Tenet Healthcare (NYSE:THC) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Tenet Healthcare shares rose above their 200-day moving average, trading as high as $269.30 versus the average of $217.61, and last changing hands at $266.69.
• Analysts remain bullish: 18 rate the stock Buy and three Hold, producing a “Moderate Buy” consensus and an average price target of $277.25.
• The company beat quarterly expectations with $6.12 in EPS and $6.04 billion in revenue, though insiders sold 131,199 shares worth approximately $35.1 million over the last quarter.

Tenet Healthcare Corporation (NYSE:THC - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $217.61 and traded as high as $269.30. Tenet Healthcare shares last traded at $266.69, with a volume of 599,982 shares.

Analysts Set New Price Targets

Several research firms have recently weighed in on THC. Wells Fargo & Company raised 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. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Tenet Healthcare in a research note on Friday, October 2nd. Weiss Ratings raised shares of Tenet Healthcare from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Morgan Stanley increased their price objective on shares of Tenet Healthcare from $254.00 to $274.00 and gave the company an "overweight" rating in a report on Monday, July 27th. Finally, Royal Bank Of Canada raised their target price on shares of Tenet Healthcare from $236.00 to $283.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $277.25.

Tenet Healthcare Price Performance

The company has a market cap of $21.47 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.02 and a beta of 1.20. The stock's 50-day simple moving average is $263.71 and its 200 day simple moving average is $217.61. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results 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. 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 the consensus estimate of $5.43 billion. During the same period in the previous year, the firm earned $4.02 EPS. The business's revenue was up 6.8% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. On average, equities research analysts anticipate that Tenet Healthcare Corporation will post 21.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Lisa Foo sold 24,000 shares of the company's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $266.32, for a total transaction of $6,391,680.00. Following the transaction, the executive vice president directly owned 8,053 shares in the company, 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 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 transaction, the director owned 25,121 shares of the company's stock, valued at approximately $6,617,373.82. This represents a 28.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 131,199 shares of company stock valued at $35,065,587 over the last quarter. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Trust Co. of Vermont acquired a new stake in Tenet Healthcare during the 2nd quarter worth approximately $37,000. OP Asset Management Ltd acquired a new position in shares of Tenet Healthcare in the first quarter worth $49,000. Compass Financial Management LLC acquired a new position in shares of Tenet Healthcare in the second quarter worth $57,000. William B. Walkup & Associates Inc. increased its position in shares of Tenet Healthcare by 88.7% during the fourth quarter. William B. Walkup & Associates Inc. now owns 302 shares of the company's stock worth $60,000 after acquiring an additional 142 shares during the period. Finally, Capital Advisors Ltd. LLC increased its position in shares of Tenet Healthcare by 11,933.3% during the first quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company's stock worth $68,000 after acquiring an additional 358 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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.

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