Vestcor Inc reduced its stake in Tenet Healthcare Corporation (NYSE:THC – Free Report) by 28.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,996 shares of the company’s stock after selling 3,990 shares during the period. Vestcor Inc’s holdings in Tenet Healthcare were worth $1,986,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in THC. NewEdge Advisors LLC increased its stake in shares of Tenet Healthcare by 6.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,890 shares of the company’s stock worth $389,000 after purchasing an additional 166 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Tenet Healthcare by 299.1% during the first quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company’s stock valued at $229,000 after purchasing an additional 1,274 shares during the period. Sivia Capital Partners LLC purchased a new stake in Tenet Healthcare in the second quarter worth $290,000. Quantbot Technologies LP bought a new stake in shares of Tenet Healthcare in the second quarter valued at $65,000. Finally, Amundi grew its stake in shares of Tenet Healthcare by 4,207.8% during the 2nd quarter. Amundi now owns 27,010 shares of the company’s stock worth $4,652,000 after acquiring an additional 26,383 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.
Insider Activity at Tenet Healthcare
In other news, EVP Paola M. Arbour sold 6,500 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $238.43, for a total transaction of $1,549,795.00. Following the transaction, the executive vice president directly owned 29,291 shares in the company, valued at approximately $6,983,853.13. This represents a 18.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Robert Kerrey sold 5,638 shares of the business’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 sale, the director owned 16,804 shares of the company’s stock, valued at $2,932,634.08. The trade was a 25.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,138 shares of company stock valued at $3,065,789 over the last 90 days. 0.97% of the stock is owned by insiders.
Analysts Set New Price Targets
Get Our Latest Stock Report on THC
Tenet Healthcare Stock Up 0.1%
THC stock opened at $162.20 on Monday. The company’s 50 day moving average is $186.17 and its 200 day moving average is $200.80. The stock has a market cap of $13.97 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28. The company has a current ratio of 1.36, a quick ratio of 1.30 and a debt-to-equity ratio of 1.96. Tenet Healthcare Corporation has a 1-year low of $146.60 and a 1-year high of $247.21.
Tenet Healthcare (NYSE:THC – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.61. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. Sell-side analysts predict that Tenet Healthcare Corporation will post 17.61 EPS for the current fiscal year.
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.
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