Tenet Healthcare (NYSE:THC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tenet Healthcare (NYSE:THC) from a buy rating to a strong-buy rating in a research note published on Sunday.

THC has been the topic of a number of other research reports. Royal Bank Of Canada raised their target price on shares of Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. TD Cowen increased their price objective on shares of Tenet Healthcare from $233.00 to $263.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Truist Financial lifted their price objective on shares of Tenet Healthcare from $270.00 to $290.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. The Goldman Sachs Group restated a “buy” rating and set a $305.00 target price on shares of Tenet Healthcare in a report on Tuesday, July 28th. Finally, Piper Sandler set a $308.00 target price on Tenet Healthcare in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Buy” and an average target price of $273.00.

Tenet Healthcare Trading Down 2.3%

Shares of NYSE THC opened at $272.24 on Friday. Tenet Healthcare has a twelve month low of $157.58 and a twelve month high of $283.05. The firm has a market cap of $21.92 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.07 and a beta of 1.23. The business has a fifty day simple moving average of $224.30 and a two-hundred day simple moving average of $208.11. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 EPS for the quarter, beating the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The firm had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the firm posted $4.02 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Analysts expect that Tenet Healthcare will post 20.98 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Lisa Y. Foo sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $258.03, for a total transaction of $2,580,300.00. Following the completion of the sale, the executive vice president owned 32,053 shares of the company’s stock, valued at $8,270,635.59. This represents a 23.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tammy Romo sold 4,922 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $264.15, for a total transaction of $1,300,146.30. Following the completion of the sale, the director owned 30,784 shares of the company’s stock, valued at approximately $8,131,593.60. This trade represents a 13.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,375 shares of company stock worth $9,261,297 over the last 90 days. 0.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Triumph Capital Management purchased a new stake in shares of Tenet Healthcare during the third quarter worth about $25,000. Activest Wealth Management purchased a new position in shares of Tenet Healthcare in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in Tenet Healthcare in the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. grew its position in Tenet Healthcare by 146.2% during the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock worth $38,000 after purchasing an additional 114 shares during the last quarter. Finally, Trust Co. of Vermont acquired a new position in Tenet Healthcare during the 2nd quarter valued at approximately $37,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.