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 research note issued on Tuesday, Zacks reports.

Several other analysts have also issued reports on the stock. Guggenheim raised their price target on shares of Tenet Healthcare from $242.00 to $283.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. The Goldman Sachs Group reiterated a “buy” rating and issued a $305.00 target price on shares of Tenet Healthcare in a research note on Tuesday, July 28th. Weiss Ratings upgraded Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 20th. Piper Sandler set a $308.00 price target on Tenet Healthcare in a report on Monday, July 27th. Finally, Wells Fargo & Company lifted their price objective on Tenet Healthcare from $231.00 to $281.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $277.25.

Tenet Healthcare Stock Down 2.2%

Shares of THC stock opened at $256.23 on Tuesday. Tenet Healthcare has a 12 month low of $157.58 and a 12 month 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. 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 stock has a 50 day moving average of $254.81 and a 200-day moving average of $213.49.

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

Insider Activity at Tenet Healthcare

In other news, Director Richard Mark sold 10,000 shares of the company’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 value of $2,634,200.00. Following the sale, the director directly owned 25,121 shares in the company, valued at approximately $6,617,373.82. This represents a 28.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nadja West sold 1,152 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $258.80, for a total value of $298,137.60. Following the completion of the transaction, the director directly owned 23,653 shares of the company’s stock, valued at approximately $6,121,396.40. The trade was a 4.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 131,199 shares of company stock valued at $35,065,587. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Several large investors have recently made changes to their positions in THC. PeakShares LLC increased its position in Tenet Healthcare by 3.3% during the first quarter. PeakShares LLC now owns 1,693 shares of the company’s stock worth $319,000 after buying an additional 54 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Tenet Healthcare by 0.5% during the 1st quarter. Sanctuary Advisors LLC now owns 11,900 shares of the company’s stock worth $2,246,000 after acquiring an additional 57 shares during the period. Applied Finance Capital Management LLC increased its holdings in shares of Tenet Healthcare by 3.8% during the 1st quarter. Applied Finance Capital Management LLC now owns 1,644 shares of the company’s stock worth $310,000 after acquiring an additional 60 shares during the last quarter. Tidal Investments LLC raised its stake in Tenet Healthcare by 0.6% in the 2nd quarter. Tidal Investments LLC now owns 13,296 shares of the company’s stock valued at $2,487,000 after acquiring an additional 79 shares during the period. Finally, Foster & Motley Inc. lifted its holdings in Tenet Healthcare by 1.3% during the 1st quarter. Foster & Motley Inc. now owns 9,333 shares of the company’s stock valued at $1,761,000 after purchasing an additional 118 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

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.