Tenet Healthcare (NYSE:THC) Stock Price Up 7.3% – Here’s What Happened

Tenet Healthcare Corporation (NYSE:THC)’s share price shot up 7.3% during mid-day trading on Thursday . The company traded as high as $205.73 and last traded at $205.1840. Approximately 560,331 shares traded hands during trading, a decline of 55% from the average daily volume of 1,240,793 shares. The stock had previously closed at $191.20.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on THC shares. Wells Fargo & Company dropped their target price on shares of Tenet Healthcare from $265.00 to $213.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. KeyCorp decreased their price objective on shares of Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. TD Cowen cut their target price on Tenet Healthcare from $242.00 to $233.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Weiss Ratings downgraded Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Finally, Mizuho boosted their price target on Tenet Healthcare from $235.00 to $265.00 and gave the stock an “outperform” rating in a report on Thursday, March 12th. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $244.32.

Tenet Healthcare Stock Up 7.0%

The company has a market capitalization of $17.62 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.54 and a beta of 1.27. 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 firm’s fifty day moving average is $180.84 and its 200-day moving average is $197.22.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.61. The firm had revenue of $5.37 billion for 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 company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $4.36 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, equities research analysts predict that Tenet Healthcare Corporation will post 17.61 EPS for the current year.

Insiders Place Their Bets

In other news, Director Nadja West sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $177.35, for a total transaction of $532,050.00. Following the sale, the director directly owned 24,805 shares in the company, valued at approximately $4,399,166.75. The trade was a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J Robert Kerrey sold 5,638 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 16,804 shares of the company’s stock, valued at $2,932,634.08. This represents a 25.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Triumph Capital Management bought a new position in shares of Tenet Healthcare during the third quarter valued at $25,000. Activest Wealth Management bought a new stake in shares of Tenet Healthcare in the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new stake in Tenet Healthcare in the fourth quarter valued at $29,000. Canada Pension Plan Investment Board acquired a new position in Tenet Healthcare during the 2nd quarter worth about $35,000. Finally, Meeder Asset Management Inc. grew its position in shares of Tenet Healthcare by 146.2% in the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock valued at $38,000 after buying an additional 114 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

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.