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THC

Tenet HealthcareA
NYSE / Health Care Equipment & Services
Last Price
Quote time unavailable
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Current thesis
Q2 adjusted EBITDA reached $1.304 billion, hospital adjusted EBITDA margin improved to 18.0% from 15.6%, and management raised full-year EBITDA and free-cash-flow outlooks. Continued execution could justify upside [#SEC-8K-2026-07-23].
Posture
Constructive
Lead driver
Value
What changed
Next scheduled catalyst: earnings 2026-10-29 · BMO.
What can break
First-half adjusted free cash flow fell year over year despite stronger operating cash flow, making conversion against the raised outlook a key test [#SEC-8K-2026-07-23].
Momentum
81
Value
70
Sentiment
47
Setup hits (3d)
0 · Net Neutral
AI TargetsBase $265.00 · Bull $295.00 · Bear $225.00Analysis 2026-10-10; returns require an exact persisted reference.
Earnings
2026-10-29 · BMO
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-10-23 • Vendor: Data Vendor v1
Scores
As of 2026-10-23 • Model: HYBRID_IC_RP
AI Memo
As of 2026-10-10 • Model: RankAlpha Sentiment Codex
Investment thesis
As of 2026-10-23

Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-10-23. Definitions

Supporting evidence
What
Grade A · Constructive
Confidence Medium · Net Neutral
Target $286.48
Why
Momentum81 · Δ7d -3.2
Value70 · Δ7d +0.2
Sentiment47 · Δ7d +0.6
So what
Strength-led posture (Net Neutral). Favor watchlist adds and disciplined entries.

Confirming evidence

  • • Next scheduled catalyst: earnings 2026-10-29 · BMO.
  • • Value remains the lead driver in the composite, 7D delta +0.2.

Contradictions & invalidation

  • • First-half adjusted free cash flow fell year over year despite stronger operating cash flow, making conversion against the raised outlook a key test [#SEC-8K-2026-07-23].
  • • Lower exchange admissions could continue to pressure payer mix and hospital margins [#SEC-8K-2026-07-23].
  • • Unfavorable payer mix and weaker first-half adjusted free cash flow complicate the raised-outlook thesis.

Catalyst clock

2026-10-29 · BMO

October 29 third-quarter results and outlook test

Lead driver: Value · See fundamentals
Momentum
81
8% active weight
Current posture
7d trendImproving
Δ7d
-3.2
Δ21d
+2.7
Value
70
47% active weight
Current posture
7d trendFlat
Δ7d
+0.2
Δ21d
-0.3
Sentiment
47
45% active weight
Current posture
7d trendSoftening
Δ7d
+0.6
Δ21d
-12.6
Why this grade

Composite grade A. Momentum 81.1 / Value 70.1 / Sentiment 46.9

Scenario snapshot

Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-10-10. Scenario method

B+
Bull case
30%
Probability
Target price
$295.00
Analysis reference price unavailable
Analysis 2026-10-10 · RankAlpha Sentiment Codex
Most likely
B
Base case
45%
Probability
Target price
$265.00
Analysis reference price unavailable
Analysis 2026-10-10 · RankAlpha Sentiment Codex
B-
Bear case
25%
Probability
Target price
$225.00
Analysis reference price unavailable
Analysis 2026-10-10 · RankAlpha Sentiment Codex
Fundamentals (TTM)
As of 2026-10-23
Market Cap
$21.62B
Beta
1.45
Shares Out
80.52M
P/E (TTM)
14.2
P/S (TTM)
0.87
P/FCF (TTM)
12.11
Rev YoY
+6.8%
EPS YoY
+213.5%
Gross Margin
+16.5%
Op Margin
+16.5%
Net Debt
$11.55B
Current Ratio
1.41
As of 2026-10-23 • Updated nightlySource: Internal modelMethods & Data