Tenet Healthcare (NYSE:THC) Director Sells $361,439.00 in Stock

Tenet Healthcare Corporation (NYSE:THC) Director Cecil Haney sold 1,300 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $278.03, for a total value of $361,439.00. Following the completion of the transaction, the director directly owned 12,553 shares in the company, valued at $3,490,110.59. This represents a 9.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Tenet Healthcare Trading Down 0.4%

Tenet Healthcare stock opened at $266.60 on Friday. The stock has a 50-day moving average price of $229.98 and a 200 day moving average price of $209.53. The company has a market capitalization of $21.47 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 1.02 and a beta of 1.23. Tenet Healthcare Corporation has a 52 week low of $157.58 and a 52 week high of $283.05. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.26 by $1.86. The company had revenue of $6.04 billion during 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 revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $4.02 EPS. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Sell-side analysts anticipate that Tenet Healthcare Corporation will post 20.98 EPS for the current year.

Hedge Funds Weigh In On Tenet Healthcare

A number of large investors have recently added to or reduced their stakes in the stock. Triumph Capital Management purchased a new stake in shares of Tenet Healthcare during the third quarter worth about $25,000. Activest Wealth Management acquired a new stake in Tenet Healthcare in the 4th quarter worth about $26,000. Elyxium Wealth LLC purchased a new stake in Tenet Healthcare during the 4th quarter worth approximately $29,000. Canada Pension Plan Investment Board acquired a new position in Tenet Healthcare in the 2nd quarter valued at $35,000. Finally, Trust Co. of Vermont purchased a new position in Tenet Healthcare in the 2nd quarter valued at $37,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on THC. Wall Street Zen raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 23rd. KeyCorp lowered their target price on Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tenet Healthcare in a research report on Monday, July 27th. Raymond James Financial restated an “outperform” rating and issued a $285.00 price objective on shares of Tenet Healthcare in a research report on Friday, August 14th. Finally, Mizuho set a $290.00 target price on shares of Tenet Healthcare in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Buy” and a consensus target price of $273.00.

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.