Insider Selling: Tenet Healthcare (NYSE:THC) Director Sells $2,634,200.00 in Stock

Tenet Healthcare Corporation (NYSE:THC) Director Richard Mark sold 10,000 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the transaction, the director owned 25,121 shares of the company’s stock, valued at approximately $6,617,373.82. The trade was a 28.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Tenet Healthcare Stock Up 0.4%

THC stock traded up $1.16 during midday trading on Monday, reaching $264.85. 618,667 shares of the company were exchanged, compared to its average volume of 712,145. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 1.01 and a beta of 1.23. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41. Tenet Healthcare Corporation has a 1-year low of $157.58 and a 1-year high of $283.05. The stock’s 50-day simple moving average is $246.18 and its 200 day simple moving average is $212.44.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The firm had revenue of $6.04 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the firm posted $4.02 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. On average, equities analysts forecast that Tenet Healthcare Corporation will post 21.04 earnings per share for the current year.

Institutional Investors Weigh In On Tenet Healthcare

Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in Tenet Healthcare by 18,362.2% during the 2nd quarter. California State Teachers Retirement System now owns 18,885,726 shares of the company’s stock worth $3,533,142,000 after buying an additional 18,783,432 shares in the last quarter. Boston Partners raised its holdings in Tenet Healthcare by 15.7% during the 4th quarter. Boston Partners now owns 3,642,136 shares of the company’s stock worth $723,804,000 after buying an additional 494,581 shares during the period. Norges Bank acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $248,494,000. Allianz Asset Management GmbH grew its stake in shares of Tenet Healthcare by 78.1% during the 4th quarter. Allianz Asset Management GmbH now owns 868,134 shares of the company’s stock worth $172,516,000 after acquiring an additional 380,632 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of Tenet Healthcare in the 2nd quarter valued at about $168,761,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on THC. TD Cowen lifted their price target on Tenet Healthcare from $233.00 to $263.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Zacks Research raised shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. UBS Group increased their target price on Tenet Healthcare from $288.00 to $308.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Guggenheim upped their target price on Tenet Healthcare from $242.00 to $283.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $275.53.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company that owns and operates acute care hospitals and other healthcare facilities in the United States. Its hospitals provide services including emergency care, surgery, cardiovascular care, orthopedics, oncology, women’s health and other inpatient and outpatient treatments.

Through its ambulatory business, United Surgical Partners International, Tenet operates and manages ambulatory surgery centers and other outpatient facilities.