Tenet Healthcare Co. to Post FY2022 Earnings of $3.09 Per Share, Jefferies Financial Group Forecasts (NYSE:THC)

Tenet Healthcare Co. (NYSE:THC) – Equities researchers at Jefferies Financial Group issued their FY2022 EPS estimates for shares of Tenet Healthcare in a research note issued to investors on Friday, January 8th. Jefferies Financial Group analyst B. Tanquilut forecasts that the company will post earnings of $3.09 per share for the year. Jefferies Financial Group currently has a “Buy” rating and a $60.00 price target on the stock.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, October 20th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.33. Tenet Healthcare had a negative net margin of 0.28% and a positive return on equity of 82.35%. The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year.

Several other research analysts have also issued reports on the stock. Bank of America upgraded shares of Tenet Healthcare from a “neutral” rating to a “buy” rating and upped their target price for the stock from $45.00 to $50.00 in a research report on Tuesday, January 5th. BidaskClub raised shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Credit Suisse Group boosted their price target on shares of Tenet Healthcare from $39.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, December 11th. Piper Sandler boosted their price target on shares of Tenet Healthcare from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 11th. Finally, ValuEngine raised shares of Tenet Healthcare from a “strong sell” rating to a “sell” rating in a research note on Monday, December 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.89.

Shares of NYSE:THC opened at $45.17 on Monday. Tenet Healthcare has a 52-week low of $10.00 and a 52-week high of $48.11. The firm has a fifty day moving average of $38.84 and a 200 day moving average of $29.56. The firm has a market capitalization of $4.77 billion, a PE ratio of -347.46, a price-to-earnings-growth ratio of 4.15 and a beta of 2.41. The company has a debt-to-equity ratio of 24.85, a quick ratio of 1.36 and a current ratio of 1.42.

Institutional investors have recently bought and sold shares of the business. Twinbeech Capital LP bought a new stake in Tenet Healthcare during the 3rd quarter valued at approximately $752,000. AJO LP lifted its holdings in shares of Tenet Healthcare by 93.5% during the third quarter. AJO LP now owns 130,806 shares of the company’s stock valued at $3,206,000 after purchasing an additional 63,194 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Tenet Healthcare during the second quarter valued at approximately $1,343,000. Principal Financial Group Inc. lifted its holdings in shares of Tenet Healthcare by 18.8% during the second quarter. Principal Financial Group Inc. now owns 471,410 shares of the company’s stock valued at $8,538,000 after purchasing an additional 74,483 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Tenet Healthcare by 0.5% during the second quarter. California State Teachers Retirement System now owns 165,483 shares of the company’s stock valued at $2,997,000 after purchasing an additional 818 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

In other Tenet Healthcare news, EVP Audrey T. Andrews sold 80,758 shares of Tenet Healthcare stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $41.17, for a total transaction of $3,324,806.86. Following the sale, the executive vice president now directly owns 132,416 shares of the company’s stock, valued at approximately $5,451,566.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paola M. Arbour sold 4,100 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, December 17th. The shares were sold at an average price of $41.06, for a total value of $168,346.00. Following the sale, the executive vice president now directly owns 2,626 shares in the company, valued at $107,823.56. The disclosure for this sale can be found here. Insiders sold 1,722,670 shares of company stock worth $69,815,762 over the last three months. 1.70% of the stock is owned by insiders.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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