Tenet Healthcare (NYSE:THC) Downgraded by Zacks Research to Hold

Tenet Healthcare (NYSE:THC) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

A number of other analysts have also recently commented on the company. Leerink Partners reiterated an “outperform” rating and set a $309.00 price objective on shares of Tenet Healthcare in a research report on Friday, September 18th. Guggenheim lifted their price target on shares of Tenet Healthcare from $242.00 to $283.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Robert W. Baird raised their target price on shares of Tenet Healthcare from $210.00 to $280.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Wall Street Zen raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 23rd. Finally, Morgan Stanley upped their target price on Tenet Healthcare from $254.00 to $274.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Eighteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $277.25.

Tenet Healthcare Stock Down 0.6%

Shares of NYSE THC opened at $256.06 on Tuesday. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 0.98 and a beta of 1.23. Tenet Healthcare has a 52 week low of $157.58 and a 52 week high of $283.05. The firm has a 50-day moving average price of $260.82 and a 200 day moving average price of $214.24. 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 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. 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 the consensus estimate of $5.43 billion. During the same period in the previous year, the business earned $4.02 earnings per share. Tenet Healthcare’s quarterly 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. Equities research analysts anticipate that Tenet Healthcare will post 21.04 EPS for the current fiscal year.

Insider Activity

In other news, Director J. Robert Kerrey sold 12,010 shares of Tenet Healthcare 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. This trade represents a 71.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Mark sold 10,000 shares of Tenet Healthcare stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the sale, the director directly owned 25,121 shares in the company, valued at $6,617,373.82. This trade represents a 28.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 131,199 shares of company stock worth $35,065,587 in the last ninety days. 0.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Trust Co. of Vermont bought a new position in Tenet Healthcare during the second quarter worth $37,000. OP Asset Management Ltd acquired a new stake in shares of Tenet Healthcare during the first quarter worth $49,000. Compass Financial Management LLC bought a new position in shares of Tenet Healthcare in the 2nd quarter worth about $57,000. William B. Walkup & Associates Inc. boosted its holdings in shares of Tenet Healthcare by 88.7% in the 4th quarter. William B. Walkup & Associates Inc. now owns 302 shares of the company’s stock valued at $60,000 after buying an additional 142 shares during the period. Finally, Capital Advisors Ltd. LLC grew its position in shares of Tenet Healthcare by 11,933.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company’s stock valued at $68,000 after buying an additional 358 shares during the last quarter. Institutional investors and hedge funds 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.