Tenet Healthcare (NYSE:THC) Stock Rating Cut to “Hold” at Zacks Research

by · The Markets Daily

Zacks Research lowered shares of Tenet Healthcare (NYSE:THC – Free Report) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks reports.

THC has been the subject of several other research reports. Mizuho set a $290.00 price target on shares of Tenet Healthcare in a research note on Monday, August 10th. Piper Sandler set a $308.00 price objective on Tenet Healthcare in a report on Monday, July 27th. Leerink Partners reissued an “outperform” rating and set a $309.00 target price on shares of Tenet Healthcare in a research note on Friday, September 18th. Stephens restated an “overweight” rating and issued a $285.00 target price on shares of Tenet Healthcare in a research report on Monday, July 27th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $305.00 price target on shares of Tenet Healthcare in a report on Tuesday, July 28th. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $277.25.

Check Out Our Latest Stock Analysis on THC

Tenet Healthcare Stock Down 0.6%

Shares of THC opened at $256.06 on Tuesday. Tenet Healthcare 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. The stock has a fifty day simple moving average of $260.82 and a two-hundred day simple moving average of $214.24. The company has a market capitalization of $20.62 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 0.98 and a beta of 1.23.

Tenet Healthcare (NYSE:THC – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The firm had revenue of $6.04 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the company posted $4.02 EPS. The company’s 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. As a group, equities analysts forecast that Tenet Healthcare will post 21.04 EPS for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $278.71, for a total value of $13,935,500.00. Following the sale, the chief executive officer owned 483,564 shares of the company’s stock, valued at $134,774,122.44. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director J. Robert Kerrey sold 12,010 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $263.72, for a total value of $3,167,277.20. Following the transaction, the director owned 4,794 shares of the company’s stock, valued at approximately $1,264,273.68. This represents a 71.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 131,199 shares of company stock worth $35,065,587 in the last three months. Company insiders own 0.97% of the company’s stock.

Institutional Trading of Tenet Healthcare

Several hedge funds have recently made changes to their positions in THC. Trust Co. of Vermont acquired a new position in shares of Tenet Healthcare in the second quarter valued at approximately $37,000. OP Asset Management Ltd purchased a new position in Tenet Healthcare in the 1st quarter valued at approximately $49,000. Compass Financial Management LLC acquired a new position in shares of Tenet Healthcare in the second quarter worth $57,000. William B. Walkup & Associates Inc. increased its position in shares of Tenet Healthcare by 88.7% during the fourth quarter. William B. Walkup & Associates Inc. now owns 302 shares of the company’s stock worth $60,000 after acquiring an additional 142 shares during the period. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Tenet Healthcare by 11,933.3% in the first quarter. Capital Advisors Ltd. LLC now owns 361 shares of the company’s stock valued at $68,000 after acquiring an additional 358 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

About Tenet Healthcare

(Get Free Report)

Tenet Healthcare Corporation is a Dallas-based healthcare services company that operates hospitals, outpatient facilities and other healthcare businesses across the United States. Its operations include acute care hospitals, specialty hospitals, ambulatory surgery centers and related outpatient services.

Through its United Surgical Partners International subsidiary, Tenet is one of the major operators and developers of ambulatory surgery centers in the United States. These facilities provide same-day surgical procedures and other outpatient care across a range of medical specialties.

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