Royal Bank of Canada Reduces Stake in Tenet Healthcare Corporation $THC

Royal Bank of Canada lessened its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 15.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,685 shares of the company’s stock after selling 10,695 shares during the quarter. Royal Bank of Canada’s holdings in Tenet Healthcare were worth $10,886,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of THC. Triumph Capital Management purchased a new position in Tenet Healthcare during the third quarter valued at approximately $25,000. Activest Wealth Management bought a new position in Tenet Healthcare in the 4th quarter valued at $26,000. Elyxium Wealth LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth $29,000. Canada Pension Plan Investment Board purchased a new position in Tenet Healthcare during the second quarter worth about $35,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Tenet Healthcare by 146.2% during the fourth quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock worth $38,000 after purchasing an additional 114 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on THC. Royal Bank Of Canada raised their price target on Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. KeyCorp reduced their price target on shares of Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. UBS Group upped their price objective on shares of Tenet Healthcare from $288.00 to $308.00 and gave the company a “buy” rating in a research note on Monday, July 27th. TD Cowen raised their price objective on Tenet Healthcare from $233.00 to $263.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Truist Financial increased their target price on Tenet Healthcare from $270.00 to $290.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $271.00.

Insider Buying and Selling

In other Tenet Healthcare news, Director Nadja West sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total value of $532,050.00. Following the sale, the director owned 24,805 shares in the company, valued at approximately $4,399,166.75. This represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa Y. Foo sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $258.03, for a total value of $2,580,300.00. Following the transaction, the executive vice president owned 32,053 shares of the company’s stock, valued at $8,270,635.59. The trade was a 23.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,953 shares of company stock worth $7,841,125 over the last quarter. Company insiders own 0.97% of the company’s stock.

Tenet Healthcare Trading Up 2.4%

NYSE:THC opened at $262.75 on Friday. The company has a 50-day moving average price of $200.19 and a 200-day moving average price of $201.39. The stock has a market cap of $21.16 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 1.00 and a beta of 1.23. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00. Tenet Healthcare Corporation has a 12 month low of $157.58 and a 12 month high of $265.32.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.26 by $1.86. The company had revenue of $6.04 billion during the quarter, compared to the consensus estimate of $5.43 billion. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. Tenet Healthcare’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.02 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Equities analysts predict that Tenet Healthcare Corporation will post 21.09 EPS 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.