Tenet Healthcare (NYSE:THC) Given New $242.00 Price Target at Guggenheim

Tenet Healthcare (NYSE:THC) had its target price decreased by stock analysts at Guggenheim from $252.00 to $242.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price would indicate a potential upside of 24.18% from the stock’s current price.

A number of other brokerages have also issued reports on THC. Royal Bank Of Canada dropped their target price on Tenet Healthcare from $277.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Stephens lowered their price target 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. Robert W. Baird decreased their target price on Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Morgan Stanley set a $254.00 price target on Tenet Healthcare in a report on Friday, May 1st. Finally, Weiss Ratings cut shares of Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Eighteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $244.84.

Tenet Healthcare Trading Down 0.0%

NYSE THC opened at $194.89 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.30 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $16.79 billion, a PE ratio of 10.13, a P/E/G ratio of 1.61 and a beta of 1.27. The stock has a 50-day simple moving average of $184.35 and a 200 day simple moving average of $197.45. Tenet Healthcare has a 12 month low of $146.60 and a 12 month high of $247.21.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Thursday, April 30th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.61. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.39 billion. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. Research analysts forecast that Tenet Healthcare will post 17.5 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Tenet Healthcare

Hedge funds have recently made changes to their positions in the stock. Triumph Capital Management acquired a new stake in Tenet Healthcare during the third quarter valued at approximately $25,000. Activest Wealth Management acquired a new position in shares of Tenet Healthcare in the 4th quarter worth $26,000. Elyxium Wealth LLC acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $29,000. Meeder Asset Management Inc. boosted its holdings 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 worth $38,000 after buying an additional 114 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Tenet Healthcare in the 2nd quarter worth approximately $35,000. 95.44% of the stock is currently 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.