Wall Street Zen Downgrades Tenet Healthcare (NYSE:THC) to Hold

Tenet Healthcare (NYSE:THC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other research analysts also recently issued research reports about the stock. Morgan Stanley set a $254.00 price objective on shares of Tenet Healthcare in a research note on Friday, May 1st. Barclays lifted their price target on shares of Tenet Healthcare from $238.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Weiss Ratings downgraded Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Royal Bank Of Canada reduced their target price on Tenet Healthcare from $277.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Finally, Robert W. Baird cut their price objective on Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $245.37.

Tenet Healthcare Stock Down 2.2%

Shares of NYSE THC opened at $194.89 on Friday. The firm’s 50 day moving average price is $184.35 and its 200 day moving average price is $197.48. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.30 and a current ratio of 1.36. The firm has a market cap of $16.79 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 1.65 and a beta of 1.27. Tenet Healthcare has a 1 year low of $146.60 and a 1 year high of $247.21.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.61. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Tenet Healthcare had a return on equity of 25.55% and a net margin of 7.94%.The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $4.36 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, sell-side analysts anticipate that Tenet Healthcare will post 17.5 earnings per share for the current year.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,638 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total value of $983,943.76. Following the completion of the transaction, the director owned 16,804 shares in the company, valued at $2,932,634.08. This represents a 25.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nadja West sold 3,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total transaction of $532,050.00. Following the sale, the director owned 24,805 shares in the company, valued at $4,399,166.75. This represents a 10.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Tenet Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Tenet Healthcare in the fourth quarter valued at about $248,494,000. Wellington Management Group LLP boosted its stake in shares of Tenet Healthcare by 1,114.2% during the 4th quarter. Wellington Management Group LLP now owns 1,135,801 shares of the company’s stock valued at $225,706,000 after buying an additional 1,042,260 shares during the last quarter. Boston Partners increased its stake in shares of Tenet Healthcare by 38.8% in the third quarter. Boston Partners now owns 3,147,555 shares of the company’s stock worth $638,958,000 after buying an additional 880,413 shares during the last quarter. AQR Capital Management LLC boosted its stake in Tenet Healthcare by 62.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company’s stock valued at $380,989,000 after acquiring an additional 720,160 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Tenet Healthcare by 375.7% in the 2nd quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock worth $139,085,000 after purchasing an additional 624,125 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Company Profile

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.