Bank of America Securities analyst Kevin Fischbeck has reiterated their bullish stance on THC stock, giving a Buy rating today.
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Kevin Fischbeck has given his Buy rating due to a combination of factors influencing Tenet Healthcare’s performance. The company has shown strong results, particularly in its Hospital and Ambulatory segments, with better-than-expected margins and pricing. Even when excluding prior-period state-directed program payments, Tenet’s EBITDA exceeded expectations by 5%, and the company has raised its EBITDA guidance, indicating continued strength.
Furthermore, Tenet’s focus on the Ambulatory Surgery Center business, which is experiencing faster growth, is a positive strategic move. The company’s revenue guidance has been adjusted upward, and the adjusted EPS guidance has increased by 26%. Additionally, Tenet has improved its outlook for adjusted free cash flow and expanded its share repurchase authorization, all of which contribute to the positive Buy rating.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $225.00 price target.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of THC in relation to earlier this year.