Tenet Healthcare (NYSE:THC) Earns Outperform Rating from Leerink Partners

Tenet Healthcare (NYSE:THC)‘s stock had its “outperform” rating reaffirmed by investment analysts at Leerink Partners in a research note issued on Friday, Benzinga reports. They currently have a $309.00 price target on the stock. Leerink Partners’ price target would suggest a potential upside of 18.28% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company raised their price target on Tenet Healthcare from $231.00 to $281.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Raymond James Financial reissued an “outperform” rating and issued a $285.00 target price on shares of Tenet Healthcare in a report on Friday, August 14th. Robert W. Baird upped their price target on shares of Tenet Healthcare from $210.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Weiss Ratings raised shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 20th. Finally, Guggenheim upped their target price on shares of Tenet Healthcare from $242.00 to $283.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Tenet Healthcare has an average rating of “Buy” and an average price target of $277.89.

Tenet Healthcare Price Performance

THC stock traded down $0.66 during midday trading on Friday, hitting $261.24. The company’s stock had a trading volume of 122,063 shares, compared to its average volume of 1,178,236. Tenet Healthcare has a 12 month low of $157.58 and a 12 month high of $283.05. The company has a 50 day moving average of $249.50 and a two-hundred day moving average of $212.95. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 1.01 and a beta of 1.23.

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

Insider Buying and Selling at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 50,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $278.71, for a total transaction of $13,935,500.00. Following the transaction, the chief executive officer directly owned 483,564 shares in the company, valued at approximately $134,774,122.44. This represents a 9.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Y. Foo sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $266.32, for a total value of $6,391,680.00. Following the transaction, the executive vice president owned 8,053 shares of the company’s stock, valued at $2,144,674.96. This trade represents a 74.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 131,199 shares of company stock valued at $35,065,587. 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 modified their holdings of the business. Norges Bank acquired a new position in shares of Tenet Healthcare during the fourth quarter worth $248,494,000. Manning & Napier Advisors LLC acquired a new position in Tenet Healthcare during the 2nd quarter valued at about $168,761,000. Bank of New York Mellon Corp purchased a new stake in shares of Tenet Healthcare during the second quarter worth about $106,342,000. Boston Partners raised its position in shares of 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 purchasing an additional 494,581 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in Tenet Healthcare by 78.1% during the 4th quarter. Allianz Asset Management GmbH now owns 868,134 shares of the company’s stock worth $172,516,000 after purchasing an additional 380,632 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

About Tenet Healthcare

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.