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

Tenet Healthcare (NYSE:THC) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Other analysts have also issued reports about the company. Zacks Research lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Leerink Partners restated an “outperform” rating and issued a $309.00 price objective on shares of Tenet Healthcare in a report on Friday, September 18th. Guggenheim lifted their target price on shares of Tenet Healthcare from $242.00 to $283.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada increased their target price on shares of Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Finally, Mizuho set a $290.00 price target on shares of Tenet Healthcare in a research note on Monday, August 10th. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $277.25.

Tenet Healthcare Stock Down 0.1%

THC opened at $258.37 on Friday. The company has a market cap of $20.80 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. Tenet Healthcare has a twelve month low of $157.58 and a twelve month high of $283.05. The company has a 50-day moving average price of $262.41 and a 200 day moving average price of $214.70. 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 (NYSE:THC) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The company had revenue of $6.04 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the previous year, the firm posted $4.02 EPS. Tenet Healthcare’s revenue was up 6.8% compared to the same quarter last year. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Sell-side analysts expect that Tenet Healthcare will post 21.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Saumya Sutaria sold 50,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $278.71, for a total value of $13,935,500.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lisa Foo sold 24,000 shares of Tenet Healthcare stock in a transaction 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 completion of the sale, the executive vice president owned 8,053 shares in the company, valued at $2,144,674.96. This represents a 74.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 131,199 shares of company stock valued at $35,065,587 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Boston Partners raised its stake 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 acquiring an additional 494,581 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $168,761,000. Allianz Asset Management GmbH increased its holdings in Tenet Healthcare by 78.1% in the 4th quarter. Allianz Asset Management GmbH now owns 868,134 shares of the company’s stock valued at $172,516,000 after purchasing an additional 380,632 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Tenet Healthcare by 57.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company’s stock valued at $126,757,000 after purchasing an additional 244,901 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Tenet Healthcare during the second quarter worth $106,342,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

About Tenet Healthcare

Tenet Healthcare Corporation is a Dallas-based healthcare services company that operates hospitals, outpatient facilities and other healthcare businesses across the United States. Its operations include acute care hospitals, specialty hospitals, ambulatory surgery centers and related outpatient services.

Through its United Surgical Partners International subsidiary, Tenet is one of the major operators and developers of ambulatory surgery centers in the United States. These facilities provide same-day surgical procedures and other outpatient care across a range of medical specialties.