Tenet Healthcare (NYSE:THC) Sets New 52-Week High – Time to Buy?

Tenet Healthcare Corporation (NYSE:THC)’s stock price hit a new 52-week high on Monday . The company traded as high as $284.60 and last traded at $284.60, with a volume of 476 shares. The stock had previously closed at $280.77.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on THC. Truist Financial lifted their price target on shares of Tenet Healthcare from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Zacks Research upgraded shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Mizuho set a $290.00 target price on Tenet Healthcare in a research report on Monday, August 10th. Raymond James Financial reissued an “outperform” rating and issued a $285.00 price target on shares of Tenet Healthcare in a report on Friday, August 14th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $305.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare currently has an average rating of “Buy” and a consensus price target of $273.00.

Tenet Healthcare Price Performance

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 market cap of $22.92 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.07 and a beta of 1.23. The business has a 50-day simple moving average of $220.53 and a 200 day simple moving average of $206.93.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.26 by $1.86. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The business had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm earned $4.02 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. On average, analysts anticipate that Tenet Healthcare Corporation will post 20.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $258.03, for a total value of $2,580,300.00. Following the transaction, the executive vice president owned 32,053 shares of the company’s stock, valued at $8,270,635.59. This trade represents a 23.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher S. Lynch sold 3,837 shares of Tenet Healthcare stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $243.44, for a total transaction of $934,079.28. Following the transaction, the director directly owned 9,568 shares in the company, valued at $2,329,233.92. This represents a 28.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 41,375 shares of company stock worth $9,793,347. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenet Healthcare

Several institutional investors and hedge funds have recently modified their holdings of THC. Triumph Capital Management bought a new position in shares of Tenet Healthcare during the third quarter worth $25,000. Activest Wealth Management purchased a new stake in Tenet Healthcare in the 4th quarter worth $26,000. Elyxium Wealth LLC bought a new position in shares of Tenet Healthcare during the 4th quarter valued at about $29,000. Canada Pension Plan Investment Board purchased a new stake in shares of Tenet Healthcare in the second quarter worth about $35,000. Finally, Trust Co. of Vermont bought a new stake in Tenet Healthcare in the 2nd quarter worth approximately $37,000. 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.