Tenet Healthcare Co. to Post Q2 2024 Earnings of $2.28 Per Share, Leerink Partnrs Forecasts (NYSE:THC)

Tenet Healthcare Co. (NYSE:THC) – Equities researchers at Leerink Partnrs raised their Q2 2024 EPS estimates for shares of Tenet Healthcare in a research report issued to clients and investors on Tuesday, April 30th. Leerink Partnrs analyst W. Mayo now anticipates that the company will post earnings of $2.28 per share for the quarter, up from their previous estimate 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.

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

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company increased their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Stephens increased their price objective on Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $104.00 target price on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft raised their price target on Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, UBS Group increased their price objective on shares of Tenet Healthcare from $137.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. One research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $113.19.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $120.28 on Friday. Tenet Healthcare has a one year low of $51.04 and a one year high of $121.72. The company has a market capitalization of $11.75 billion, a PE ratio of 4.67, a P/E/G ratio of 1.20 and a beta of 2.09. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.42 and a current ratio of 1.44. The company has a 50-day simple moving average of $100.37 and a two-hundred day simple moving average of $82.40.

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Thomas W. Arnst sold 17,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the sale, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the sale, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the transaction, the executive vice president now owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,416 shares of company stock worth $5,890,793. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its stake in Tenet Healthcare by 324.3% during the 4th quarter. Nordea Investment Management AB now owns 40,066 shares of the company’s stock worth $3,030,000 after buying an additional 30,623 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Tenet Healthcare by 37.3% during the third quarter. First Eagle Investment Management LLC now owns 176,404 shares of the company’s stock worth $11,623,000 after acquiring an additional 47,952 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Tenet Healthcare by 6.0% in the 4th quarter. Bleakley Financial Group LLC now owns 91,159 shares of the company’s stock valued at $6,889,000 after purchasing an additional 5,198 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Tenet Healthcare by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock worth $720,671,000 after purchasing an additional 63,253 shares during the period. Finally, TD Asset Management Inc purchased a new stake in Tenet Healthcare in the 3rd quarter valued at about $1,146,000. 95.44% of the stock is owned by institutional investors and hedge funds.

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.