Tenet Healthcare (NYSE:THC) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Tenet Healthcare to “strong buy” from “hold.” The broader analyst consensus remains “Moderate Buy,” with an average price target of $272.25.
• Tenet reported a strong latest quarter, with earnings of $6.12 per share versus the $4.26 consensus estimate and revenue of $6.04 billion, up 6.8% year over year.
• Shares opened at $266.87, near their 52-week high of $269.31, while insiders sold about $9.8 million of stock over the past 90 days; institutional investors own 95.44% of the company.

Tenet Healthcare (NYSE:THC - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

THC has been the subject of a number of other reports. Truist Financial upped their target price on shares of Tenet Healthcare from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Morgan Stanley boosted their price target on Tenet Healthcare from $254.00 to $274.00 and gave the company an "overweight" rating in a report on Monday, July 27th. Raymond James Financial set a $270.00 price objective on Tenet Healthcare in a report on Monday, July 27th. Piper Sandler set a $308.00 target price on Tenet Healthcare in a research note on Monday, July 27th. Finally, Weiss Ratings downgraded Tenet Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $272.25.

Tenet Healthcare Trading Up 2.9%

NYSE THC opened at $266.87 on Tuesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.41 and a quick ratio of 1.35. The firm has a market cap of $21.49 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.99 and a beta of 1.23. The stock's 50-day moving average is $205.96 and its 200-day moving average is $202.93. Tenet Healthcare has a one year low of $157.58 and a one year high of $269.31.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share 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 firm had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the firm posted $4.02 earnings per share. 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. Sell-side analysts anticipate that Tenet Healthcare will post 21.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 10,878 shares of the firm's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $243.90, for a total transaction of $2,653,144.20. Following the completion of the sale, the executive vice president owned 18,413 shares of the company's stock, valued at $4,490,930.70. This trade represents a 37.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher S. Lynch sold 3,837 shares of the company's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $243.44, for a total transaction of $934,079.28. Following the completion of the transaction, the director owned 9,568 shares in the company, valued at approximately $2,329,233.92. This represents a 28.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 41,375 shares of company stock worth $9,793,347. 0.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in THC. Triumph Capital Management bought a new stake in Tenet Healthcare in the 3rd quarter valued at $25,000. Activest Wealth Management acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth $26,000. Elyxium Wealth LLC bought a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $29,000. Meeder Asset Management Inc. grew its stake in shares of Tenet Healthcare by 146.2% in the fourth quarter. Meeder Asset Management Inc. now owns 192 shares of the company's stock valued at $38,000 after acquiring an additional 114 shares in the last quarter. Finally, Trust Co. of Vermont bought a new stake in Tenet Healthcare in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Company Profile

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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