Tenet Healthcare (NYSE:THC) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Tenet Healthcare from hold to buy, adding to a broadly positive analyst backdrop. Overall, 17 analysts rate the stock a Buy and the consensus target price is $246.47.
• Tenet delivered a strong second quarter, posting $6.12 EPS versus estimates of $4.26 and revenue of $6.04 billion versus expectations of $5.43 billion. Revenue rose 6.8% year over year.
• Management raised full-year 2026 EPS guidance to $20.30-$21.69, reinforcing confidence that the earnings beat could continue. The stock has also surged, opening at $233.10 after a 17.1% move higher.

Tenet Healthcare (NYSE:THC - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday.

Several other research firms have also issued reports on THC. TD Cowen decreased their price target on shares of Tenet Healthcare from $242.00 to $233.00 and set a "buy" rating on the stock in a research report on Monday, June 22nd. Morgan Stanley set a $254.00 target price on shares of Tenet Healthcare in a research note on Friday, May 1st. Barclays boosted their price target on Tenet Healthcare from $240.00 to $271.00 and gave the company an "overweight" rating in a research note on Friday. KeyCorp reduced their price objective on Tenet Healthcare from $250.00 to $225.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Finally, Stephens lowered their price objective on Tenet Healthcare from $275.00 to $260.00 and set an "overweight" rating on the stock in a research report on Monday, May 4th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $246.47.

Tenet Healthcare Trading Up 17.1%

Shares of NYSE:THC opened at $233.10 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.30 and a current ratio of 1.36. The stock's 50-day moving average is $185.16 and its 200-day moving average is $197.62. The company has a market cap of $20.08 billion, a P/E ratio of 8.99, a P/E/G ratio of 1.93 and a beta of 1.27. Tenet Healthcare has a 52-week low of $146.60 and a 52-week high of $247.21.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Friday, July 24th. The company reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.26 by $1.86. The firm had revenue of $6.04 billion during the quarter, compared to the consensus estimate of $5.43 billion. Tenet Healthcare had a return on equity of 27.17% and a net margin of 10.27%.The firm's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.02 EPS. Equities research analysts predict that Tenet Healthcare will post 21 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director J Robert Kerrey sold 5,638 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $174.52, for a total value of $983,943.76. Following the sale, the director owned 16,804 shares in the company, valued at approximately $2,932,634.08. The trade was a 25.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nadja West sold 3,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total transaction of $532,050.00. Following the completion of the transaction, the director owned 24,805 shares in the company, valued at approximately $4,399,166.75. This trade represents a 10.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tenet Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in THC. Triumph Capital Management acquired a new position in Tenet Healthcare during the 3rd quarter worth $25,000. Activest Wealth Management acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at $26,000. Elyxium Wealth LLC bought a new stake in shares of Tenet Healthcare during the fourth quarter worth $29,000. Canada Pension Plan Investment Board bought a new position in Tenet Healthcare in the second quarter valued at about $35,000. Finally, Meeder Asset Management Inc. increased its position in Tenet Healthcare by 146.2% in the fourth quarter. Meeder Asset Management Inc. now owns 192 shares of the company's stock worth $38,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Key Stories Impacting Tenet Healthcare

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

• Positive Sentiment: Tenet beat Q2 expectations by a wide margin, reporting $6.12 EPS versus estimates around $4.26, while revenue of $6.04 billion also came in above forecasts. The company cited strong same-store revenue growth and effective expense management. Tenet Reports Strong Second Quarter 2026 Results; Raises 2026 Financial Outlook
• Positive Sentiment: Management raised FY 2026 EPS guidance to $20.30-$21.69, well above prior Street expectations, signaling that the earnings beat may not be a one-quarter event. Tenet Reports Strong Second Quarter 2026 Results; Raises 2026 Financial Outlook
• Positive Sentiment: Investor enthusiasm was further supported by commentary highlighting hospital growth, expense control, and M&A momentum, with multiple reports describing the quarter as a “blockbuster” and noting the stock’s strong response. Tenet's Blockbuster Quarter Sends Stock Flying, 2026 Outlook Gets Major Upgrade
• Neutral Sentiment: Tenet’s earnings call transcript and presentation may provide more detail on the quarter and outlook, but the main stock driver today appears to be the earnings beat and guidance increase rather than any new strategic surprise. Tenet Healthcare Corporation (THC) Q2 2026 Earnings Call Transcript
• Neutral Sentiment: Media coverage also noted broader strength in hospital stocks, which may be adding to the move in Tenet Healthcare (THC). Why Tenet Healthcare Stock Is Soaring Today

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.