Tenet Healthcare (NYSE:THC) Issues Q4 2024 Earnings Guidance

Tenet Healthcare (NYSE:THC) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.690-3.310 for the period, compared to the consensus estimate of 2.880. The company issued revenue guidance of $5.0 billion-$5.2 billion, compared to the consensus revenue estimate of $5.3 billion. Tenet Healthcare also updated its FY 2024 guidance to 11.120-11.730 EPS.

Analysts Set New Price Targets

THC has been the subject of several research reports. Citigroup raised their price objective on Tenet Healthcare from $139.00 to $171.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. KeyCorp began coverage on shares of Tenet Healthcare in a research report on Friday, October 11th. They issued an “overweight” rating and a $200.00 price target for the company. UBS Group raised their target price on Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $190.00 price target (up previously from $180.00) on shares of Tenet Healthcare in a research report on Wednesday. Finally, Barclays increased their price objective on Tenet Healthcare from $156.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Buy” and a consensus price target of $163.65.

Tenet Healthcare Trading Up 1.0 %

Shares of NYSE THC opened at $156.57 on Friday. 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 company has a market cap of $14.89 billion, a PE ratio of 4.97, a P/E/G ratio of 0.72 and a beta of 2.14. The company has a 50-day moving average of $159.55 and a two-hundred day moving average of $141.69. Tenet Healthcare has a 1-year low of $52.08 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 EPS. As a group, equities analysts expect that Tenet Healthcare will post 11.38 earnings per share for the current fiscal year.

Tenet Healthcare declared that its board has authorized a stock repurchase program on Wednesday, July 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to repurchase up to 10.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Meghan Fitzgerald sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $146.34, for a total transaction of $2,926,800.00. Following the sale, the director now owns 15,269 shares in the company, valued at approximately $2,234,465.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tenet Healthcare news, CEO Saumya Sutaria sold 86,227 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 13,773 shares in the company, valued at $2,126,688.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Meghan Fitzgerald sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 15,269 shares of the company’s stock, valued at approximately $2,234,465.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,203 shares of company stock worth $19,754,997. 0.93% of the stock is 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.