Legacy Capital Group California Inc. Sells 8,315 Shares of Tenet Healthcare Corporation $THC

Legacy Capital Group California Inc. lessened its position in Tenet Healthcare Corporation (NYSE:THC) by 85.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,418 shares of the company’s stock after selling 8,315 shares during the period. Legacy Capital Group California Inc.’s holdings in Tenet Healthcare were worth $268,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,638 shares of Tenet Healthcare stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total transaction of $983,943.76. Following the completion of the transaction, the director owned 16,804 shares in the company, valued at approximately $2,932,634.08. The trade was a 25.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nadja West sold 3,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $177.35, for a total value of $532,050.00. Following the completion of the sale, the director directly 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 disclosure for this sale is available in the SEC filing. 0.97% of the stock is currently owned by insiders.

Tenet Healthcare Trading Up 4.6%

NYSE:THC opened at $192.16 on Thursday. The firm has a market capitalization of $16.55 billion, a P/E ratio of 9.99, a PEG ratio of 1.51 and a beta of 1.27. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.36 and a quick ratio of 1.30. Tenet Healthcare Corporation has a one year low of $146.60 and a one year high of $247.21. The company’s 50-day simple moving average is $184.15 and its 200 day simple moving average is $197.51.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.61. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm earned $4.36 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, analysts forecast that Tenet Healthcare Corporation will post 17.61 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on THC shares. Guggenheim cut their price target on shares of Tenet Healthcare from $283.00 to $252.00 and set a “buy” rating on the stock in a 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. Barclays boosted their price target on shares of Tenet Healthcare from $238.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Royal Bank Of Canada lowered their price objective on shares of Tenet Healthcare from $277.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Finally, Weiss Ratings cut Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $245.37.

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.