Gabelli Funds LLC Trims Stock Holdings in Tenet Healthcare Corporation $THC

Gabelli Funds LLC lowered its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 30.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 95,435 shares of the company’s stock after selling 42,000 shares during the period. Gabelli Funds LLC’s holdings in Tenet Healthcare were worth $19,377,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. NewEdge Advisors LLC boosted its stake in Tenet Healthcare by 6.1% during the first quarter. NewEdge Advisors LLC now owns 2,890 shares of the company’s stock worth $389,000 after acquiring an additional 166 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Tenet Healthcare by 299.1% during the first quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company’s stock valued at $229,000 after purchasing an additional 1,274 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Tenet Healthcare in the 2nd quarter worth approximately $290,000. Bank of Montreal Can increased its position in Tenet Healthcare by 19.1% during the 2nd quarter. Bank of Montreal Can now owns 31,944 shares of the company’s stock valued at $5,622,000 after buying an additional 5,128 shares in the last quarter. Finally, Savant Capital LLC raised its stake in Tenet Healthcare by 8.8% during the second quarter. Savant Capital LLC now owns 13,247 shares of the company’s stock valued at $2,331,000 after buying an additional 1,066 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tenet Healthcare news, insider R. Scott Ramsey sold 8,017 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $232.70, for a total transaction of $1,865,555.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas W. Arnst sold 24,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $234.04, for a total value of $5,616,960.00. Following the completion of the transaction, the executive vice president owned 8,012 shares in the company, valued at approximately $1,875,128.48. This trade represents a 74.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 34,195 shares of company stock valued at $7,912,606. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Price Performance

THC opened at $236.67 on Friday. The company’s 50-day simple moving average is $210.13 and its two-hundred day simple moving average is $202.29. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.68 and a current ratio of 1.76. The stock has a market capitalization of $20.58 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.17 and a beta of 1.39. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $247.21.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $4.70 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.62. Tenet Healthcare had a net margin of 6.60% and a return on equity of 26.33%. The firm had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same period in the previous year, the business posted $3.44 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 16.190-18.470 EPS. As a group, analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on THC shares. TD Cowen reissued a “buy” rating on shares of Tenet Healthcare in a research note on Thursday, February 12th. Guggenheim upped their price target on shares of Tenet Healthcare from $257.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Jefferies Financial Group raised their price objective on shares of Tenet Healthcare from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Leerink Partners upped their target price on shares of Tenet Healthcare from $255.00 to $264.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Barclays increased their price target on shares of Tenet Healthcare from $240.00 to $257.00 and gave the company an “overweight” rating in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $247.67.

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.