Tenet Healthcare (NYSE:THC) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Tenet Healthcare (NYSE:THC) from a buy rating to a hold rating in a report issued on Saturday.

THC has been the topic of a number of other reports. TD Cowen decreased their price objective on Tenet Healthcare from $242.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Stephens cut their price target on Tenet Healthcare from $275.00 to $260.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Barclays raised their price target on Tenet Healthcare from $238.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Morgan Stanley set a $254.00 price objective on Tenet Healthcare in a report on Friday, May 1st. Finally, Royal Bank Of Canada reduced their target price on shares of Tenet Healthcare from $277.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $245.37.

Tenet Healthcare Stock Down 2.2%

Shares of NYSE:THC opened at $194.89 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.36 and a debt-to-equity ratio of 1.96. The firm has a market cap of $16.79 billion, a P/E ratio of 10.13, a P/E/G ratio of 1.61 and a beta of 1.27. Tenet Healthcare has a 12 month low of $146.60 and a 12 month high of $247.21. The company’s 50-day moving average price is $184.35 and its two-hundred day moving average price is $197.48.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.61. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.39 billion. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $4.36 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, research analysts forecast that Tenet Healthcare will post 17.5 EPS for the current fiscal year.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,638 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,932,634.08. This trade represents a 25.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nadja West sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total value of $532,050.00. Following the completion of the sale, the director directly owned 24,805 shares of the company’s stock, valued at approximately $4,399,166.75. This trade represents a 10.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in THC. Price T Rowe Associates Inc. MD raised its stake in Tenet Healthcare by 1.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,490,350 shares of the company’s stock worth $1,488,484,000 after buying an additional 119,809 shares during the period. Boston Partners increased its holdings in shares of Tenet Healthcare by 15.7% in the fourth quarter. Boston Partners now owns 3,642,136 shares of the company’s stock worth $723,804,000 after acquiring an additional 494,581 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Tenet Healthcare by 20.3% during the fourth quarter. AQR Capital Management LLC now owns 2,256,539 shares of the company’s stock worth $448,419,000 after purchasing an additional 380,116 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Tenet Healthcare by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock valued at $373,020,000 after purchasing an additional 157,109 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at approximately $248,494,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

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.