Globeflex Capital L P Makes New $6.76 Million Investment in Tenet Healthcare Corporation $THC

Globeflex Capital L P purchased a new stake in Tenet Healthcare Corporation (NYSE:THC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 36,149 shares of the company’s stock, valued at approximately $6,763,000. Tenet Healthcare comprises approximately 0.9% of Globeflex Capital L P’s investment portfolio, making the stock its 26th largest holding.

Several other large investors have also bought and sold shares of the business. Triumph Capital Management bought a new position in shares of Tenet Healthcare in the third quarter worth about $25,000. Activest Wealth Management bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new position in Tenet Healthcare during the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. boosted its position in Tenet Healthcare by 146.2% in the fourth quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock valued at $38,000 after buying an additional 114 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Tenet Healthcare during the second quarter worth $35,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director Roy Blunt sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $262.68, for a total value of $157,608.00. Following the completion of the sale, the director owned 4,589 shares of the company’s stock, valued at approximately $1,205,438.52. This trade represents a 11.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tammy Romo sold 2,500 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $260.83, for a total value of $652,075.00. Following the completion of the transaction, the director owned 28,284 shares in the company, valued at approximately $7,377,315.72. This represents a 8.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 41,375 shares of company stock valued at $9,793,347. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on THC. Wells Fargo & Company raised their price objective on Tenet Healthcare from $231.00 to $281.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Mizuho set a $290.00 target price on Tenet Healthcare in a research report on Monday, August 10th. Robert W. Baird lifted their price target on Tenet Healthcare from $210.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Guggenheim upped their price objective on Tenet Healthcare from $242.00 to $283.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Truist Financial lifted their target price on shares of Tenet Healthcare from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $273.00.

Tenet Healthcare Trading Down 0.1%

THC opened at $280.60 on Monday. The company has a fifty day moving average price of $220.53 and a two-hundred day moving average price of $206.93. Tenet Healthcare Corporation has a 1-year low of $157.58 and a 1-year high of $280.89. The company has a market cap of $22.59 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.07 and a beta of 1.23. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data 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 net margin of 10.27% and a return on equity of 26.76%. The company had revenue of $6.04 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the firm earned $4.02 EPS. The business’s revenue was up 6.8% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Analysts predict that Tenet Healthcare Corporation will post 20.97 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.