Tenet Healthcare (NYSE:THC) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of Tenet Healthcare (NYSE:THC) from a strong-buy rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other research analysts also recently commented on the company. Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Royal Bank Of Canada increased their price objective on shares of Tenet Healthcare from $236.00 to $283.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Wells Fargo & Company raised their price target 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. Barclays raised their target price on Tenet Healthcare from $240.00 to $271.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Finally, UBS Group increased their target price on shares of Tenet Healthcare from $288.00 to $308.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $277.25.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $258.37 on Friday. The company has a market cap of $20.80 billion, a PE ratio of 9.96, a P/E/G ratio of 0.99 and a beta of 1.20. Tenet Healthcare has a 12 month low of $157.58 and a 12 month high of $283.05. The company has a fifty day moving average price of $262.41 and a two-hundred day moving average price of $214.73. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.41 and a quick ratio of 1.35.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.26 by $1.86. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The company had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the firm posted $4.02 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Research analysts expect that Tenet Healthcare will post 21.04 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J. Robert Kerrey sold 12,010 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $263.72, for a total transaction of $3,167,277.20. Following the sale, the director owned 4,794 shares in the company, valued at $1,264,273.68. The trade was a 71.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nadja West sold 1,152 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $258.80, for a total value of $298,137.60. Following the completion of the sale, the director owned 23,653 shares of the company’s stock, valued at $6,121,396.40. The trade was a 4.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 131,199 shares of company stock valued at $35,065,587 over the last three months. 0.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in THC. Manning & Napier Advisors LLC acquired a new stake in shares of Tenet Healthcare in the second quarter valued at about $168,761,000. Bank of New York Mellon Corp bought a new stake in shares of Tenet Healthcare in the second quarter valued at approximately $106,342,000. Boston Partners increased its holdings in shares of Tenet Healthcare by 15.7% during the 4th 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 period. Allianz Asset Management GmbH grew its position in Tenet Healthcare by 78.1% during the fourth quarter. Allianz Asset Management GmbH now owns 868,134 shares of the company’s stock worth $172,516,000 after buying an additional 380,632 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Tenet Healthcare by 3,478.7% during the fourth quarter. Hsbc Holdings PLC now owns 266,400 shares of the company’s stock valued at $53,269,000 after acquiring an additional 258,956 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Company Profile

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.