Tenet Healthcare (NYSE:THC) Sets New 52-Week High - Here's What Happened

Key Points

• Tenet Healthcare shares reached a new 52-week high of $271.17, while the stock’s consensus analyst rating remained “Moderate Buy” with an average price target of $273.00.
• Tenet reported strong quarterly results, posting $6.12 in earnings per share versus the $4.26 consensus estimate and $6.04 billion in revenue, up 6.8% year over year.
• Institutional ownership stands at 95.44%, with several funds increasing their positions; meanwhile, insiders sold 41,375 shares worth approximately $9.8 million over the past 90 days.

Tenet Healthcare Corporation (NYSE:THC - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as $271.17 and last traded at $270.2950, with a volume of 94956 shares changing hands. The stock had previously closed at $264.56.

Analyst Upgrades and Downgrades

Several research firms have commented on THC. Raymond James Financial reaffirmed an "outperform" rating and set a $285.00 price objective on shares of Tenet Healthcare in a research note on Friday. Piper Sandler set a $308.00 price target on shares of Tenet Healthcare in a report on Monday, July 27th. Guggenheim raised their price objective on shares of Tenet Healthcare from $242.00 to $283.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Mizuho set a $290.00 target price on Tenet Healthcare in a research report on Monday, August 10th. Finally, TD Cowen increased their price target on Tenet Healthcare from $233.00 to $263.00 and gave the stock a "buy" rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus price target of $273.00.

Tenet Healthcare Stock Performance

The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $21.70 billion, a PE ratio of 10.42, a PEG ratio of 1.02 and a beta of 1.23. The firm's 50-day simple moving average is $212.24 and its 200-day simple moving average is $204.56.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the previous year, the firm posted $4.02 earnings per share. The company'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, research analysts predict that Tenet Healthcare Corporation will post 20.97 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Christopher S. Lynch sold 3,837 shares of the firm's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $243.44, for a total transaction of $934,079.28. Following the transaction, the director owned 9,568 shares in the company, valued at approximately $2,329,233.92. This trade represents a 28.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Paola M. Arbour sold 10,878 shares of Tenet Healthcare stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $243.90, for a total value 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. The trade was a 37.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 41,375 shares of company stock worth $9,793,347. Insiders own 0.97% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in THC. NewEdge Advisors LLC boosted its position in Tenet Healthcare by 6.1% during the first quarter. NewEdge Advisors LLC now owns 2,890 shares of the company's stock valued at $389,000 after purchasing an additional 166 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Tenet Healthcare by 299.1% during the first quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company's stock valued at $229,000 after buying an additional 1,274 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Tenet Healthcare in the 2nd quarter worth approximately $290,000. Quantbot Technologies LP bought a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $65,000. Finally, Amundi lifted its position in Tenet Healthcare by 4,207.8% during the second quarter. Amundi now owns 27,010 shares of the company's stock valued at $4,652,000 after acquiring an additional 26,383 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

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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