Tenet Healthcare (NYSE:THC) Receives “Outperform” Rating from Leerink Partners

Tenet Healthcare (NYSE:THC)‘s stock had its “outperform” rating reissued by investment analysts at Leerink Partners in a research note issued on Friday, Benzinga reports. They currently have a $309.00 target price on the stock. Leerink Partners’ price target would suggest a potential upside of 23.75% from the company’s previous close.

A number of other research analysts also recently commented on THC. Raymond James Financial restated an “outperform” rating and set a $285.00 price objective on shares of Tenet Healthcare in a research note on Friday, August 14th. Weiss Ratings upgraded Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 20th. Stephens restated an “overweight” rating and set a $285.00 price objective on shares of Tenet Healthcare in a research note on Monday, July 27th. UBS Group upped their price objective on Tenet Healthcare from $288.00 to $308.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada upped their price objective on Tenet Healthcare from $236.00 to $283.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $277.25.

Tenet Healthcare Stock Performance

Shares of THC stock traded down $6.74 on Friday, hitting $249.70. 570,635 shares of the stock traded hands, compared to its average volume of 1,183,795. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.41 and a quick ratio of 1.35. The company has a market capitalization of $20.11 billion, a PE ratio of 9.63, a PEG ratio of 1.00 and a beta of 1.23. Tenet Healthcare has a 1-year low of $157.58 and a 1-year high of $283.05. The company’s fifty day moving average is $254.81 and its 200 day moving average is $213.49.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.26 by $1.86. The business had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.43 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.02 EPS. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. On average, equities research analysts predict that Tenet Healthcare will post 21.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard J. Mark sold 10,000 shares of Tenet Healthcare stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the transaction, the director directly owned 25,121 shares in the company, valued at approximately $6,617,373.82. This trade represents a 28.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paola M. Arbour sold 10,878 shares of the firm’s 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 transaction, the executive vice president directly owned 18,413 shares of the company’s stock, valued at $4,490,930.70. This represents a 37.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 131,199 shares of company stock valued at $35,065,587. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

A number of institutional investors and hedge funds have recently bought and sold shares of THC. Norges Bank acquired a new stake in Tenet Healthcare in the 4th quarter valued at about $248,494,000. Manning & Napier Advisors LLC acquired a new stake in Tenet Healthcare in the 2nd quarter valued at about $168,761,000. Bank of New York Mellon Corp acquired a new stake in Tenet Healthcare in the 2nd quarter valued at about $106,342,000. Boston Partners lifted its holdings in Tenet Healthcare by 15.7% in the 4th quarter. Boston Partners now owns 3,642,136 shares of the company’s stock valued at $723,804,000 after acquiring an additional 494,581 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Tenet Healthcare by 78.1% in the 4th quarter. Allianz Asset Management GmbH now owns 868,134 shares of the company’s stock valued at $172,516,000 after acquiring an additional 380,632 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company that owns and operates acute care hospitals and other healthcare facilities in the United States. Its hospitals provide services including emergency care, surgery, cardiovascular care, orthopedics, oncology, women’s health and other inpatient and outpatient treatments.

Through its ambulatory business, United Surgical Partners International, Tenet operates and manages ambulatory surgery centers and other outpatient facilities.