Tenet Healthcare (NYSE:THC) Upgraded by BMO Capital Markets to Hold Rating

BMO Capital Markets upgraded shares of Tenet Healthcare (NYSE:THC) to a hold rating in a research report released on Tuesday,Zacks reports.

A number of other equities analysts have also recently issued reports on THC. Truist Financial increased their price target on Tenet Healthcare from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Stephens reiterated an “overweight” rating and set a $285.00 target price on shares of Tenet Healthcare in a research report on Monday, July 27th. UBS Group increased their target price on shares of Tenet Healthcare from $288.00 to $308.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Zacks Research upgraded shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, Robert W. Baird increased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average target price of $277.25.

Tenet Healthcare Stock Performance

Shares of THC opened at $256.23 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00. The firm’s fifty day simple moving average is $254.81 and its two-hundred day simple moving average is $213.49. Tenet Healthcare has a 12 month low of $157.58 and a 12 month high of $283.05. The stock has a market capitalization of $20.63 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) 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 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 EPS. The firm’s 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. As a group, analysts predict that Tenet Healthcare will post 21.04 EPS for the current year.

Insider Activity

In other Tenet Healthcare news, EVP Lisa Foo sold 24,000 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $266.32, for a total value of $6,391,680.00. Following the transaction, the executive vice president directly owned 8,053 shares of the company’s stock, valued at approximately $2,144,674.96. This trade represents a 74.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paola Arbour sold 10,878 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 18,413 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders have sold 131,199 shares of company stock valued at $35,065,587. 0.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

Institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. raised its position in Tenet Healthcare by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 10,457 shares of the company’s stock valued at $1,956,000 after buying an additional 446 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Tenet Healthcare by 8.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,680 shares of the company’s stock worth $1,811,000 after acquiring an additional 788 shares in the last quarter. Talon Private Wealth LLC raised its holdings in shares of Tenet Healthcare by 35.4% in the second quarter. Talon Private Wealth LLC now owns 23,097 shares of the company’s stock valued at $4,321,000 after purchasing an additional 6,044 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Tenet Healthcare by 54.5% during the second quarter. Sequoia Financial Advisors LLC now owns 2,312 shares of the company’s stock worth $433,000 after purchasing an additional 816 shares during the last quarter. Finally, Tidal Investments LLC grew its position in Tenet Healthcare by 0.6% in the 2nd quarter. Tidal Investments LLC now owns 13,296 shares of the company’s stock worth $2,487,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

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.