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This Top Medical Stock is a #1 (Strong Buy): Why It Should Be on Your Radar

Zacks Equity Research
·2-min read

Building a successful investment portfolio takes skill and hard work, no matter if you're a growth, value, income, or momentum-focused investor.

Should You Buy #1 (Strong Buy)-Ranked Tenet Healthcare (THC) for Your Portfolio?

Tenet Healthcare was upgraded to the Zacks Rank #1 list on July 23, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.

Founded in 1967 and headquartered in Dallas, TX, Tenet Healthcare Corp., is an investor-owned health care services company, which owns and operates general hospitals and related health care facilities for urban and rural communities in numerous states, and has offices in California and Florida. The company has investments in other health care companies and is one of the largest investor-owned health care delivery systems in the United States.

Seven analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $1.80 to $10.72 per share. THC boasts an average earnings surprise of 58.5%.

Earnings are expected to grow 53.6% for the current fiscal year, while revenue is projected to increase 1.4%.

Additionally, THC has climbed higher over the past four weeks, gaining 4.2%. The S&P 500 is up 2.1% in comparison.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Tenet Healthcare could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.

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Tenet Healthcare Corporation (THC) : Free Stock Analysis Report

Zacks Investment Research