Tenet Healthcare Corporation (NYSE:THC) Receives $275.53 Consensus Target Price from Brokerages

Tenet Healthcare Corporation (NYSE:THC) has been given an average rating of “Buy” by the twenty analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $275.5263.

THC has been the topic of several research analyst reports. Truist Financial boosted their price target on Tenet Healthcare from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tenet Healthcare in a report on Monday, July 27th. Zacks Research upgraded shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Barclays lifted their target price on shares of Tenet Healthcare from $240.00 to $271.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, Royal Bank Of Canada increased their target price on Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a report on Monday, July 27th.

Insider Transactions at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 50,000 shares of the company’s stock in a transaction that occurred on 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 owned 483,564 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Also, EVP Paola M. Arbour sold 10,878 shares of Tenet Healthcare 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 sale, the executive vice president directly owned 18,413 shares of the company’s stock, valued at $4,490,930.70. The trade was a 37.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 109,189 shares of company stock worth $29,264,109 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Tenet Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its position in Tenet Healthcare by 18,362.2% during the second quarter. California State Teachers Retirement System now owns 18,885,726 shares of the company’s stock worth $3,533,142,000 after buying an additional 18,783,432 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Tenet Healthcare by 1.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,490,350 shares of the company’s stock valued at $1,488,484,000 after purchasing an additional 119,809 shares during the period. Boston Partners increased its position in Tenet Healthcare by 15.7% during the fourth quarter. Boston Partners now owns 3,642,136 shares of the company’s stock worth $723,804,000 after purchasing an additional 494,581 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Tenet Healthcare by 20.3% in the 4th quarter. AQR Capital Management LLC now owns 2,256,539 shares of the company’s stock valued at $448,419,000 after purchasing an additional 380,116 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Tenet Healthcare by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock valued at $373,020,000 after buying an additional 157,109 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $263.01 on Friday. The company has a market cap of $21.18 billion, a P/E ratio of 10.14, a PEG ratio of 1.01 and a beta of 1.23. The company has a 50-day moving average price of $245.01 and a 200 day moving average price of $212.25. Tenet Healthcare has a 52 week low of $157.58 and a 52 week high of $283.05. 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 results on Thursday, July 23rd. 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 return on equity of 26.76% and a net margin of 10.27%.The firm had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the business earned $4.02 earnings per share. The company’s revenue for the quarter 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. Research analysts predict that Tenet Healthcare will post 21.04 earnings per share for the current year.

Tenet Healthcare Company Profile

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.