Cetera Investment Advisers Sells 3,689 Shares of Tenet Healthcare Corporation $THC

Cetera Investment Advisers trimmed its stake in Tenet Healthcare Corporation (NYSE:THC) by 7.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,991 shares of the company’s stock after selling 3,689 shares during the period. Cetera Investment Advisers’ holdings in Tenet Healthcare were worth $8,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THC. Price T Rowe Associates Inc. MD raised its position in shares of Tenet Healthcare by 1.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,490,350 shares of the company’s stock valued at $1,488,484,000 after buying an additional 119,809 shares during the last quarter. Boston Partners raised its position in shares of Tenet Healthcare by 15.7% during the 4th quarter. Boston Partners now owns 3,642,136 shares of the company’s stock valued at $723,804,000 after buying an additional 494,581 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Tenet Healthcare by 20.3% in the 4th quarter. AQR Capital Management LLC now owns 2,256,539 shares of the company’s stock valued at $448,419,000 after purchasing an additional 380,116 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Tenet Healthcare by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock worth $373,020,000 after buying an additional 157,109 shares during the last quarter. Finally, Norges Bank bought a new position in Tenet Healthcare during the fourth quarter valued at $248,494,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value of $983,943.76. Following the transaction, the director directly owned 16,804 shares in the company, valued at approximately $2,932,634.08. This trade represents a 25.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Y. Foo sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $258.03, for a total transaction of $2,580,300.00. Following the completion of the transaction, the executive vice president owned 32,053 shares of the company’s stock, valued at $8,270,635.59. This represents a 23.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 33,353 shares of company stock worth $7,683,517. 0.97% of the stock is owned by corporate insiders.

Tenet Healthcare Trading Up 0.9%

Shares of NYSE THC opened at $254.88 on Friday. Tenet Healthcare Corporation has a twelve month low of $156.71 and a twelve month high of $262.68. The firm has a market cap of $21.96 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.96 and a beta of 1.27. The business has a fifty day simple moving average of $192.10 and a two-hundred day simple moving average of $199.35. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00.

Tenet Healthcare (NYSE:THC) last posted 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. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The business had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company earned $4.02 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Analysts expect that Tenet Healthcare Corporation will post 21.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. TD Cowen boosted their target price on Tenet Healthcare from $233.00 to $263.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial raised their price target on Tenet Healthcare from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird boosted their price objective on Tenet Healthcare from $210.00 to $280.00 and gave the company a “neutral” rating in a report on Tuesday. Stephens reiterated an “overweight” rating and issued a $285.00 target price on shares of Tenet Healthcare in a research note on Monday. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $305.00 target price on shares of Tenet Healthcare in a research note on Tuesday. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Tenet Healthcare currently has an average rating of “Moderate Buy” and an average price target of $268.50.

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.