Tenet Healthcare (NYSE:THC) CEO Sells $13,935,500.00 in Stock

Tenet Healthcare Corporation (NYSE:THC) CEO Saumya Sutaria sold 50,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $278.71, for a total value of $13,935,500.00. Following the transaction, the chief executive officer owned 483,564 shares of the company’s stock, valued at approximately $134,774,122.44. This represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Tenet Healthcare Trading Up 0.8%

NYSE:THC traded up $2.18 during trading hours on Wednesday, reaching $274.06. 513,308 shares of the stock were exchanged, compared to its average volume of 844,938. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $22.07 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.04 and a beta of 1.23. Tenet Healthcare Corporation has a twelve month low of $157.58 and a twelve month high of $283.05. The business has a 50-day moving average of $226.21 and a two-hundred day moving average of $208.66.

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. 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 analyst estimates of $5.43 billion. During the same period in the prior year, the business earned $4.02 EPS. The firm’s quarterly 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. On average, equities analysts predict that Tenet Healthcare Corporation will post 20.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on THC. Truist Financial upped their price objective on Tenet Healthcare from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. TD Cowen lifted their price target on Tenet Healthcare from $233.00 to $263.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Guggenheim boosted their target price on shares of Tenet Healthcare from $242.00 to $283.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $305.00 target price on shares of Tenet Healthcare in a report on Tuesday, July 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tenet Healthcare in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $273.00.

Institutional Trading of Tenet Healthcare

A number of hedge funds have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Tenet Healthcare in the 2nd quarter valued at about $5,504,000. California State Teachers Retirement System boosted its position in shares of Tenet Healthcare by 18,362.2% in the second quarter. California State Teachers Retirement System now owns 18,885,726 shares of the company’s stock worth $3,533,142,000 after acquiring an additional 18,783,432 shares during the last quarter. Compass Financial Management LLC acquired a new position in Tenet Healthcare during the second quarter worth approximately $57,000. AlphaGrep UK Ltd purchased a new position in Tenet Healthcare during the second quarter worth approximately $344,000. Finally, BAM Wealth Management LLC boosted its holdings in shares of Tenet Healthcare by 73.1% in the 2nd quarter. BAM Wealth Management LLC now owns 2,421 shares of the company’s stock valued at $453,000 after purchasing an additional 1,022 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

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.