Tenet Healthcare (NYSE:THC – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.580-1.980 for the period. The company issued revenue guidance of $4.9 billion-$5.1 billion. Tenet Healthcare also updated its FY 2024 guidance to 8.370-9.410 EPS.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on THC shares. Cantor Fitzgerald reiterated an overweight rating and issued a $104.00 price target on shares of Tenet Healthcare in a research note on Wednesday, April 10th. Wolfe Research upgraded Tenet Healthcare from a peer perform rating to an outperform rating and set a $122.00 target price on the stock in a research note on Wednesday, March 27th. UBS Group raised their target price on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday. Wells Fargo & Company increased their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Finally, Barclays raised their price target on Tenet Healthcare from $113.00 to $147.00 and gave the stock an overweight rating in a report on Thursday. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $113.19.
View Our Latest Stock Analysis on THC
Tenet Healthcare Trading Up 2.4 %
Tenet Healthcare (NYSE:THC – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 earnings per share. On average, equities analysts anticipate that Tenet Healthcare will post 8.89 EPS for the current year.
Insider Activity
In other news, Director Richard J. Mark sold 14,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Thomas W. Arnst sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $94.84, for a total value of $1,612,280.00. Following the completion of the sale, the executive vice president now directly owns 8,148 shares in the company, valued at $772,756.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,268 shares of company stock valued at $4,944,810. Company insiders own 0.93% of the company’s stock.
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.
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