Q1 2024 Earnings Forecast for Tenet Healthcare Co. Issued By Leerink Partnrs (NYSE:THC)

Tenet Healthcare Co. (NYSE:THCFree Report) – Research analysts at Leerink Partnrs lifted their Q1 2024 earnings estimates for shares of Tenet Healthcare in a research report issued to clients and investors on Friday, February 9th. Leerink Partnrs analyst W. Mayo now expects that the company will earn $1.53 per share for the quarter, up from their previous forecast of $1.34. The consensus estimate for Tenet Healthcare’s current full-year earnings is $6.22 per share. Leerink Partnrs also issued estimates for Tenet Healthcare’s Q2 2024 earnings at $1.49 EPS, Q3 2024 earnings at $1.08 EPS, Q4 2024 earnings at $2.21 EPS and FY2024 earnings at $6.31 EPS.

Several other analysts also recently issued reports on the stock. Mizuho upped their price objective on shares of Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, December 16th. Jefferies Financial Group reduced their price target on shares of Tenet Healthcare from $95.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, November 14th. Wells Fargo & Company reduced their price target on shares of Tenet Healthcare from $83.00 to $71.00 and set an “overweight” rating for the company in a report on Friday, October 20th. Finally, Raymond James reduced their price target on shares of Tenet Healthcare from $95.00 to $90.00 and set a “strong-buy” rating for the company in a report on Wednesday, November 1st. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $92.47.

Check Out Our Latest Stock Report on Tenet Healthcare

Tenet Healthcare Price Performance

NYSE THC opened at $90.54 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. The company has a fifty day simple moving average of $79.11 and a 200 day simple moving average of $70.70. The company has a market cap of $9.19 billion, a P/E ratio of 15.86, a P/E/G ratio of 4.66 and a beta of 2.10. Tenet Healthcare has a 1 year low of $49.76 and a 1 year high of $91.85.

Tenet Healthcare (NYSE:THCGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the business posted $1.96 EPS. Tenet Healthcare’s quarterly revenue was up 7.8% on a year-over-year basis.

Insider Activity at Tenet Healthcare

In related news, Director Richard W. Fisher sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $66.33, for a total transaction of $331,650.00. Following the completion of the sale, the director now directly owns 23,227 shares of the company’s stock, valued at $1,540,646.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of THC. US Bancorp DE grew its holdings in Tenet Healthcare by 14.6% during the first quarter. US Bancorp DE now owns 1,428 shares of the company’s stock valued at $123,000 after purchasing an additional 182 shares during the period. HighTower Advisors LLC acquired a new position in Tenet Healthcare during the first quarter valued at approximately $219,000. Natixis Advisors L.P. acquired a new position in shares of Tenet Healthcare in the first quarter valued at approximately $1,651,000. APG Asset Management N.V. acquired a new position in shares of Tenet Healthcare in the first quarter valued at approximately $1,769,000. Finally, Great West Life Assurance Co. Can boosted its holdings in Tenet Healthcare by 13.2% during the first quarter. Great West Life Assurance Co. Can now owns 63,273 shares of the company’s stock worth $5,604,000 after purchasing an additional 7,365 shares during the last quarter. Institutional investors and hedge funds own 93.56% of the company’s stock.

About Tenet Healthcare

(Get Free Report)

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

See Also

Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.