Tenet Healthcare (NYSE:THC) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Tenet Healthcare (NYSE:THC) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on THC. Mizuho set a $290.00 price target on shares of Tenet Healthcare in a research report on Monday. Wells Fargo & Company increased their target price on shares of Tenet Healthcare from $231.00 to $281.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. TD Cowen boosted their price target on Tenet Healthcare from $233.00 to $263.00 and gave the company a “buy” rating in a research note on Monday, July 27th. KeyCorp cut their price target on Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Finally, UBS Group lifted their price objective on Tenet Healthcare from $288.00 to $308.00 and gave the stock a “buy” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $272.25.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $266.87 on Tuesday. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.99 and a beta of 1.23. The business has a 50 day moving average price of $205.96 and a 200 day moving average price of $202.93. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. Tenet Healthcare has a twelve month low of $157.58 and a twelve month high of $269.31.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.26 by $1.86. The company had revenue of $6.04 billion during 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 company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.02 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Research analysts predict that Tenet Healthcare will post 21.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Paola M. Arbour sold 10,878 shares of the firm’s stock in a transaction that occurred 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 owned 18,413 shares in the company, valued at $4,490,930.70. This trade represents a 37.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Y. Foo sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $258.03, for a total value of $2,580,300.00. Following the completion of the sale, the executive vice president owned 32,053 shares in the company, valued at $8,270,635.59. This trade represents a 23.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,375 shares of company stock worth $9,793,347 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

Institutional Trading of Tenet Healthcare

Several large investors have recently added to or reduced their stakes in THC. Globeflex Capital L P acquired a new stake in shares of Tenet Healthcare during the second quarter worth approximately $6,763,000. Compass Financial Management LLC bought a new stake in Tenet Healthcare during the 2nd quarter worth approximately $57,000. Westport Asset Management Inc. acquired a new stake in Tenet Healthcare during the 2nd quarter valued at $187,000. Foster & Motley Inc. bought a new position in Tenet Healthcare in the 2nd quarter valued at $1,628,000. Finally, Trust Co. of Vermont acquired a new position in Tenet Healthcare in the second quarter worth $37,000. 95.44% of the stock is owned by institutional investors.

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.