Tenet Healthcare (NYSE:THC) Sets New 52-Week High Following Analyst Upgrade

Tenet Healthcare Corporation (NYSE:THC) shares hit a new 52-week high during mid-day trading on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $265.83 and last traded at $265.58, with a volume of 169186 shares trading hands. The stock had previously closed at $259.45.

THC has been the topic of a number of other reports. Barclays raised 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. The Goldman Sachs Group reiterated a “buy” rating and issued a $305.00 price target on shares of Tenet Healthcare in a report on Tuesday, July 28th. Royal Bank Of Canada lifted their price objective on shares of Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Wall Street Zen upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $285.00 target price on shares of Tenet Healthcare in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $272.25.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 10,000 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $258.03, for a total value of $2,580,300.00. Following the completion of the transaction, the executive vice president owned 32,053 shares in the company, valued at approximately $8,270,635.59. This represents a 23.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher S. Lynch sold 3,837 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $243.44, for a total transaction of $934,079.28. Following the transaction, the director directly owned 9,568 shares of the company’s stock, valued at approximately $2,329,233.92. This trade represents a 28.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 41,375 shares of company stock valued at $9,793,347. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of THC. Swedbank AB raised its stake in shares of Tenet Healthcare by 14.7% in the 4th quarter. Swedbank AB now owns 146,133 shares of the company’s stock valued at $29,040,000 after acquiring an additional 18,750 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of 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 purchasing an additional 258,956 shares during the period. Jackson Creek Investment Advisors LLC increased its holdings in Tenet Healthcare by 235.6% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 9,032 shares of the company’s stock valued at $1,795,000 after buying an additional 6,341 shares during the period. Brandywine Global Investment Management LLC increased its stake in Tenet Healthcare by 20.5% in the fourth quarter. Brandywine Global Investment Management LLC now owns 126,248 shares of the company’s stock valued at $25,088,000 after acquiring an additional 21,435 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in Tenet Healthcare in the 1st quarter valued at $4,812,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41. The firm has a market capitalization of $21.52 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 1.02 and a beta of 1.23. The stock has a 50-day moving average of $208.09 and a 200 day moving average of $203.48.

Tenet Healthcare (NYSE:THC) last issued its 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. The firm had revenue of $6.04 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.02 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. On average, research analysts anticipate that Tenet Healthcare Corporation will post 21.07 earnings per share for the current year.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.