Guggenheim Cuts Tenet Healthcare (NYSE:THC) Price Target to $242.00

Tenet Healthcare (NYSE:THC) had its target price reduced by Guggenheim from $252.00 to $242.00 in a research note published on Monday morning, Marketbeat.com reports. Guggenheim currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on THC. KeyCorp cut their price target on Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. TD Cowen decreased their price objective on Tenet Healthcare from $242.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Stephens cut their target price on Tenet Healthcare from $275.00 to $260.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Weiss Ratings cut Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Finally, Robert W. Baird lowered their price target on Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and an average price target of $244.84.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $195.84 on Monday. Tenet Healthcare has a 1 year low of $146.60 and a 1 year high of $247.21. The company’s 50-day moving average is $184.41 and its two-hundred day moving average is $197.37. The company has a current ratio of 1.36, a quick ratio of 1.30 and a debt-to-equity ratio of 1.96. The company has a market cap of $16.87 billion, a PE ratio of 10.18, a PEG ratio of 1.63 and a beta of 1.27.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.61. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm posted $4.36 earnings per share. Tenet Healthcare’s revenue for the quarter was up 2.6% compared to the same quarter last year. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. Equities analysts anticipate that Tenet Healthcare will post 17.5 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,638 shares of Tenet Healthcare stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $174.52, for a total transaction of $983,943.76. Following the transaction, the director directly owned 16,804 shares in the company, valued at approximately $2,932,634.08. The trade was a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nadja West sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total value of $532,050.00. Following the completion of the transaction, the director directly owned 24,805 shares of the company’s stock, valued at approximately $4,399,166.75. The trade was a 10.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth $248,494,000. Wellington Management Group LLP boosted its stake in Tenet Healthcare by 1,114.2% in the 4th quarter. Wellington Management Group LLP now owns 1,135,801 shares of the company’s stock worth $225,706,000 after purchasing an additional 1,042,260 shares during the period. Boston Partners increased its holdings in Tenet Healthcare by 38.8% during the 3rd quarter. Boston Partners now owns 3,147,555 shares of the company’s stock worth $638,958,000 after purchasing an additional 880,413 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Tenet Healthcare by 62.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company’s stock valued at $380,989,000 after purchasing an additional 720,160 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Tenet Healthcare by 375.7% in the second quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock valued at $139,085,000 after purchasing an additional 624,125 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 American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.