Tenet Healthcare Corporation $THC Stock Position Reduced by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. decreased its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 14.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 17,335 shares of the company’s stock after selling 3,044 shares during the period. TD Waterhouse Canada Inc.’s holdings in Tenet Healthcare were worth $4,411,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Tenet Healthcare during the third quarter valued at about $26,000. Davidson Capital Management Inc. boosted its stake in Tenet Healthcare by 1.0% in the 3rd quarter. Davidson Capital Management Inc. now owns 6,712 shares of the company’s stock worth $1,715,000 after purchasing an additional 67 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Tenet Healthcare by 118.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 106,070 shares of the company’s stock worth $27,107,000 after purchasing an additional 57,537 shares during the last quarter. Curated Wealth Partners LLC acquired a new position in Tenet Healthcare during the 3rd quarter valued at approximately $335,000. Finally, Mather Group LLC. increased its stake in Tenet Healthcare by 126.9% during the 3rd quarter. Mather Group LLC. now owns 118 shares of the company’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on THC. Truist Financial lifted their price objective on shares of Tenet Healthcare from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Robert W. Baird upped their target price on Tenet Healthcare from $210.00 to $280.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. The Goldman Sachs Group restated a “buy” rating and issued a $305.00 target price on shares of Tenet Healthcare in a research note on Tuesday, July 28th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tenet Healthcare in a research report on Friday, October 2nd. Finally, BMO Capital Markets initiated coverage on Tenet Healthcare in a research note on Tuesday, September 22nd. They set a “market perform” rating and a $265.00 price target on the stock. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $278.45.

Tenet Healthcare Trading Down 0.3%

Shares of THC stock opened at $266.58 on Tuesday. Tenet Healthcare Corporation has a fifty-two week low of $157.58 and a fifty-two week high of $283.05. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41. The stock’s fifty day moving average is $264.48 and its two-hundred day moving average is $219.84. The firm has a market capitalization of $21.46 billion, a P/E ratio of 10.28, a PEG ratio of 1.02 and a beta of 1.20.

Tenet Healthcare (NYSE:THC) last released its 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. The business had revenue of $6.04 billion during the quarter, compared to analyst estimates of $5.43 billion. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.02 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Research analysts expect that Tenet Healthcare Corporation will post 21.04 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 50,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $278.71, for a total value of $13,935,500.00. Following the completion of the sale, the chief executive officer owned 483,564 shares in the company, valued at approximately $134,774,122.44. This represents a 9.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Robert Kerrey sold 12,010 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $263.72, for a total transaction of $3,167,277.20. Following the completion of the transaction, the director directly owned 4,794 shares in the company, valued at $1,264,273.68. This trade represents a 71.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 131,199 shares of company stock worth $35,065,587 in the last 90 days. 0.97% of the stock is owned by insiders.

Tenet Healthcare Company Profile

Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.

Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.