Public Employees Retirement Association of Colorado lifted its stake in shares of Tenet Healthcare Corporation (NYSE:THC – Free Report) by 957.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,913 shares of the company’s stock after buying an additional 87,750 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Tenet Healthcare were worth $19,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of THC. Norges Bank purchased a new position in shares of Tenet Healthcare during the fourth quarter valued at about $248,494,000. Eminence Capital LP purchased a new stake in Tenet Healthcare in the third quarter worth about $225,263,000. Boston Partners grew its holdings in 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 purchasing an additional 880,413 shares during the period. AQR Capital Management LLC grew its holdings in Tenet Healthcare by 62.3% in the third quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company’s stock worth $380,989,000 after purchasing an additional 720,160 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Tenet Healthcare by 375.7% in the second 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 period. Hedge funds and other institutional investors own 95.44% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on THC. KeyCorp cut their price objective on shares of Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Weiss Ratings cut shares of Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Leerink Partners upped their price objective on shares of Tenet Healthcare from $255.00 to $264.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Guggenheim cut their price objective on shares of Tenet Healthcare from $283.00 to $252.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Morgan Stanley set a $254.00 price target on shares of Tenet Healthcare in a report on Friday, May 1st. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.16.
Insider Buying and Selling
In related news, Director J Robert Kerrey sold 5,638 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $174.52, for a total transaction of $983,943.76. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nadja West sold 3,000 shares of the 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 transaction, the director owned 24,805 shares in the company, valued at approximately $4,399,166.75. This trade represents a 10.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is owned by corporate insiders.
Tenet Healthcare Trading Up 2.5%
NYSE:THC opened at $179.08 on Tuesday. The company’s 50 day moving average price is $183.76 and its 200-day moving average price is $199.56. Tenet Healthcare Corporation has a 52 week low of $146.60 and a 52 week high of $247.21. The company has a quick ratio of 1.30, a current ratio of 1.36 and a debt-to-equity ratio of 1.96. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.44 and a beta of 1.28.
Tenet Healthcare (NYSE:THC – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.61. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the company posted $4.36 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, equities research analysts forecast that Tenet Healthcare Corporation will post 17.61 earnings per share 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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