Wall Street Zen lowered shares of Tenet Healthcare (NYSE:THC – Free Report) from a buy rating to a hold rating in a research report report published on Saturday.
THC has been the topic of a number of other research reports. Guggenheim decreased their price target on shares of Tenet Healthcare from $283.00 to $252.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. KeyCorp reduced their target price on shares of Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Weiss Ratings downgraded shares of Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Wells Fargo & Company boosted their price objective on Tenet Healthcare from $213.00 to $231.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Finally, Royal Bank Of Canada cut their target price on Tenet Healthcare from $277.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average price target of $244.84.
Read Our Latest Research Report on Tenet Healthcare
Tenet Healthcare Stock Performance
Tenet Healthcare (NYSE:THC – Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.61. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.39 billion. Tenet Healthcare had a return on equity of 25.55% and a net margin of 7.94%.The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $4.36 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, sell-side analysts forecast that Tenet Healthcare will post 17.5 earnings per share for the current fiscal year.
Insider Activity at Tenet Healthcare
In other news, Director J Robert Kerrey sold 5,638 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total transaction of $983,943.76. Following the transaction, the director owned 16,804 shares of the company’s stock, valued at approximately $2,932,634.08. This represents a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nadja West sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $177.35, for a total value of $532,050.00. Following the sale, the director directly owned 24,805 shares of the company’s stock, valued at $4,399,166.75. This represents a 10.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Triumph Capital Management bought a new position in Tenet Healthcare in the 3rd quarter worth about $25,000. Activest Wealth Management bought a new stake in shares of Tenet Healthcare during the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new position in Tenet Healthcare in the fourth quarter worth approximately $29,000. Canada Pension Plan Investment Board purchased a new position in Tenet Healthcare during the 2nd quarter worth $35,000. Finally, Meeder Asset Management Inc. raised its position in Tenet Healthcare by 146.2% during the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.
About Tenet Healthcare
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.
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