Tenet Healthcare (NYSE:THC) Reaches New 52-Week High – Here’s Why

Tenet Healthcare Corporation (NYSE:THC) reached a new 52-week high on Friday . The company traded as high as $205.23 and last traded at $204.00, with a volume of 50247 shares trading hands. The stock had previously closed at $203.38.

Analyst Upgrades and Downgrades

THC has been the topic of a number of research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Tenet Healthcare in a research report on Saturday, September 27th. Wall Street Zen raised Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Truist Financial raised their price objective on Tenet Healthcare from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Barclays raised their price objective on Tenet Healthcare from $208.00 to $229.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Finally, Morgan Stanley raised their price objective on Tenet Healthcare from $175.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.81.

Tenet Healthcare Stock Down 0.2%

The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. The company has a market capitalization of $17.93 billion, a P/E ratio of 12.99, a PEG ratio of 0.87 and a beta of 1.52. The company has a 50 day moving average of $181.85 and a 200-day moving average of $162.47.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $1.18. The company had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.Tenet Healthcare’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the sale, the director directly owned 12,358 shares of the company’s stock, valued at approximately $2,179,827.62. The trade was a 24.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the sale, the executive vice president directly owned 20,878 shares in the company, valued at approximately $3,748,227.34. The trade was a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,722 shares of company stock valued at $17,161,015. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenet Healthcare

Hedge funds have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $26,000. Wayfinding Financial LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $30,000. N.E.W. Advisory Services LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $31,000. Finally, Brooklyn Investment Group boosted its position in shares of Tenet Healthcare by 908.7% in the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock worth $31,000 after purchasing an additional 209 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

About Tenet Healthcare

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.