Key Points
- Director Richard Mark sold 10,000 Tenet Healthcare shares at an average price of $263.42, generating $2.63 million and reducing his direct stake by 28.47% to 25,121 shares.
- Tenet reported quarterly EPS of $6.12, beating estimates by $1.86, while revenue rose 6.8% year over year to $6.04 billion. The stock was trading near $264.85, with a 52-week range of $157.58 to $283.05.
- Analyst sentiment remains positive, with an average “Buy” rating and a $275.53 price target; several firms recently raised their targets. Institutional investors own approximately 95.44% of the company.
Tenet Healthcare Corporation (NYSE:THC - Get Free Report) Director Richard Mark sold 10,000 shares of the firm's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $263.42, for a total value of $2,634,200.00. Following the completion of the sale, the director directly owned 25,121 shares in the company, valued at approximately $6,617,373.82. This represents a 28.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Tenet Healthcare Price Performance
Tenet Healthcare stock opened at $264.85 on Tuesday. The stock has a fifty day moving average of $246.18 and a 200-day moving average of $212.44. The stock has a market capitalization of $21.33 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 1.01 and a beta of 1.23. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41. Tenet Healthcare Corporation has a 52 week low of $157.58 and a 52 week high of $283.05.
Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results 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. The firm had revenue of $6.04 billion for the quarter, compared to analysts' expectations of $5.43 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.02 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. On average, sell-side analysts expect that Tenet Healthcare Corporation will post 21.04 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Tenet Healthcare
Institutional investors have recently made changes to their positions in the stock. Talon Private Wealth LLC raised its position in shares of Tenet Healthcare by 35.4% during the second quarter. Talon Private Wealth LLC now owns 23,097 shares of the company's stock worth $4,321,000 after acquiring an additional 6,044 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Tenet Healthcare by 54.5% in the second quarter. Sequoia Financial Advisors LLC now owns 2,312 shares of the company's stock valued at $433,000 after acquiring an additional 816 shares during the last quarter. Tidal Investments LLC increased its position in Tenet Healthcare by 0.6% during the 2nd quarter. Tidal Investments LLC now owns 13,296 shares of the company's stock valued at $2,487,000 after purchasing an additional 79 shares during the period. WINTON GROUP Ltd raised its holdings in Tenet Healthcare by 129.4% during the 2nd quarter. WINTON GROUP Ltd now owns 3,900 shares of the company's stock worth $730,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its position in shares of Tenet Healthcare by 49.4% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock worth $1,174,000 after purchasing an additional 2,074 shares during the period. Institutional investors own 95.44% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently commented on THC. Wells Fargo & Company increased their price objective on shares of Tenet Healthcare from $231.00 to $281.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Zacks Research upgraded shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. UBS Group increased their price target on Tenet Healthcare from $288.00 to $308.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Guggenheim boosted their price objective on Tenet Healthcare from $242.00 to $283.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Finally, Barclays upped their target price on Tenet Healthcare from $240.00 to $271.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $275.53.
Get Our Latest Research Report on Tenet Healthcare
Tenet Healthcare Company Profile
(
Get Free Report)
Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company that owns and operates acute care hospitals and other healthcare facilities in the United States. Its hospitals provide services including emergency care, surgery, cardiovascular care, orthopedics, oncology, women's health and other inpatient and outpatient treatments.
Through its ambulatory business, United Surgical Partners International, Tenet operates and manages ambulatory surgery centers and other outpatient facilities.
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