Tenet Healthcare (NYSE:THC) Stock Rated “Market Perform” in New Coverage at BMO Capital Markets

Equities researchers at BMO Capital Markets started coverage on shares of Tenet Healthcare (NYSE:THC) in a research note issued on Tuesday, MarketBeat reports. The brokerage set a “market perform” rating and a $265.00 price target on the stock. BMO Capital Markets’ price target would indicate a potential upside of 6.13% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Stephens reiterated an “overweight” rating and issued a $285.00 price target on shares of Tenet Healthcare in a report on Monday, July 27th. Wells Fargo & Company upped their price objective on Tenet Healthcare from $231.00 to $281.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Mizuho set a $290.00 target price on Tenet Healthcare in a research report on Monday, August 10th. Barclays upped their price target on shares of Tenet Healthcare from $240.00 to $271.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, Morgan Stanley raised their price target on shares of Tenet Healthcare from $254.00 to $274.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.25.

Tenet Healthcare Trading Down 2.6%

NYSE THC traded down $6.74 on Tuesday, hitting $249.70. 570,635 shares of the stock were exchanged, compared to its average volume of 809,599. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41. Tenet Healthcare has a 52-week low of $157.58 and a 52-week high of $283.05. The firm has a market capitalization of $20.11 billion, a P/E ratio of 9.63, a P/E/G ratio of 1.00 and a beta of 1.23. The stock has a fifty day moving average price of $255.82 and a two-hundred day moving average price of $213.59.

Tenet Healthcare (NYSE:THC) last released its earnings results 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. The firm had revenue of $6.04 billion during the quarter, compared to analyst estimates of $5.43 billion. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $4.02 EPS. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Research analysts forecast that Tenet Healthcare will post 21.04 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 50,000 shares of the stock in a transaction dated 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 directly owned 483,564 shares in the company, valued at $134,774,122.44. This represents a 9.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Mark sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the completion of the sale, the director owned 25,121 shares of the company’s stock, valued at approximately $6,617,373.82. This represents a 28.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 131,199 shares of company stock worth $35,065,587. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors have recently bought and sold shares of THC. PeakShares LLC boosted its holdings in shares of Tenet Healthcare by 3.3% during the first quarter. PeakShares LLC now owns 1,693 shares of the company’s stock worth $319,000 after purchasing an additional 54 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Tenet Healthcare by 0.5% during the first quarter. Sanctuary Advisors LLC now owns 11,900 shares of the company’s stock worth $2,246,000 after buying an additional 57 shares during the period. Applied Finance Capital Management LLC grew its holdings in Tenet Healthcare by 3.8% in the 1st quarter. Applied Finance Capital Management LLC now owns 1,644 shares of the company’s stock valued at $310,000 after buying an additional 60 shares during the period. Tidal Investments LLC increased its stake in shares of Tenet Healthcare by 0.6% during the 2nd quarter. Tidal Investments LLC now owns 13,296 shares of the company’s stock valued at $2,487,000 after acquiring an additional 79 shares during the last quarter. Finally, Foster & Motley Inc. lifted its holdings in shares of Tenet Healthcare by 1.3% during the 1st quarter. Foster & Motley Inc. now owns 9,333 shares of the company’s stock worth $1,761,000 after acquiring an additional 118 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

About Tenet Healthcare

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.