Tenet Healthcare Corporation (NYSE:THC – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $271.17 and last traded at $270.2950, with a volume of 94956 shares traded. The stock had previously closed at $264.56.
Wall Street Analyst Weigh In
Several research firms have recently commented on THC. Piper Sandler set a $308.00 price target on shares of Tenet Healthcare in a research note on Monday, July 27th. Weiss Ratings lowered Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tenet Healthcare in a research note on Monday, July 27th. Raymond James Financial reiterated an “outperform” rating and issued a $285.00 price objective on shares of Tenet Healthcare in a research report on Friday, August 14th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $305.00 target price on shares of Tenet Healthcare in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $273.00.
Tenet Healthcare Trading Down 0.4%
Tenet Healthcare (NYSE:THC – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.26 by $1.86. The business had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.43 billion. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. Tenet Healthcare’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.02 EPS. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Analysts anticipate that Tenet Healthcare Corporation will post 20.97 EPS for the current year.
Insiders Place Their Bets
In related news, Director Christopher S. Lynch sold 3,837 shares of the firm’s stock in a transaction 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 sale, the director 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roy Blunt sold 600 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $262.68, for a total value of $157,608.00. Following the completion of the transaction, the director directly owned 4,589 shares of the company’s stock, valued at approximately $1,205,438.52. The trade was a 11.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,375 shares of company stock worth $9,793,347 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Tenet Healthcare
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Swedbank AB lifted its holdings in shares of Tenet Healthcare by 14.7% in the fourth quarter. Swedbank AB now owns 146,133 shares of the company’s stock valued at $29,040,000 after purchasing an additional 18,750 shares in the last quarter. Hsbc Holdings PLC raised its position in Tenet Healthcare by 3,478.7% in the 4th quarter. Hsbc Holdings PLC now owns 266,400 shares of the company’s stock valued at $53,269,000 after buying an additional 258,956 shares during the last quarter. Jackson Creek Investment Advisors LLC lifted its stake 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 acquiring an additional 6,341 shares in the last quarter. M&T Bank Corp boosted its position in Tenet Healthcare by 1,944.8% during the 4th quarter. M&T Bank Corp now owns 104,304 shares of the company’s stock worth $20,727,000 after acquiring an additional 99,203 shares during the last quarter. Finally, Brandywine Global Investment Management LLC grew its stake in shares of Tenet Healthcare by 20.5% during the 4th quarter. Brandywine Global Investment Management LLC now owns 126,248 shares of the company’s stock worth $25,088,000 after acquiring an additional 21,435 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.
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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