TD Waterhouse Canada Inc. lowered its position in Tenet Healthcare Corporation (NYSE:THC – Free Report) by 14.9% in the third quarter, HoldingsChannel reports. The firm owned 17,335 shares of the company’s stock after selling 3,044 shares during the period. TD Waterhouse Canada Inc.’s holdings in Tenet Healthcare were worth $4,411,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new position in Tenet Healthcare in the 2nd quarter valued at about $168,761,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Tenet Healthcare by 57.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company’s stock valued at $126,757,000 after buying an additional 244,901 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Tenet Healthcare during the 2nd quarter worth approximately $106,342,000. Empowered Funds LLC increased its holdings in shares of Tenet Healthcare by 22.1% during the 1st quarter. Empowered Funds LLC now owns 284,753 shares of the company’s stock worth $53,736,000 after buying an additional 51,549 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Tenet Healthcare by 3,478.7% during the 4th quarter. Hsbc Holdings PLC now owns 266,400 shares of the company’s stock valued at $53,269,000 after buying an additional 258,956 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on THC shares. Zacks Research lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Weiss Ratings upgraded Tenet Healthcare from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Guggenheim upped their price target on Tenet Healthcare from $283.00 to $307.00 and gave the company a “buy” rating in a research note on Friday. Truist Financial increased their price target on Tenet Healthcare from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Morgan Stanley increased their price target on Tenet Healthcare from $254.00 to $274.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $278.45.
Read Our Latest Stock Report on Tenet Healthcare
Insider Transactions at Tenet Healthcare
In related news, Director Richard J. Mark sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the completion of the transaction, the director directly owned 25,121 shares in the company, valued at $6,617,373.82. This trade represents a 28.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa Y. Foo sold 24,000 shares of Tenet Healthcare stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $266.32, for a total value of $6,391,680.00. Following the completion of the transaction, the executive vice president directly owned 8,053 shares of the company’s stock, valued at approximately $2,144,674.96. This represents a 74.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 131,199 shares of company stock worth $35,065,587. 0.97% of the stock is owned by corporate insiders.
Tenet Healthcare Stock Down 0.3%
Tenet Healthcare stock opened at $266.58 on Tuesday. Tenet Healthcare Corporation has a fifty-two week low of $157.58 and a fifty-two week high of $283.05. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41. The firm has a 50 day moving average price of $264.48 and a 200 day moving average price of $219.84. The company has a market capitalization of $21.46 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.02 and a beta of 1.20.
Tenet Healthcare (NYSE:THC – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.26 by $1.86. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%. The company had revenue of $6.04 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the firm earned $4.02 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Research analysts expect that Tenet Healthcare Corporation will post 21.04 earnings per share for the current year.
Tenet Healthcare Company Profile
Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.
Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.
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