Retirement Systems of Alabama Sells 6,704 Shares of Tenet Healthcare Corporation $THC

Retirement Systems of Alabama trimmed its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 3.9% during the third quarter, Holdings Channel.com reports. The fund owned 167,178 shares of the company’s stock after selling 6,704 shares during the quarter. Retirement Systems of Alabama’s holdings in Tenet Healthcare were worth $33,944,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in THC. William B. Walkup & Associates Inc. acquired a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $32,000. Chung Wu Investment Group LLC acquired a new position in Tenet Healthcare in the 2nd quarter valued at $35,000. Canada Pension Plan Investment Board acquired a new stake in shares of Tenet Healthcare during the 2nd quarter worth $35,000. Trust Co. of Vermont bought a new position in shares of Tenet Healthcare in the third quarter worth $41,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Tenet Healthcare by 2,227.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 256 shares of the company’s stock worth $45,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Nadja West sold 2,178 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the completion of the sale, the director directly owned 28,480 shares of the company’s stock, valued at approximately $5,623,945.60. The trade was a 7.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $208.43, for a total transaction of $521,075.00. Following the completion of the sale, the director owned 8,792 shares of the company’s stock, valued at approximately $1,832,516.56. The trade was a 22.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 45,500 shares of company stock worth $9,247,071 over the last quarter. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE THC opened at $188.70 on Monday. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $222.82. The stock has a fifty day simple moving average of $201.09 and a 200 day simple moving average of $191.63. The company has a market capitalization of $16.58 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.80 and a beta of 1.41.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the firm posted $2.93 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Sell-side analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on THC shares. Mizuho boosted their target price on shares of Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. TD Cowen restated a “buy” rating on shares of Tenet Healthcare in a research report on Wednesday, January 7th. Raymond James Financial set a $245.00 price target on Tenet Healthcare in a research note on Wednesday, October 29th. KeyCorp upped their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their target price on Tenet Healthcare from $230.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $233.81.

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.