Legal & General Group Plc Trims Holdings in Tenet Healthcare Corporation $THC

Legal & General Group Plc trimmed its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,220 shares of the company’s stock after selling 9,436 shares during the period. Legal & General Group Plc’s holdings in Tenet Healthcare were worth $28,858,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triumph Capital Management acquired a new stake in Tenet Healthcare during the third quarter worth about $25,000. Activest Wealth Management acquired a new stake in Tenet Healthcare during the fourth quarter worth about $26,000. Elyxium Wealth LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth about $29,000. Canada Pension Plan Investment Board acquired a new stake in Tenet Healthcare during the second quarter worth about $35,000. Finally, Westside Investment Management Inc. grew its holdings in Tenet Healthcare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock worth $39,000 after acquiring an additional 96 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 value of $983,943.76. Following the transaction, the director owned 16,804 shares in the company, valued at $2,932,634.08. This trade represents a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nadja West sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total value of $532,050.00. Following the completion of the transaction, the director owned 24,805 shares in the company, valued at approximately $4,399,166.75. This trade represents a 10.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 55,155 shares of company stock valued at $12,459,105. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on THC. Wall Street Zen lowered Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Tenet Healthcare in a report on Friday, March 27th. UBS Group raised their price objective on Tenet Healthcare from $260.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Truist Financial raised their price objective on Tenet Healthcare from $240.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, Barclays dropped their price objective on Tenet Healthcare from $257.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Nineteen equities 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.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.16.

Tenet Healthcare Stock Performance

NYSE THC opened at $174.83 on Friday. The company has a market cap of $15.06 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The stock’s 50 day simple moving average is $189.94 and its 200-day simple moving average is $201.87. Tenet Healthcare Corporation has a 1-year low of $146.60 and a 1-year high of $247.21. 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 (NYSE:THC) last released its earnings results on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.61. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.39 billion. Tenet Healthcare had a return on equity of 25.55% and a net margin of 7.94%.The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.36 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, equities research analysts anticipate that Tenet Healthcare Corporation will post 17.67 EPS for the current fiscal year.

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.