FY2024 Earnings Estimate for THC Issued By Leerink Partnrs

Tenet Healthcare Co. (NYSE:THC) – Stock analysts at Leerink Partnrs increased their FY2024 earnings per share estimates for shares of Tenet Healthcare in a research report issued to clients and investors on Tuesday, October 29th. Leerink Partnrs analyst W. Mayo now forecasts that the company will post earnings of $11.51 per share for the year, up from their prior estimate of $10.87. The consensus estimate for Tenet Healthcare’s current full-year earnings is $11.38 per share. Leerink Partnrs also issued estimates for Tenet Healthcare’s Q4 2024 earnings at $3.08 EPS, Q3 2025 earnings at $2.92 EPS, FY2025 earnings at $12.81 EPS and FY2026 earnings at $14.88 EPS.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.60. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS.

Several other brokerages have also weighed in on THC. Truist Financial reaffirmed a “buy” rating and issued a $190.00 target price (up from $180.00) on shares of Tenet Healthcare in a research report on Wednesday. UBS Group upped their price target on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup upped their price target on Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Raymond James increased their target price on Tenet Healthcare from $130.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group increased their target price on Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $163.65.

Tenet Healthcare Stock Up 0.7 %

NYSE:THC opened at $156.13 on Thursday. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 5.00, a PEG ratio of 0.72 and a beta of 2.14. Tenet Healthcare has a 1-year low of $52.08 and a 1-year high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 2.35. The business’s fifty day moving average price is $159.38 and its 200 day moving average price is $142.08.

Institutional Trading of Tenet Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in Tenet Healthcare during the second quarter valued at $28,000. ORG Wealth Partners LLC purchased a new stake in Tenet Healthcare in the 3rd quarter valued at about $30,000. ORG Partners LLC purchased a new stake in Tenet Healthcare in the 2nd quarter valued at about $31,000. Blue Trust Inc. boosted its holdings in Tenet Healthcare by 93.0% in the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company’s stock worth $33,000 after buying an additional 120 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in Tenet Healthcare in the 2nd quarter worth approximately $34,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 4,000 shares of Tenet Healthcare stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the transaction, the executive vice president now owns 15,566 shares in the company, valued at approximately $2,427,362.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Lisa Y. Foo sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Saumya Sutaria sold 86,227 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the transaction, the chief executive officer now owns 13,773 shares of the company’s stock, valued at approximately $2,126,688.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,203 shares of company stock valued at $20,378,757. 0.93% of the stock is owned by insiders.

Tenet Healthcare declared that its board has approved a stock buyback program on Wednesday, July 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to purchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management 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.