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 report published on Saturday,Wall Street Zen reports.

A number of other brokerages have also issued reports on THC. Leerink Partners reaffirmed an “outperform” rating and set a $309.00 price target on shares of Tenet Healthcare in a research note on Friday, September 18th. UBS Group boosted their price objective on Tenet Healthcare from $288.00 to $308.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Weiss Ratings upgraded Tenet Healthcare from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Piper Sandler set a $308.00 price objective on Tenet Healthcare in a report on Monday, July 27th. Finally, BMO Capital Markets began coverage on Tenet Healthcare in a research note on Tuesday, September 22nd. They set a “market perform” rating and a $265.00 target price for the company. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.45.

Tenet Healthcare Trading Down 0.3%

Shares of NYSE:THC opened at $266.58 on Friday. The company has a 50 day moving average of $264.48 and a 200-day moving average of $219.84. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00. The firm has a market cap of $21.46 billion, a P/E ratio of 10.28, a P/E/G ratio of 1.02 and a beta of 1.20. Tenet Healthcare has a twelve month low of $157.58 and a twelve month high of $283.05.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $4.26 by $1.86. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The business had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the business earned $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. As a group, analysts anticipate that Tenet Healthcare will post 21.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Lisa Foo sold 24,000 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $266.32, for a total transaction of $6,391,680.00. Following the completion of the sale, the executive vice president directly owned 8,053 shares of the company’s stock, valued at $2,144,674.96. This represents a 74.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Mark sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 25,121 shares of the company’s stock, valued at $6,617,373.82. The trade was a 28.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 131,199 shares of company stock worth $35,065,587. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in shares of Tenet Healthcare in the third quarter worth approximately $26,000. Mather Group LLC. raised its holdings in shares of Tenet Healthcare by 126.9% during the third quarter. Mather Group LLC. now owns 118 shares of the company’s stock valued at $30,000 after acquiring an additional 66 shares during the period. Trust Co. of Vermont purchased a new stake in shares of Tenet Healthcare in the 2nd quarter valued at approximately $37,000. OP Asset Management Ltd purchased a new stake in shares of Tenet Healthcare in the 1st quarter valued at approximately $49,000. Finally, Compass Financial Management LLC acquired a new position in Tenet Healthcare in the 2nd quarter worth approximately $57,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Company Profile

Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.

Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.