Tenet Healthcare (THC)
Health Care · Health Care Facilities · NYSE
Tenet Healthcare is a leading diversified healthcare services provider focused on high-quality inpatient hospital care and a rapidly expanding network of ambulatory surgery centers.
What Tenet Healthcare does
Tenet Healthcare is a diversified healthcare services company that operates acute care hospitals, specialty hospitals, and outpatient centers. Through its USPI segment, the company manages a large portfolio of ambulatory surgery centers and surgical hospitals. It also provides comprehensive healthcare services, including diagnostic imaging and other outpatient procedures, to patients across the United States.
Themes: hospital systems, ambulatory surgery centers / outpatient care, healthcare services
Fundamentals
- Price$260.57 as of 2026-10-08 close
- Market cap$21.0B as of 2026-07-24 (share count; price 2026-10-08)
- 1-year return+30.0% 2025-10-08 close $200.48 → 2026-10-08 close $260.57
- P/E10.05 as of 2026-10-08
- Net margin+11.1% FY2025, SEC XBRL
- ROE+39.3% FY2025, SEC XBRL
- Debt / equity2.84 as of 2026-09-02
- Revenue growth (YoY)+7.4% as of 2026-09-02
- Revenue CAGR (3y)+3.6% SEC XBRL
- Beta0.80 as of 2026-09-02
- Last reported earnings2026-07-23 SEC EDGAR Form 8-K (Item 2.02)
How THC compares in its sector
- price-to-earnings ratiobottom 10% 185 covered Health Care peers, as of 2026-10-08
- net profit margintop 25% 430 covered Health Care peers, as of 2026-09-02
- operating margintop 25% 417 covered Health Care peers, as of 2026-09-02
- return on equitytop 10% 510 covered Health Care peers, as of 2026-09-02
- 3-year revenue CAGRmiddle range 402 covered Health Care peers
- free cash flow (absolute dollars, latest fiscal year)top 10% 494 covered Health Care peers, as of FY2025
Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Top 10 scores & list membership
THC is not currently in any published Top 10 list. Its scores are below.
Top 10 score
58.3 #292 of 1,379 scored · #37 of 151 in Health Care
Profitability 78th (return on equity 39.3%, operating margin 16.5%) and trend 71st (trading above its 200-day average); weakest is financial health (33rd, debt to equity 2.8, free cash flow margin 11.9%).
Scores as of 8 Oct 2026. Each bar is a percentile: how this company ranked against every company the score ranked, 0–100. A list is a published formula and its output, not a recommendation. Method version 4.
How Tenet Healthcare looks technically
Tenet Healthcare (THC) is trading 21.4% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed above its 200-day average about 41 trading days ago — a "golden cross", a bullish long-term signal. There is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 14, below the 25 that marks a real trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 52, neither overbought (above 70) nor oversold (below 30). It made a new 20-day low about 11 trading days ago. Day-to-day price swings are unusually narrow versus its own recent history — a "Bollinger squeeze" (in the tightest 1% of the past ~6 months), which often precedes a bigger move.
Trend
8
| Distance from the 200-day | it is trading 21.4% above its 200-day average, the long-term trend line — a longer-term uptrend | +21.4% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $262.56 | $262.56 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $214.57 | $214.57 |
| Swing structure | each recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes next | lower highs and lower lows |
| Last swing turn | its last significant turn was a swing high 10 calendar days ago — the swings before that are what the structure reading is measured on | 10 sessions |
| Wave structure | its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in leg 3 of five; the labelling fails if price closes above 265.64. It is one of several labellings that fit, and it describes the swings already printed, not what comes next. The same swings also read as a three-part correction in leg C. | possible downward five-wave sequence, in wave 3 (one of several readings) |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 41 trading days ago — a "golden cross", a bullish long-term signal | 41 sessions |
| Trend strength (14-day ADX) | there is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 14, below the 25 that marks a real trend) | 14.0 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 52, neither overbought (above 70) nor oversold (below 30) | 52.1 |
|---|---|---|
| Position in its 14-day range | it is trading in the upper half of its 14-day range ($248.86 to $265.64) — its "stochastic" reading is 70 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 69.8 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in negative territory (momentum leaning bearish) | 38 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $283.05 | $283.05 |
|---|---|---|
| From the 52-week high | it is 7.9% below its 52-week high (its highest price of the past year) | -7.9% |
| Above the 52-week low | it is 65.4% above its 52-week low (its lowest price of the past year) | +65.4% |
| Below the 52-week high | it is 7.9% below its highest point of the past year | 7.9% |
| Since a 20-day breakout | it made a new 20-day low about 11 trading days ago | 11 sessions |
| Since a 55-day breakout | it made a new 55-day high about 34 trading days ago | 34 sessions |
| All-time high | its highest closing price on record is $283.05 (set on 2026-08-24) | $283.05 |
| Given back of the 52-week move | over the past year its closes ranged ($161.37 to $280.77), and it has given back roughly a quarter of its rise from last year’s low — 17% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $203.16 to $206.98. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 16.9% |
| From the all-time high | it is 7.9% below its all-time high | -7.9% |
| Nearest price level | it is trading 1.4% below a resistance level at $264.16 — a price it turned at twice since 2026-07-28, most recently on 2026-09-28. Since 2024-10-08 it has 15 such levels below the current price and 1 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +1.4% |
| All-time low | its lowest closing price on record is $3.12 (set on 2009-02-23) | $3.12 |
| Above the all-time low | it is 8251.6% above its all-time low | +8,252% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are unusually narrow versus its own recent history — a "Bollinger squeeze" (in the tightest 1% of the past ~6 months), which often precedes a bigger move | 0th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $7.32 between its high and its low — about 2.8% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $7.32 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $252.15 and $266.80 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $252.15 – $259.47 – $266.80 |
| Typical daily range (% of price) | its price moves about 2.8% in a typical session — calmer than most companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 2.8% |
| Stretch from the 200-day average | it is trading 6.3 daily ranges above its 200-day average price (21.4% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 6.3 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.58× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
3
| Since a doji | 3 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 3 sessions ago |
|---|---|---|
| Since a bullish engulfing | 9 sessions ago it opened below the previous session's close and finished above that session's open — a "bullish engulfing" pair, where one up day more than undid the down day before it | 9 sessions ago |
| Since a bearish engulfing | 2 sessions ago it opened above the previous session's close and finished below that session's open — a "bearish engulfing" pair, where one down day more than undid the up day before it | 2 sessions ago |
Price gaps
2
| Gap at the open | it opened on 2026-10-08 1.0% below the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | -1.0% |
|---|---|---|
| Open gap | it gapped 19.8% above the previous close 52 sessions ago and has not traded back through the level it left behind at 199.02 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | +19.8% |
Price streaks
1
| Closing streak | it has closed higher 2 sessions in a row, a +0.81% move over the run — an unbroken run of up days, which describes what has already happened and says nothing about the next session | 2 sessions up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 0.5 percentage points (the stock gained 0.6% while the market gained 1.0%) | -0.5% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 22.5 percentage points (the stock gained 26.3% while the market gained 3.8%) | +22.5% |
| vs market, 6 months | over the past 6 months this stock beat the market by 19.5 percentage points (the stock gained 36.9% while the market gained 17.5%) | +19.5% |
| vs market, 12 months | over the past 12 months this stock beat the market by 15.0 percentage points (the stock gained 30.0% while the market gained 15.0%) | +15.0% |
Signal agreement
2
| Bullish technical signals | 3 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, trading above its 200-day average, outperforming the market over 6 months — these describe past price behaviour, not a forecast | 3 of 9 |
|---|---|---|
| Bearish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bearish state: MACD momentum is negative — these describe past price behaviour, not a forecast | 1 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading inside the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-01 and projected forward over today's price, the zone traders read as unresolved — neither side has established a trend, and the band is where that gets settled. The band itself is thick, spanning 15.7% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | 0.0% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 25% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $208.48 — a volume-weighted average of daily closes over 192 sessions, not a true tick-by-tick VWAP. | +25.0% |
|---|---|---|
| Vs the average paid since it last reported | the price is 1% above the average price paid since it last reported on 2026-07-23 (its 8-K), so the typical buyer over that stretch is showing a gain. That average is $258.83 — a volume-weighted average of daily closes over 54 sessions, not a true tick-by-tick VWAP. | +0.7% |
Price levels it has turned at before
THC last closed at $260.57 on 2026-10-08. Since 2024-10-08 it has turned at 15 prices below its last close and 1 above; the 3 nearest below and the nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $264.16 | Resistance | 1.4% above the last close | turned there twice · 2026-07-28 to 2026-09-28 |
| $246.84 | Support | 5.3% below the last close | turned there three times · 2026-03-05 to 2026-09-25 |
| $210.71 | Support | 19.1% below the last close | turned there twice · 2026-01-06 to 2026-07-07 |
| $206.81 | Support | 20.6% below the last close | turned there twice · 2025-10-07 to 2026-04-08 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in leg 3 of five.
This labelling fails — stops being a possible reading at all — if it closes above $265.64.
This is one of several labellings that fit the same swings, so treat it as a reading rather than the reading. It was chosen from 2 labellings that survived the rules, counting shorter readings of the same bars.
On past moves of this shape the leg has usually ended somewhere between $230.45 and $243.89 — that is where it has tended to end if the count holds, not a forecast of where the price goes.
Alternate reading: The same swings also read as a three-part correction in leg C, which fails on a close above $265.64.
This reading has stood for 3 trading days, since 2026-10-06.
Read from daily closes as of 2026-10-08.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading above the 200-day moving average · in a Bollinger Band volatility squeeze · trendless / choppy (low ADX) · beating the market · Stretched far above its 200-day average (6+ daily ranges) · Trading inside the Ichimoku cloud | Learn: moving average · golden cross · adx · rsi · breakout · bollinger bands
Based on daily closing prices as of 2026-10-08. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingBuy (1.57 mean, 1=Strong Buy…5=Strong Sell) — 22 analysts
- Mean price target$284.64 range $260.00 – $315.00; median $284.00
Analyst estimates, as of 2026-10-06. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for THC
- Consensus EPS estimate$4.67 next reporting period, as of 2026-10-06
- Estimate change, 30 days+$0.00145 (+0.0%) from $4.67, on 2026-09-01, 35-day window
- Readings revised upward25% of 8 comparable readings
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Sensitivity to changes in government reimbursement rates and healthcare policy.","High levels of debt and exposure to interest rate fluctuations.","Risks associated with professional and general liability and litigation."]
What changed in the latest 10-Q
AI-assisted comparison of THC's 10-Q filed 2026-04-30 against the prior one filed 2025-10-28.
Management's Discussion & Analysis (MD&A)
- Added:
- In newer filing (2026-04-30): Reference to "Florida Coast Medical Center, the acute care hospital we opened in Florida in September 2025" as exclusion from same-hospital basis for three-month periods ended March 31, 2026 and 2025
- In newer filing (2026-04-30): Statement that Conifer Health Solutions, LLC is identified as "Conifer" in parenthetical
- In newer filing (2026-04-30): Specification that same-hospital basis includes "49 hospitals" for the three-month periods
- In newer filing (2026-04-30): Clarification that Conifer provides services "to hospitals and other healthcare facilities, health systems, physician practices, employers and other clients" (adds "and other healthcare facilities" compared to older version)
- Removed:
- In older filing (2025-10-28): Detailed enumeration of specific divested hospitals and divestitures including SC Hospitals (January 2024), OCLA CA Hospitals and Central CA Hospitals (March 2024), Westover Hills Hospital opening (July 2024), El Paso rehabilitation hospital acquisition (September 2024), and AL Hospitals divestiture (September 2024)
- In older filing (2025-10-28): Reference to "nine-month periods ended September 30, 2025 and 2024" for same-hospital basis
- In older filing (2025-10-28): Identification of Conifer as a "joint venture"
- Reworded:
- Hospital Operations outpatient facilities count: 135 (as of September 30, 2025, in older filing) changed to 132 (as of March 31, 2026, in newer filing)
- Ambulatory Care segment ASC count: 530 total with 398 consolidated (as of September 30, 2025) changed to 541 total with 407 consolidated (as of March 31, 2026)
- Same-hospital basis description simplified in newer filing to exclude only Florida Coast Medical Center and discontinued operations, versus older filing's extensive list of specific historical divestitures and acquisitions
- Conifer identification changed from "our Conifer Health Solutions, LLC joint venture" to "Conifer Health Solutions, LLC ('Conifer')" with descriptor as part of Hospital Operations segment services
- Notes:
- The newer filing appears truncated in the STRATEGIES section, cutting off mid-sentence after 'construction o', limiting full assessment of changes in that section
- Comparison reflects different reporting dates (March 31, 2026 vs. September 30, 2025) which naturally accounts for some facility count changes and period-specific exclusions
- The older filing text also appears truncated at the end of the OPERATING ENVIRONMENT AND TRENDS section
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
0 open-market purchases and 19 open-market sales by insiders in the last 90 days, of which we have read Form 4 filings through 2026-10-04. The 5 days since 2026-10-04 have not been checked yet.
- Last 30 days · read to 2026-10-040 buys · 4 sells ($6M) — 2 selling insiders
- Last 90 days · read to 2026-10-040 buys · 19 sells ($50M) — 11 selling insiders
- Last 180 days · read to 2026-10-040 buys · 25 sells ($52M) — 11 selling insiders
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-09-14. Based on Form 4 filings read through 2026-10-04; anything filed since is not yet included.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about THC's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
U.S. House trading disclosures
U.S. House members publicly disclose their own, their spouse's, and dependent children's stock transactions under the STOCK Act. We hold 7 matched disclosures for THC from U.S. House Clerk Periodic Transaction Report filings.
U.S. House trading disclosures →Institutional ownership (13F)
5 institutional 13F filers reported holding THC as of 2026-06-30 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 19,746,414
- Reported value $3,694,159,156
reported quarterly holdings change (2026-03-31 → 2026-06-30): 0 new, 4 increased, 1 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Ask about THC's institutional holders → See what each manager we track holds →
Short interest (FINRA)
THC had 2,015,270 shares of reported short interest as of the 2026-09-15 FINRA settlement date (delayed, bi-monthly; not real-time).
THC had 2.50% of its shares outstanding sold short as of the 2026-09-15 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 2.81 days to cover at the same settlement.
- Reported short interest (shares) 2,015,270
- Short interest (% of shares outstanding) 2.50%
- Prior settlement (shares) 1,887,387
- Reported change 6.78%
- Days to cover (reported) 2.81
Reported to FINRA as of the 2026-09-15 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- HCA Healthcare (HCA)
- Universal Health Services (UHS)
- Community Health Systems (CYH)
- Surgery Partners (SGRY)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does Tenet Healthcare (THC) do?
Tenet Healthcare is a diversified healthcare services company that operates acute care hospitals, specialty hospitals, and outpatient centers. Through its USPI segment, the company manages a large portfolio of ambulatory surgery centers and surgical hospitals. It also provides comprehensive healthcare services, including diagnostic imaging and other outpatient procedures, to patients across the United States.
What sector is Tenet Healthcare (THC) in?
Tenet Healthcare (THC) is classified in the Health Care sector. Its industry is Health Care Facilities. It trades on NYSE.
Who are Tenet Healthcare's (THC) competitors?
Notable peers of Tenet Healthcare (THC) include HCA Healthcare, Universal Health Services, Community Health Systems and Surgery Partners. This peer set is informational only — not financial advice.
Has there been recent U.S. House stock trading in THC?
Yes — we hold 7 matched STOCK Act disclosures for THC from U.S. House Clerk Periodic Transaction Report filings. These are legally-required disclosures (often filed 30–45 days after the trade), may belong to a U.S. House member, their spouse, or a dependent child, and are not an indicator of company performance or investment advice.
Is Tenet Healthcare (THC) overbought or oversold right now?
Tenet Healthcare (THC) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 52, in the neutral middle (as of 2026-10-08). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on THC come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest; prices are market data, as of 2026-09-02; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-08.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.