Wedge Capital Management L L P NC Grows Holdings in Tenet Healthcare Corporation $THC

Wedge Capital Management L L P NC increased its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 37.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 221,453 shares of the company’s stock after acquiring an additional 60,478 shares during the period. Wedge Capital Management L L P NC owned approximately 0.26% of Tenet Healthcare worth $41,429,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Swedbank AB lifted its position in shares of Tenet Healthcare by 14.7% during the 4th quarter. Swedbank AB now owns 146,133 shares of the company’s stock valued at $29,040,000 after buying an additional 18,750 shares in the last quarter. Hsbc Holdings PLC raised its position in Tenet Healthcare by 3,478.7% during the fourth quarter. Hsbc Holdings PLC now owns 266,400 shares of the company’s stock worth $53,269,000 after acquiring an additional 258,956 shares during the period. Jackson Creek Investment Advisors LLC lifted its holdings in Tenet Healthcare by 235.6% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 9,032 shares of the company’s stock valued at $1,795,000 after purchasing an additional 6,341 shares in the last quarter. Brandywine Global Investment Management LLC grew its position in shares of Tenet Healthcare by 20.5% in the fourth quarter. Brandywine Global Investment Management LLC now owns 126,248 shares of the company’s stock valued at $25,088,000 after purchasing an additional 21,435 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Tenet Healthcare during the first quarter worth about $4,812,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Activity

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $258.03, for a total value of $2,580,300.00. Following the sale, the executive vice president directly owned 32,053 shares of the company’s stock, valued at approximately $8,270,635.59. This represents a 23.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Paola M. Arbour sold 10,878 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $243.90, for a total transaction of $2,653,144.20. Following the completion of the sale, the executive vice president owned 18,413 shares in the company, valued at $4,490,930.70. The trade was a 37.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 41,375 shares of company stock valued at $9,793,347. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on THC. Guggenheim lifted their price objective on Tenet Healthcare from $242.00 to $283.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Truist Financial raised their target price on Tenet Healthcare from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tenet Healthcare in a research note on Monday, July 27th. KeyCorp reduced their price objective on Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Finally, Robert W. Baird upped their price objective on Tenet Healthcare from $210.00 to $280.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $272.25.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $259.74 on Wednesday. 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 company has a market capitalization of $20.91 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 0.99 and a beta of 1.23. The company’s 50 day simple moving average is $203.92 and its 200-day simple moving average is $202.38. Tenet Healthcare Corporation has a 1 year low of $157.58 and a 1 year high of $265.32.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The firm had revenue of $6.04 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the firm earned $4.02 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. As a group, equities research analysts expect that Tenet Healthcare Corporation will post 21.09 earnings per share for the current year.

Tenet Healthcare Company Profile

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.