Brokerages Set Tenet Healthcare Corporation (NYSE:THC) PT at $275.53

Tenet Healthcare Corporation (NYSE:THC) has earned a consensus recommendation of “Buy” from the twenty brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $275.5263.

THC has been the topic of several research analyst reports. Robert W. Baird boosted their price target on shares of Tenet Healthcare from $210.00 to $280.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Royal Bank Of Canada lifted their price objective on Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Guggenheim raised their price target on Tenet Healthcare from $242.00 to $283.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Piper Sandler set a $308.00 price target on Tenet Healthcare in a research note on Monday, July 27th. Finally, Wall Street Zen upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 23rd.

Tenet Healthcare Trading Down 1.5%

Shares of NYSE THC opened at $260.51 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00. Tenet Healthcare has a one year low of $157.58 and a one year high of $283.05. The business has a 50-day moving average price of $247.22 and a two-hundred day moving average price of $212.60. The firm has a market capitalization of $20.98 billion, a PE ratio of 10.05, a PEG ratio of 1.01 and a beta of 1.23.

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

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Tammy Romo sold 4,922 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $264.15, for a total transaction of $1,300,146.30. Following the transaction, the director directly owned 30,784 shares in the company, valued at $8,131,593.60. This trade represents a 13.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paola M. Arbour sold 10,878 shares of the company’s stock in a transaction dated 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 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 position. The SEC filing for this sale provides additional information. Insiders have sold 119,189 shares of company stock worth $31,898,309 in the last ninety days. Company 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 added to or reduced their stakes in the stock. Jackson Creek Investment Advisors LLC raised its holdings in Tenet Healthcare by 235.6% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 9,032 shares of the company’s stock valued at $1,795,000 after acquiring an additional 6,341 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Tenet Healthcare by 3,478.7% in the fourth quarter. Hsbc Holdings PLC now owns 266,400 shares of the company’s stock valued at $53,269,000 after purchasing an additional 258,956 shares in the last quarter. Brandywine Global Investment Management LLC lifted its position in Tenet Healthcare by 20.5% in the fourth quarter. Brandywine Global Investment Management LLC now owns 126,248 shares of the company’s stock worth $25,088,000 after purchasing an additional 21,435 shares during the period. Louisiana State Employees Retirement System bought a new stake in Tenet Healthcare in the 1st quarter valued at $4,812,000. Finally, Cerity Partners LLC raised its stake in shares of Tenet Healthcare by 8.4% in the 4th quarter. Cerity Partners LLC now owns 156,141 shares of the company’s stock valued at $31,028,000 after buying an additional 12,060 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

About Tenet Healthcare

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.