Tenet Healthcare (NYSE:THC) Price Target Cut to $236.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its price target on Tenet from $277 to $236 but maintained an "outperform" rating, and despite several target trims the analyst consensus remains a Moderate Buy with an average price target of $242.28.
• Tenet beat Q1 EPS expectations ($4.82 vs. $4.21) and issued FY2026 guidance of 16.38–18.68 EPS, while accelerating outpatient growth through ASC acquisitions (~$125M deployed in Q1) to improve margins.
• Shares traded at $183.73 in the latest session (market cap ≈ $16.1B), well below recent analyst targets and the 1‑year high of $247.21, leaving analysts to estimate meaningful upside despite some caution over revenue/mix headwinds.

Tenet Healthcare (NYSE:THC - Get Free Report) had its target price cut by Royal Bank Of Canada from $277.00 to $236.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 28.45% from the stock's previous close.

Several other research analysts also recently issued reports on THC. Barclays upped their price target on shares of Tenet Healthcare from $240.00 to $257.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Weiss Ratings restated a "buy (b-)" rating on shares of Tenet Healthcare in a research report on Friday, March 27th. TD Cowen restated a "buy" rating on shares of Tenet Healthcare in a research report on Thursday, February 12th. Guggenheim cut their target price on shares of Tenet Healthcare from $283.00 to $252.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Jefferies Financial Group upped their target price on shares of Tenet Healthcare from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $242.28.

Tenet Healthcare Price Performance

NYSE THC traded up $6.61 on Friday, hitting $183.73. 2,089,290 shares of the company were exchanged, compared to its average volume of 1,136,214. The firm has a 50 day moving average of $207.31 and a two-hundred day moving average of $204.17. The company has a market cap of $16.10 billion, a P/E ratio of 11.87, a P/E/G ratio of 1.35 and a beta of 1.49. The company has a current ratio of 1.76, a quick ratio of 1.68 and a debt-to-equity ratio of 2.18. Tenet Healthcare has a 1-year low of $145.27 and a 1-year high of $247.21.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.61. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.39 billion. Tenet Healthcare had a net margin of 6.60% and a return on equity of 26.33%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, equities analysts predict that Tenet Healthcare will post 17.31 EPS for the current year.

Insider Buying and Selling

In other news, EVP Paola M. Arbour sold 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $238.43, for a total transaction of $1,549,795.00. Following the completion of the transaction, the executive vice president directly owned 29,291 shares of the company's stock, valued at $6,983,853.13. This trade represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Scott Ramsey sold 8,017 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $232.70, for a total transaction of $1,865,555.90. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 46,517 shares of company stock valued at $10,943,111. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds have recently made changes to their positions in the business. Triumph Capital Management acquired a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $25,000. Activest Wealth Management acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $29,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $32,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Tenet Healthcare in the 2nd quarter valued at approximately $35,000. 95.44% of the stock is owned by institutional investors.

Key Stories Impacting Tenet Healthcare

Here are the key news stories impacting Tenet Healthcare this week:

• Positive Sentiment: Q1 earnings beat and solid guidance — Tenet reported $4.82 EPS vs. $4.21 consensus and issued FY2026 EPS guidance of 16.38–18.68, supporting investor confidence in profitability and cash flow. Earnings Call Summary
• Positive Sentiment: Strategic ASC expansion — Tenet deployed ~$125M to acquire seven ASCs in Q1 and says it is pursuing more deals, accelerating its shift to higher‑margin outpatient care and diversifying revenue mix. Tenet deployed $125M on 7 ASC acquisitions
• Positive Sentiment: Operational wins in outpatient/surgical programs — Management highlighted double‑digit joint replacement growth and expansion of robotic surgery programs, which support higher acuity and margin improvement over time. ASC acuity push is paying off
• Neutral Sentiment: Guggenheim cut its price target (to $252) but kept a Buy — target reduction narrows upside while the buy rating still signals analyst confidence. Benzinga
• Neutral Sentiment: Wells Fargo trimmed its target to $213 but maintained an Overweight view — another pullback in targets that tempers near‑term upside expectations. Benzinga TickerReport
• Neutral Sentiment: KeyCorp lowered its target to $225 but stayed Overweight — similar theme of trimmed targets with ongoing analyst support. Benzinga TickerReport
• Negative Sentiment: Revenue miss and admissions‑mix concerns — Tenet slightly missed revenue estimates and cited an unfavorable admissions mix and external disruptions, which explain caution among some investors and justify the target trims. Benzinga: Admissions mix

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.

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