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 EPS guidance of 2.690-3.310 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

A number of brokerages have recently weighed in on THC. UBS Group upped their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald raised their target price on Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group boosted their price target on Tenet Healthcare from $173.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday. KeyCorp assumed coverage on Tenet Healthcare in a research report on Friday, October 11th. They issued an “overweight” rating and a $200.00 target price on the stock. Finally, Truist Financial reaffirmed a “buy” rating and set a $190.00 price target (up from $180.00) on shares of Tenet Healthcare in a report on Wednesday. One research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $163.65.

Tenet Healthcare Trading Down 1.4 %

Shares of NYSE:THC traded down $2.22 during trading on Thursday, reaching $155.86. The stock had a trading volume of 762,570 shares, compared to its average volume of 1,207,360. Tenet Healthcare has a 52 week low of $51.04 and a 52 week high of $171.20. The firm’s fifty day moving average is $159.66 and its 200 day moving average is $141.59. The stock has a market cap of $14.93 billion, a price-to-earnings ratio of 5.80, a P/E/G ratio of 0.71 and a beta of 2.14. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.38 and a current ratio of 1.45.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.66% and a net margin of 13.17%. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the business earned $1.44 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts forecast that Tenet Healthcare will post 10.72 EPS for the current fiscal year.

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

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 86,227 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total transaction of $13,314,311.07. Following the completion of the sale, the chief executive officer now directly owns 13,773 shares of the company’s stock, valued at approximately $2,126,688.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tenet Healthcare news, Director Meghan Fitzgerald sold 20,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $146.34, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Saumya Sutaria sold 86,227 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $154.41, for a total value of $13,314,311.07. Following the completion of the transaction, the chief executive officer now owns 13,773 shares in the company, valued at $2,126,688.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,203 shares of company stock valued at $19,754,997. 0.93% of the stock is owned by company 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.