Tenet Healthcare (NYSE:THC) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Tenet Healthcare (NYSE:THC) from a strong-buy rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. 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 research report on Monday, August 3rd. Zacks Research lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tenet Healthcare in a research report on Friday. Leerink Partners reaffirmed an “outperform” rating and issued a $309.00 target price on shares of Tenet Healthcare in a research report on Friday, September 18th. Finally, Royal Bank Of Canada boosted their price target on shares of Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $277.25.

Tenet Healthcare Trading Up 0.6%

NYSE:THC opened at $260.17 on Friday. The firm has a market capitalization of $20.95 billion, a P/E ratio of 10.03, a P/E/G ratio of 0.99 and a beta of 1.20. 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. The company has a fifty day moving average of $262.76 and a 200 day moving average of $215.04.

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

Insider Activity

In other Tenet Healthcare news, Director J. Robert Kerrey sold 12,010 shares of the company’s stock in a transaction dated 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 sale, the director owned 4,794 shares in the company, valued at approximately $1,264,273.68. This represents a 71.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa Y. Foo sold 24,000 shares of Tenet Healthcare 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 transaction, the executive vice president owned 8,053 shares of the company’s stock, valued at $2,144,674.96. The trade was a 74.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 131,199 shares of company stock worth $35,065,587. 0.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in THC. CX Institutional purchased a new position in shares of Tenet Healthcare in the 3rd quarter worth about $6,415,000. QRG Capital Management Inc. lifted its stake in shares of Tenet Healthcare by 4.5% in the second quarter. QRG Capital Management Inc. now owns 10,457 shares of the company’s stock worth $1,956,000 after buying an additional 446 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Tenet Healthcare by 8.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,680 shares of the company’s stock worth $1,811,000 after acquiring an additional 788 shares during the last quarter. Talon Private Wealth LLC raised its stake in shares of Tenet Healthcare by 35.4% in the second quarter. Talon Private Wealth LLC now owns 23,097 shares of the company’s stock worth $4,321,000 after purchasing an additional 6,044 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Tenet Healthcare by 54.5% during the second quarter. Sequoia Financial Advisors LLC now owns 2,312 shares of the company’s stock valued at $433,000 after buying an additional 816 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

About Tenet Healthcare

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.