Tenet Healthcare (NYSE:THC) Given “Outperform” Rating at Leerink Partners

Tenet Healthcare (NYSE:THC)‘s stock had its “outperform” rating reissued by analysts at Leerink Partners in a research note issued on Friday, Benzinga reports. They presently have a $309.00 price target on the stock. Leerink Partners’ price objective points to a potential upside of 18.28% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Royal Bank Of Canada boosted their target price on Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. UBS Group boosted their price objective on Tenet Healthcare from $288.00 to $308.00 and gave the company a “buy” rating in a research report on Monday, July 27th. TD Cowen lifted their target price on shares of Tenet Healthcare from $233.00 to $263.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Robert W. Baird increased their price target on shares of Tenet Healthcare from $210.00 to $280.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Finally, Zacks Research raised shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $277.89.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock traded down $0.66 during trading on Friday, hitting $261.24. 122,063 shares of the stock traded hands, compared to its average volume of 1,178,236. The firm’s fifty day moving average is $249.50 and its 200-day moving average is $212.95. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.01 and a beta of 1.23. Tenet Healthcare has a 52 week low of $157.58 and a 52 week high of $283.05. 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 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 firm had revenue of $6.04 billion during the quarter, compared to analyst estimates of $5.43 billion. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.02 EPS. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Research analysts expect that Tenet Healthcare will post 21.04 EPS for the current fiscal year.

Insider Activity at Tenet Healthcare

In related news, EVP Paola Arbour sold 10,878 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $243.90, for a total transaction of $2,653,144.20. Following the completion of the transaction, the executive vice president owned 18,413 shares in the company, valued at $4,490,930.70. This represents a 37.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Mark sold 10,000 shares of Tenet Healthcare stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the completion of the sale, the director owned 25,121 shares in the company, valued at approximately $6,617,373.82. This trade represents a 28.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 131,199 shares of company stock valued at $35,065,587 over the last 90 days. Company insiders own 0.97% of the company’s stock.

Institutional Trading of Tenet Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of THC. Elyxium Wealth LLC purchased a new stake in shares of Tenet Healthcare during the 4th quarter valued at about $29,000. Trust Co. of Vermont purchased a new stake in Tenet Healthcare during the second quarter valued at approximately $37,000. OP Asset Management Ltd bought a new position in Tenet Healthcare in the first quarter worth approximately $49,000. Compass Financial Management LLC bought a new stake in shares of Tenet Healthcare during the 2nd quarter valued at $57,000. Finally, William B. Walkup & Associates Inc. lifted its position in Tenet Healthcare by 88.7% during the fourth quarter. William B. Walkup & Associates Inc. now owns 302 shares of the company’s stock valued at $60,000 after purchasing an additional 142 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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.