Tenet Healthcare (NYSE:THC) Price Target Raised to $307.00

Tenet Healthcare (NYSE:THC) had its target price hoisted by Guggenheim from $283.00 to $307.00 in a research report report published on Friday, Marketbeat reports. Guggenheim currently has a buy rating on the stock.

THC has been the topic of several other research reports. Truist Financial boosted their price objective on Tenet Healthcare from $270.00 to $290.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded Tenet Healthcare from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Morgan Stanley raised their target price on Tenet Healthcare from $254.00 to $274.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tenet Healthcare in a research report on Friday, October 2nd. Finally, Zacks Research lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.45.

Tenet Healthcare Stock Up 0.0%

Shares of NYSE THC opened at $267.27 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. The business’s 50 day moving average is $264.36 and its two-hundred day moving average is $219.29. Tenet Healthcare has a 52-week low of $157.58 and a 52-week high of $283.05. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.02 and a beta of 1.20.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 EPS for the quarter, topping the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%. The business had revenue of $6.04 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the business posted $4.02 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Research analysts predict that Tenet Healthcare will post 21.04 EPS for the current year.

Insider Buying and Selling

In other news, Director Richard J. Mark sold 10,000 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the sale, the director owned 25,121 shares of the company’s stock, valued at approximately $6,617,373.82. This represents a 28.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Y. Foo sold 24,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $266.32, for a total value of $6,391,680.00. Following the completion of the sale, the executive vice president owned 8,053 shares in the company, valued at approximately $2,144,674.96. The trade was a 74.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 131,199 shares of company stock worth $35,065,587 over the last three months. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenet Healthcare

Several large investors have recently bought and sold shares of THC. Manning & Napier Advisors LLC acquired a new stake in Tenet Healthcare in the 2nd quarter valued at about $168,761,000. Bank of New York Mellon Corp acquired a new position in shares of Tenet Healthcare during the second quarter worth about $106,342,000. Hsbc Holdings PLC grew its position in shares of Tenet Healthcare by 3,478.7% during the fourth quarter. Hsbc Holdings PLC now owns 266,400 shares of the company’s stock worth $53,269,000 after buying an additional 258,956 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Tenet Healthcare by 57.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company’s stock worth $126,757,000 after buying an additional 244,901 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Tenet Healthcare by 535.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 127,677 shares of the company’s stock worth $24,094,000 after buying an additional 107,600 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

About Tenet Healthcare

Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.

Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.