Key Points
- Executive sale: EVP Lisa Foo sold 24,000 Tenet Healthcare shares for approximately $6.39 million at an average price of $266.32, reducing her direct ownership by 74.88% to 8,053 shares.
- Strong quarterly results: Tenet reported adjusted earnings of $6.12 per share, beating estimates of $4.26, while revenue reached $6.04 billion and rose 6.8% year over year.
- Positive analyst outlook: Analysts maintain a consensus “Buy” rating with a $273 price target; 95.44% of the company’s shares are owned by hedge funds and other institutional investors.
Tenet Healthcare Corporation (NYSE:THC - Get Free Report) EVP Lisa Foo sold 24,000 shares of the business's stock in a transaction that occurred on Monday, August 31st. The stock was 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 directly owned 8,053 shares in the company, valued at approximately $2,144,674.96. This represents a 74.88% 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.
Tenet Healthcare Stock Down 0.2%
Shares of NYSE:THC opened at $265.35 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00. The stock has a fifty day simple moving average of $233.42 and a two-hundred day simple moving average of $210.44. Tenet Healthcare Corporation has a 12-month low of $157.58 and a 12-month high of $283.05. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.02 and a beta of 1.23.
Tenet Healthcare (NYSE:THC - Get Free Report) last issued 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. The firm had revenue of $6.04 billion during the quarter, compared to the consensus estimate of $5.43 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The company's revenue was up 6.8% on a year-over-year basis. During the same period last year, the company earned $4.02 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. On average, research analysts anticipate that Tenet Healthcare Corporation will post 20.98 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have commented on THC shares. Royal Bank Of Canada increased their target price on Tenet Healthcare from $236.00 to $283.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Wall Street Zen upgraded shares of Tenet Healthcare from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 23rd. UBS Group boosted their price objective on shares of Tenet Healthcare from $288.00 to $308.00 and gave the company a "buy" rating in a report on Monday, July 27th. Truist Financial increased their price target on Tenet Healthcare from $270.00 to $290.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Finally, Guggenheim increased their target price on Tenet Healthcare from $242.00 to $283.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $273.00.
View Our Latest Research Report on Tenet Healthcare
Hedge Funds Weigh In On Tenet Healthcare
Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in shares of Tenet Healthcare by 6.1% in the first quarter. NewEdge Advisors LLC now owns 2,890 shares of the company's stock worth $389,000 after purchasing an additional 166 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Tenet Healthcare by 299.1% during the first quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company's stock worth $229,000 after purchasing an additional 1,274 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Tenet Healthcare during the 2nd quarter valued at approximately $290,000. Quantbot Technologies LP bought a new stake in shares of Tenet Healthcare during the second quarter valued at approximately $65,000. Finally, Amundi increased its holdings in Tenet Healthcare by 4,207.8% in the 2nd quarter. Amundi now owns 27,010 shares of the company's stock valued at $4,652,000 after acquiring an additional 26,383 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.
About Tenet Healthcare
(
Get Free Report)
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.
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