Tenet Healthcare’s (THC) “Outperform” Rating Reiterated at Leerink Partners

Leerink Partners reiterated their outperform rating on shares of Tenet Healthcare (NYSE:THC) in a research report report published on Friday,Benzinga reports. They currently have a $309.00 price target on the stock.

Other equities analysts also recently issued reports about the company. Piper Sandler set a $308.00 price target on Tenet Healthcare in a research report on Monday, July 27th. The Goldman Sachs Group reissued a “buy” rating and issued a $305.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, July 28th. Barclays upped 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. Mizuho set a $290.00 price target on Tenet Healthcare in a report on Monday, August 10th. Finally, Stephens restated an “overweight” rating and set a $285.00 price target on shares of Tenet Healthcare in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $277.89.

Tenet Healthcare Stock Performance

THC stock opened at $261.46 on Friday. Tenet Healthcare has a one year low of $157.58 and a one year high of $283.05. The firm has a market cap of $21.05 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.00 and a beta of 1.23. 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 50-day simple moving average of $250.64 and a two-hundred day simple moving average of $213.13.

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

Insider Buying and Selling

In related news, Director J. Robert Kerrey sold 12,010 shares of the firm’s stock in a transaction 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 completion of the transaction, the director owned 4,794 shares of the company’s stock, valued at $1,264,273.68. This trade represents a 71.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Saumya Sutaria sold 50,000 shares of the business’s stock in a transaction on 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 owned 483,564 shares of the company’s stock, valued at $134,774,122.44. This represents a 9.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 131,199 shares of company stock worth $35,065,587 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the stock. Elyxium Wealth LLC purchased a new position in Tenet Healthcare during the fourth quarter valued at approximately $29,000. Trust Co. of Vermont purchased a new stake in Tenet Healthcare in the 2nd quarter worth approximately $37,000. OP Asset Management Ltd acquired a new stake in shares of Tenet Healthcare during the 1st quarter worth approximately $49,000. Compass Financial Management LLC purchased a new position in shares of Tenet Healthcare during the 2nd quarter valued at approximately $57,000. Finally, William B. Walkup & Associates Inc. lifted its stake 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 purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.