Tenet Healthcare (NYSE:THC) Director Sells $983,943.76 in Stock

by · The Cerbat Gem

Tenet Healthcare Corporation (NYSE:THC – Get Free Report) Director J Robert Kerrey sold 5,638 shares of Tenet Healthcare stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $174.52, for a total value of $983,943.76. Following the sale, the director directly owned 16,804 shares of the company’s stock, valued at $2,932,634.08. This trade represents a 25.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Tenet Healthcare Stock Performance

NYSE:THC traded up $1.63 during trading hours on Friday, reaching $174.83. The company had a trading volume of 1,420,925 shares, compared to its average volume of 1,469,041. Tenet Healthcare Corporation has a 1-year low of $146.60 and a 1-year high of $247.21. The firm has a market cap of $15.06 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 1.14 and a beta of 1.30. The business’s 50 day moving average price is $189.94 and its 200-day moving average price is $201.87. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.36 and a quick ratio of 1.30.

Tenet Healthcare (NYSE:THC – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.61. Tenet Healthcare had a return on equity of 25.55% and a net margin of 7.94%.The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the company posted $4.36 earnings per share. Tenet Healthcare’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. Research analysts forecast that Tenet Healthcare Corporation will post 17.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Mizuho boosted their price target on Tenet Healthcare from $235.00 to $265.00 and gave the company an “outperform” rating in a report on Thursday, March 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tenet Healthcare in a research note on Wednesday, March 4th. Barclays reduced their target price on Tenet Healthcare from $257.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. TD Cowen reaffirmed a “buy” rating on shares of Tenet Healthcare in a research note on Thursday, February 12th. Finally, Leerink Partners upped their target price on Tenet Healthcare from $255.00 to $264.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Nineteen equities research 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 a consensus target price of $244.16.

Read Our Latest Analysis on THC

Institutional Trading of Tenet Healthcare

Several large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Tenet Healthcare by 1.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,490,350 shares of the company’s stock worth $1,488,484,000 after purchasing an additional 119,809 shares in the last quarter. Boston Partners increased its position in shares of Tenet Healthcare by 15.7% during the fourth quarter. Boston Partners now owns 3,642,136 shares of the company’s stock worth $723,804,000 after purchasing an additional 494,581 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Tenet Healthcare by 20.3% during the fourth quarter. AQR Capital Management LLC now owns 2,256,539 shares of the company’s stock worth $448,419,000 after purchasing an additional 380,116 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Tenet Healthcare by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock worth $373,020,000 after purchasing an additional 157,109 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth approximately $248,494,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

About Tenet Healthcare

(Get Free Report)

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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