Tenet Healthcare (NYSE:THC) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Tenet Healthcare (NYSE:THC) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other brokerages also recently weighed in on THC. Royal Bank Of Canada raised their price objective on Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $305.00 price target on shares of Tenet Healthcare in a report on Tuesday, July 28th. Wells Fargo & Company boosted their price objective on shares of Tenet Healthcare from $231.00 to $281.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Barclays raised their target price on shares of Tenet Healthcare from $240.00 to $271.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Finally, Truist Financial lifted their target price on shares of Tenet Healthcare from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.00.

Tenet Healthcare Stock Down 1.0%

THC stock opened at $265.18 on Friday. The firm has a market cap of $21.35 billion, a PE ratio of 10.23, a PEG ratio of 1.02 and a beta of 1.23. Tenet Healthcare has a 1 year low of $157.58 and a 1 year high of $270.57. The company has a fifty day simple moving average of $212.24 and a 200 day simple moving average of $204.56. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.26 by $1.86. The company 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 last year, the company earned $4.02 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Sell-side analysts anticipate that Tenet Healthcare will post 20.97 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 10,878 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $243.90, for a total transaction of $2,653,144.20. Following the completion of the transaction, the executive vice president directly owned 18,413 shares in the company, valued at $4,490,930.70. This represents a 37.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher S. Lynch sold 3,837 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $243.44, for a total transaction of $934,079.28. Following the completion of the transaction, the director owned 9,568 shares in the company, valued at approximately $2,329,233.92. This trade represents a 28.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 41,375 shares of company stock valued at $9,793,347. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of Tenet Healthcare

Several large investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its holdings in shares of Tenet Healthcare by 6.1% in the first quarter. NewEdge Advisors LLC now owns 2,890 shares of the company’s stock valued at $389,000 after buying an additional 166 shares during the last quarter. Jones Financial Companies Lllp increased its position in Tenet Healthcare by 299.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company’s stock valued at $229,000 after acquiring an additional 1,274 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Tenet Healthcare in the second quarter worth about $290,000. Quantbot Technologies LP acquired a new position in shares of Tenet Healthcare during the second quarter worth approximately $65,000. Finally, Amundi increased its holdings in shares of Tenet Healthcare by 4,207.8% in the second quarter. Amundi now owns 27,010 shares of the company’s stock valued at $4,652,000 after purchasing an additional 26,383 shares in the last quarter. 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.