Tenet Healthcare (NYSE:THC) Shares Gap Up After Better-Than-Expected Earnings

Tenet Healthcare Corporation (NYSE:THC)’s stock price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $199.02, but opened at $235.01. Tenet Healthcare shares last traded at $244.4420, with a volume of 833,784 shares trading hands.

The company reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.26 by $1.86. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The firm had revenue of $6.04 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the firm earned $4.02 EPS. The business’s revenue was up 6.8% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS.

More Tenet Healthcare News

Here are the key news stories impacting Tenet Healthcare this week:

• Positive Sentiment: Tenet reported Q2 2026 earnings of $6.12 per share, well above expectations, and revenue of $5.63 billion, also ahead of Wall Street estimates. Management said stronger same-store revenue growth and expense control drove the beat. Article title
• Positive Sentiment: The company raised FY 2026 guidance, now calling for EPS of $20.30 to $21.69 versus prior expectations around $17.81, while revenue outlook of $21.9 billion to $22.5 billion remains broadly in line with consensus. Article title
• Positive Sentiment: Investors were already positioning for the report as the stock benefited from an improving credit profile, including Moody’s June upgrade, which signaled continued deleveraging and better financial flexibility. Article title
• Neutral Sentiment: Analysts have been generally constructive, with recent price targets and a consensus “Moderate Buy” stance providing additional support, but this is more of a backdrop than a fresh catalyst. Article title
• Negative Sentiment: Insider and congressional trading trends show more selling than buying over the past several months, which could temper enthusiasm, although this does not appear to be driving the stock’s move today. Article title

Analysts Set New Price Targets

A number of brokerages have commented on THC. Guggenheim reduced their price objective on Tenet Healthcare from $252.00 to $242.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank Of Canada reduced their target price on Tenet Healthcare from $277.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Weiss Ratings lowered shares of Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. KeyCorp dropped their price objective on shares of Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Finally, Wall Street Zen lowered shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average target price of $246.47.

Insiders Place Their Bets

In other news, Director Nadja West sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were 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 of the company’s stock, valued at approximately $4,399,166.75. This represents a 10.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Robert Kerrey sold 5,638 shares of Tenet Healthcare stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $174.52, for a total transaction of $983,943.76. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of THC. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tenet Healthcare by 1.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,490,350 shares of the company’s stock worth $1,488,484,000 after acquiring an additional 119,809 shares in the last quarter. Boston Partners raised its position 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 purchasing an additional 494,581 shares during the last quarter. AQR Capital Management LLC boosted its stake in Tenet Healthcare by 20.3% in the fourth quarter. AQR Capital Management LLC now owns 2,256,539 shares of the company’s stock worth $448,419,000 after purchasing an additional 380,116 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Tenet Healthcare by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock worth $373,020,000 after purchasing an additional 157,109 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Tenet Healthcare in the fourth quarter valued at about $248,494,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Trading Up 22.8%

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 has a market cap of $21.04 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 1.62 and a beta of 1.27. The company’s 50-day moving average is $184.43 and its 200-day moving average is $197.37.

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.