Geode Capital Management LLC Has $342.58 Million Position in Tenet Healthcare Corporation $THC

Geode Capital Management LLC reduced its stake in Tenet Healthcare Corporation (NYSE:THC) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,723,563 shares of the company’s stock after selling 54,422 shares during the period. Geode Capital Management LLC’s holdings in Tenet Healthcare were worth $342,575,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. WCM Investment Management LLC boosted its stake in shares of Tenet Healthcare by 244.4% in the 3rd quarter. WCM Investment Management LLC now owns 510,224 shares of the company’s stock valued at $102,657,000 after purchasing an additional 362,083 shares in the last quarter. AlphaQuest LLC raised its holdings in Tenet Healthcare by 238.3% in the 3rd quarter. AlphaQuest LLC now owns 5,965 shares of the company’s stock valued at $1,211,000 after buying an additional 4,202 shares during the last quarter. Savant Capital LLC raised its holdings in Tenet Healthcare by 27.5% in the 3rd quarter. Savant Capital LLC now owns 16,894 shares of the company’s stock valued at $3,430,000 after buying an additional 3,647 shares during the last quarter. Caption Management LLC bought a new position in Tenet Healthcare in the 3rd quarter valued at approximately $5,650,000. Finally, Eminence Capital LP bought a new position in Tenet Healthcare in the 3rd quarter valued at approximately $225,263,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tenet Healthcare

In other news, EVP Thomas W. Arnst sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $238.85, for a total transaction of $1,910,800.00. Following the completion of the sale, the executive vice president owned 12 shares of the company’s stock, valued at $2,866.20. This trade represents a 99.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director J Robert Kerrey sold 5,638 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 16,804 shares of the company’s stock, valued at approximately $2,932,634.08. This trade represents a 25.12% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 23,138 shares of company stock worth $4,976,589. Corporate insiders own 0.97% of the company’s stock.

Tenet Healthcare Stock Down 3.2%

Tenet Healthcare stock opened at $169.66 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.30 and a current ratio of 1.36. Tenet Healthcare Corporation has a 52-week low of $146.60 and a 52-week high of $247.21. The firm has a 50 day moving average price of $189.23 and a two-hundred day moving average price of $201.72. The firm has a market cap of $14.61 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 1.15 and a beta of 1.28.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Thursday, April 30th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.21 by $0.61. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.39 billion. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. Equities analysts predict that Tenet Healthcare Corporation will post 17.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. Morgan Stanley set a $254.00 price objective on shares of Tenet Healthcare in a report on Friday, May 1st. Leerink Partners raised their price objective on shares of Tenet Healthcare from $255.00 to $264.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Truist Financial raised their price target on shares of Tenet Healthcare from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Robert W. Baird lowered their price target on shares of Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Nineteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.16.

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.