Engineers Gate Manager LP Sells 29,504 Shares of Tenet Healthcare Corporation $THC

Engineers Gate Manager LP cut its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 23.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,826 shares of the company’s stock after selling 29,504 shares during the period. Engineers Gate Manager LP owned approximately 0.11% of Tenet Healthcare worth $18,844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in Tenet Healthcare in the 4th quarter worth about $248,494,000. Eminence Capital LP bought a new stake in Tenet Healthcare in the 3rd quarter worth about $225,263,000. Boston Partners grew its position in Tenet Healthcare by 38.8% in the 3rd 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 in the last quarter. AQR Capital Management LLC grew its position in Tenet Healthcare by 62.3% in the 3rd 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 in the last quarter. Finally, Alliancebernstein L.P. grew its position in Tenet Healthcare by 375.7% in the 2nd 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 in the last quarter. 95.44% of the stock is owned by institutional investors.

Insider Activity at Tenet Healthcare

In related news, Director J Robert Kerrey sold 5,638 shares of the firm’s stock in a transaction that occurred 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 directly owned 16,804 shares of the company’s stock, valued at approximately $2,932,634.08. This trade represents a 25.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nadja West sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 24,805 shares of the company’s stock, valued at approximately $4,399,166.75. This trade represents a 10.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.97% of the stock is currently owned by company insiders.

Tenet Healthcare Stock Down 2.7%

THC opened at $178.63 on Thursday. The company has a 50 day moving average of $183.44 and a 200 day moving average of $199.04. The company has a market cap of $15.39 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. Tenet Healthcare Corporation has a 12 month low of $146.60 and a 12 month high of $247.21. 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) last released its quarterly earnings data on Thursday, April 30th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.21 by $0.61. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.39 billion. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. Tenet Healthcare’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, sell-side analysts expect that Tenet Healthcare Corporation will post 17.61 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on THC. 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 research report on Friday, February 20th. Mizuho upped their price objective on shares of Tenet Healthcare from $235.00 to $265.00 and gave the stock an “outperform” rating in a research report on Thursday, March 12th. KeyCorp reduced their target price on shares of Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Morgan Stanley set a $254.00 target price on shares of Tenet Healthcare in a research report on Friday, May 1st. Finally, Barclays reduced their target price on shares of Tenet Healthcare from $257.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.16.

About Tenet Healthcare

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.