Hsbc Holdings PLC raised its stake in Tenet Healthcare Corporation (NYSE:THC – Free Report) by 3,478.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 266,400 shares of the company’s stock after purchasing an additional 258,956 shares during the quarter. Hsbc Holdings PLC’s holdings in Tenet Healthcare were worth $53,269,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Triumph Capital Management purchased a new position in Tenet Healthcare during the 3rd quarter valued at approximately $25,000. Activest Wealth Management bought a new stake in Tenet Healthcare in the fourth quarter worth $26,000. Elyxium Wealth LLC bought a new position in Tenet Healthcare during the fourth quarter valued at $29,000. Canada Pension Plan Investment Board purchased a new position in shares of Tenet Healthcare in the 2nd quarter worth $35,000. Finally, Meeder Asset Management Inc. raised its position in shares of Tenet Healthcare by 146.2% during the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock valued at $38,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently commented on the company. KeyCorp dropped their price target on Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Wells Fargo & Company dropped their target price on Tenet Healthcare from $265.00 to $213.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Guggenheim lowered their price target on Tenet Healthcare from $283.00 to $252.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Royal Bank Of Canada reduced their target price on shares of Tenet Healthcare from $277.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Finally, Robert W. Baird cut their price target on shares of Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.32.
Insider Buying and Selling at Tenet Healthcare
In other Tenet Healthcare news, Director Nadja West sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $177.35, for a total transaction of $532,050.00. Following the completion of the sale, the director owned 24,805 shares in the company, valued at $4,399,166.75. This represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Robert Kerrey sold 5,638 shares of Tenet Healthcare stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $174.52, for a total value of $983,943.76. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.97% of the company’s stock.
Tenet Healthcare Stock Up 0.3%
Shares of THC opened at $204.28 on Monday. The firm has a market capitalization of $17.60 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.68 and a beta of 1.27. Tenet Healthcare Corporation has a 12-month low of $146.60 and a 12-month high of $247.21. The firm has a fifty day moving average price of $181.48 and a 200-day moving average price of $197.32. 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 (NYSE:THC – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.61. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.39 billion. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. Equities research analysts expect that Tenet Healthcare Corporation will post 17.61 earnings per share for the current year.
Tenet Healthcare 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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