Tenet Healthcare (NYSE:THC) Raised to “Hold” at BMO Capital Markets

Tenet Healthcare (NYSE:THC) was upgraded by BMO Capital Markets to a “hold” rating in a report released on Tuesday, Zacks reports.

THC has been the subject of a number of other research reports. Stephens reiterated an “overweight” rating and issued a $285.00 price target on shares of Tenet Healthcare in a research note on Monday, July 27th. Royal Bank Of Canada raised their price objective on shares of Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Zacks Research raised shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Mizuho set a $290.00 target price on Tenet Healthcare in a report on Monday, August 10th. Finally, UBS Group lifted their price target on Tenet Healthcare from $288.00 to $308.00 and gave the stock a “buy” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.25.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $256.23 on Tuesday. The company’s 50 day moving average is $254.81 and its two-hundred day moving average is $213.49. The firm has a market cap of $20.63 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23. 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 has a 52-week low of $157.58 and a 52-week high of $283.05.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.26 by $1.86. The business had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.43 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.02 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. On average, research analysts expect that Tenet Healthcare will post 21.04 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola Arbour sold 10,878 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $243.90, for a total value of $2,653,144.20. Following the completion of the sale, the executive vice president owned 18,413 shares of the company’s stock, valued at approximately $4,490,930.70. This trade represents a 37.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Mark sold 10,000 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the transaction, the director directly owned 25,121 shares in the company, valued at approximately $6,617,373.82. This trade represents a 28.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 131,199 shares of company stock valued at $35,065,587 in the last three months. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Trust Co. of Vermont purchased a new position in shares of Tenet Healthcare in the second quarter valued at $37,000. OP Asset Management Ltd purchased a new position in shares of Tenet Healthcare in the 1st quarter worth about $49,000. Compass Financial Management LLC purchased a new position in shares of Tenet Healthcare in the 2nd quarter valued at $57,000. William B. Walkup & Associates Inc. boosted its position in Tenet Healthcare by 88.7% during the 4th quarter. William B. Walkup & Associates Inc. now owns 302 shares of the company’s stock worth $60,000 after purchasing an additional 142 shares during the period. Finally, Capital Advisors Ltd. LLC grew its stake in shares of Tenet Healthcare by 11,933.3% in the first quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company’s stock valued at $68,000 after buying an additional 358 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company that owns and operates acute care hospitals and other healthcare facilities in the United States. Its hospitals provide services including emergency care, surgery, cardiovascular care, orthopedics, oncology, women’s health and other inpatient and outpatient treatments.

Through its ambulatory business, United Surgical Partners International, Tenet operates and manages ambulatory surgery centers and other outpatient facilities.