Tenet Healthcare (NYSE:THC) Price Target Raised to $307.00

Tenet Healthcare (NYSE:THC) had its price target upped by stock analysts at Guggenheim from $283.00 to $307.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target suggests a potential upside of 11.61% from the company’s previous close.

Several other equities analysts also recently commented on THC. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tenet Healthcare in a research note on Friday, October 2nd. Leerink Partners reissued an “outperform” rating and set a $309.00 price objective on shares of Tenet Healthcare in a research note on Friday, September 18th. Morgan Stanley increased their price target on shares of Tenet Healthcare from $254.00 to $274.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Royal Bank Of Canada raised their price objective on Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Finally, Wells Fargo & Company boosted their price target on shares of Tenet Healthcare from $231.00 to $281.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Eighteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $278.45.

Tenet Healthcare Trading Up 1.3%

NYSE THC opened at $275.06 on Friday. Tenet Healthcare has a 12 month low of $157.58 and a 12 month high of $283.05. The firm has a market capitalization of $22.15 billion, a P/E ratio of 10.61, a PEG ratio of 1.04 and a beta of 1.20. The business has a fifty day simple moving average of $264.27 and a 200 day simple moving average of $218.73. 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 (NYSE:THC) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.26 by $1.86. The business had revenue of $6.04 billion during 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%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.02 EPS. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. On average, analysts predict that Tenet Healthcare will post 21.04 EPS for the current fiscal year.

Insider Activity

In other news, CEO Saumya Sutaria sold 50,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $278.71, for a total value of $13,935,500.00. Following the completion of the transaction, the chief executive officer owned 483,564 shares of the company’s stock, valued at approximately $134,774,122.44. This represents a 9.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Robert Kerrey sold 12,010 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $263.72, for a total value of $3,167,277.20. Following the transaction, the director directly owned 4,794 shares of the company’s stock, valued at $1,264,273.68. This represents a 71.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 131,199 shares of company stock worth $35,065,587. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Tenet Healthcare in the 3rd quarter worth approximately $26,000. Mather Group LLC. grew its position in 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 buying an additional 66 shares during the period. Trust Co. of Vermont purchased a new stake in shares of Tenet Healthcare in the 2nd quarter worth $37,000. OP Asset Management Ltd bought a new position in shares of Tenet Healthcare in the first quarter worth about $49,000. Finally, Compass Financial Management LLC purchased a new position in Tenet Healthcare during the second quarter valued at approximately $57,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation is a Dallas-based healthcare services company that operates hospitals, outpatient facilities and other healthcare businesses across the United States. Its operations include acute care hospitals, specialty hospitals, ambulatory surgery centers and related outpatient services.

Through its United Surgical Partners International subsidiary, Tenet is one of the major operators and developers of ambulatory surgery centers in the United States. These facilities provide same-day surgical procedures and other outpatient care across a range of medical specialties.