stock. UBS Group raised their target price on shares of Tenet Healthcare from $137.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Citigroup upped their price target on shares of Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare has a consensus rating of “Buy” and an average target price of $149.75.

Tenet Healthcare Trading Down 0.0 %

THC stock opened at $150.06 on Friday. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $155.00. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 0.76 and a beta of 2.15. The company has a quick ratio of 1.38, a current ratio of 1.45 and a debt-to-equity ratio of 2.53. The business has a fifty day simple moving average of $138.28 and a 200-day simple moving average of $115.64.

Hedge Funds Weigh In On Tenet Healthcare

Several large investors have recently added to or reduced their stakes in THC. Innealta Capital LLC acquired a new position in Tenet Healthcare in the second quarter valued at approximately $28,000. Rise Advisors LLC acquired a new position in Tenet Healthcare during the 1st quarter valued at about $29,000. ORG Partners LLC acquired a new stake in Tenet Healthcare in the second quarter worth about $31,000. Blue Trust Inc. boosted its stake in Tenet Healthcare by 93.0% during the second quarter. Blue Trust Inc. now owns 249 shares of the company’s stock valued at $33,000 after buying an additional 120 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Tenet Healthcare by 759.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company’s stock valued at $48,000 after purchasing an additional 319 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Christopher S. Lynch sold 10,861 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the sale, the director now directly owns 14,759 shares in the company, valued at approximately $1,975,196.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tenet Healthcare news, Director Christopher S. Lynch sold 10,861 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the completion of the transaction, the director now directly owns 14,759 shares of the company’s stock, valued at approximately $1,975,196.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the completion of the sale, the director now owns 15,269 shares in the company, valued at approximately $2,234,465.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,261 shares of company stock valued at $4,565,464. Insiders own 0.93% of the company’s stock.

Tenet Healthcare announced that its board has approved a stock repurchase plan on Wednesday, July 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to purchase up to 10.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.