Tenet Healthcare (NYSE:THC) Updates FY 2026 Earnings Guidance

Key Points

• Tenet issued FY2026 guidance of $16.38–$18.68 EPS and $21.5B–$22.3B revenue, versus consensus estimates of $17.22 EPS and $22.0B revenue.
• Shares fell to $175.75 after the update despite a quarterly EPS beat ($4.82 vs. $4.19); analysts still rate the stock a consensus “Moderate Buy” with an average target of $250.56, while insiders sold roughly $11M of stock in the past three months.

Tenet Healthcare (NYSE:THC - Get Free Report) issued an update on its FY 2026 earnings guidance on Thursday morning. The company provided earnings per share guidance of 16.380-18.68 for the period, compared to the consensus earnings per share estimate of 17.220. The company issued revenue guidance of $21.5 billion-$22.3 billion, compared to the consensus revenue estimate of $22.0 billion.

Tenet Healthcare Stock Performance

NYSE:THC traded down $4.35 during midday trading on Thursday, reaching $175.75. The stock had a trading volume of 222,912 shares, compared to its average volume of 1,093,690. The firm has a fifty day simple moving average of $208.33 and a two-hundred day simple moving average of $204.36. Tenet Healthcare has a 12-month low of $140.28 and a 12-month high of $247.21. 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 cap of $15.40 billion, a P/E ratio of 11.41, a P/E/G ratio of 1.39 and a beta of 1.49.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, beating analysts' consensus estimates of $4.19 by $0.63. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.40 billion. Tenet Healthcare had a net margin of 6.60% and a return on equity of 26.33%. Tenet Healthcare's quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, equities analysts expect that Tenet Healthcare will post 17.31 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on THC shares. KeyCorp raised their target price on Tenet Healthcare from $225.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, February 12th. Royal Bank Of Canada raised their price target on Tenet Healthcare from $253.00 to $277.00 and gave the company an "outperform" rating in a report on Thursday, February 12th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $265.00 target price on shares of Tenet Healthcare in a research note on Monday, February 16th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Tenet Healthcare in a research note on Friday, March 27th. Finally, Wall Street Zen cut Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average price target of $250.56.

Insider Transactions at Tenet Healthcare

In related news, EVP Paola M. Arbour sold 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $238.43, for a total value of $1,549,795.00. Following the transaction, the executive vice president directly owned 29,291 shares of the company's stock, valued at approximately $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 accessible through this link. Also, insider R. Scott Ramsey sold 8,017 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $232.70, for a total value of $1,865,555.90. The SEC filing for this sale provides additional information. Insiders sold 46,517 shares of company stock valued at $10,943,111 in the last three months. Corporate insiders own 0.81% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Triumph Capital Management bought a new position in Tenet Healthcare in the 3rd quarter worth approximately $25,000. Canada Pension Plan Investment Board bought a new stake in shares of Tenet Healthcare during the second quarter valued at approximately $35,000. Meeder Asset Management Inc. increased its position in shares of Tenet Healthcare by 146.2% during the fourth quarter. Meeder Asset Management Inc. now owns 192 shares of the company's stock valued at $38,000 after purchasing an additional 114 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Tenet Healthcare by 50.9% during the second quarter. Geneos Wealth Management Inc. now owns 264 shares of the company's stock valued at $46,000 after purchasing an additional 89 shares during the period. Finally, Wilkerson Advisory Group LLC bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $62,000. 95.44% of the stock is owned by 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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