Tenet Healthcare Corporation’s shares reached an all-time high of $270.79 on Thursday, extending a 54.4% gain over the past 12 months.
The company’s adjusted earnings for the second quarter of 2026 totaled $6.12 per share, exceeding analyst expectations of $4.23 per share. Revenue came in at $5.63 billion, above the $5.43 billion forecast. The company’s price-to-earnings ratio stands at 10.46, with a PEG ratio of 0.15.
Guggenheim raised its price target to $283 and maintained a Buy rating, citing Tenet’s strategic focus on high-acuity, non-elective services. Raymond James increased its target to $275, emphasizing Tenet’s relative performance among hospital operators. UBS lifted its target to $308 and adjusted its earnings estimates for 2026 and 2027, attributing the revision to expected supplemental payments and operational improvements. Cantor Fitzgerald raised its target to $270, noting the company’s consistent ability to exceed expectations and revise guidance upward.
The stock’s record intraday high follows a period of sustained outperformance, with shares trading near their peak valuation metrics amid strong operational execution and favorable market conditions in the healthcare services sector.
