Tenet Healthcare (NYSE:THC) Shares Gap Down - Here's Why

Key Points

• Shares gapped down — Tenet opened at $179.01 after a $188.33 close and was last around $177.71, a drop of about 4.8% on the session.
• Analysts have been raising targets and ratings (Barclays to $257, RBC to $277, Mizuho to $265), leaving the consensus average target at $250.56 with most firms at Buy/Outperform.
• Tenet beat quarterly EPS ($4.70 vs. $4.08 est.) and set FY2026 guidance of $16.19–$18.47 EPS, while insiders sold roughly 46,517 shares (~$10.94M) in the past 90 days.

Tenet Healthcare Corporation (NYSE:THC - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $188.33, but opened at $179.01. Tenet Healthcare shares last traded at $177.7120, with a volume of 519,130 shares traded.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of Tenet Healthcare from $240.00 to $257.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. KeyCorp boosted their price objective on shares of Tenet Healthcare from $225.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, February 12th. Wall Street Zen raised shares of Tenet Healthcare from a "buy" rating to a "strong-buy" rating in a report on Sunday, March 1st. Royal Bank Of Canada lifted their price objective on Tenet Healthcare from $253.00 to $277.00 and gave the company an "outperform" rating in a research note on Thursday, February 12th. Finally, Mizuho upped their target price on Tenet Healthcare from $235.00 to $265.00 and gave the stock an "outperform" rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $250.56.

Tenet Healthcare Stock Down 4.8%

The company has a quick ratio of 1.68, a current ratio of 1.76 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $15.71 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.92 and a beta of 1.49. The company's fifty day moving average price is $212.43 and its 200-day moving average price is $204.79.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $4.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.08 by $0.62. Tenet Healthcare had a return on equity of 26.33% and a net margin of 6.60%.The business had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter in the previous year, the business earned $3.44 earnings per share. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. Tenet Healthcare has set its FY 2026 guidance at 16.190-18.470 EPS. Analysts forecast that Tenet Healthcare Corporation will post 17.31 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Paola M. Arbour sold 6,500 shares of the business'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 value of $1,549,795.00. Following the completion of the transaction, the executive vice president directly owned 29,291 shares in the company, valued at $6,983,853.13. The trade was a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas W. Arnst sold 8,000 shares of Tenet Healthcare stock in a transaction on Monday, March 9th. The stock was sold at an average price of $238.85, for a total value of $1,910,800.00. Following the completion of the sale, the executive vice president directly owned 12 shares of the company's stock, valued at approximately $2,866.20. The trade was a 99.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 46,517 shares of company stock worth $10,943,111. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tenet Healthcare by 1.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,490,350 shares of the company's stock valued at $1,488,484,000 after acquiring an additional 119,809 shares during the last quarter. Boston Partners boosted its holdings in Tenet Healthcare by 15.7% in the fourth quarter. Boston Partners now owns 3,642,136 shares of the company's stock worth $723,804,000 after purchasing an additional 494,581 shares during the last quarter. AQR Capital Management LLC raised its stake in Tenet Healthcare by 20.3% during the 4th quarter. AQR Capital Management LLC now owns 2,256,539 shares of the company's stock valued at $448,419,000 after buying an additional 380,116 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Tenet Healthcare by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company's stock worth $373,020,000 after acquiring an additional 157,109 shares during the period. Finally, Norges Bank bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at about $248,494,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

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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