25,103 Shares in Tenet Healthcare Corporation $THC Bought by CX Institutional

Key Points

• CX Institutional purchased 25,103 Tenet Healthcare shares during the third quarter, valued at approximately $6.4 million. Institutional investors collectively own 95.44% of THC.
• Tenet reported quarterly EPS of $6.12, exceeding analyst estimates of $4.26, while revenue reached $6.04 billion and increased 6.8% year over year.
• Analysts remain broadly positive, with 18 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $277.25. However, insiders sold 131,199 shares worth approximately $35.1 million during the last quarter.

CX Institutional purchased a new stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 25,103 shares of the company's stock, valued at approximately $6,415,000.

A number of other large investors have also recently made changes to their positions in THC. Boston Partners boosted its position in shares of Tenet Healthcare by 15.7% during the fourth quarter. Boston Partners now owns 3,642,136 shares of the company's stock valued at $723,804,000 after buying an additional 494,581 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Tenet Healthcare in the 2nd quarter worth about $168,761,000. Allianz Asset Management GmbH lifted its position in shares of Tenet Healthcare by 78.1% during the 4th quarter. Allianz Asset Management GmbH now owns 868,134 shares of the company's stock worth $172,516,000 after buying an additional 380,632 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Tenet Healthcare by 57.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company's stock valued at $126,757,000 after acquiring an additional 244,901 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Tenet Healthcare in the second quarter worth $106,342,000. 95.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Richard J. Mark sold 10,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the completion of the sale, the director directly owned 25,121 shares in the company, valued at approximately $6,617,373.82. This represents a 28.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Robert Kerrey sold 12,010 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $263.72, for a total value of $3,167,277.20. Following the completion of the sale, the director owned 4,794 shares of the company's stock, valued at approximately $1,264,273.68. This trade represents a 71.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 131,199 shares of company stock worth $35,065,587 over the last quarter. Company insiders own 0.97% of the company's stock.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $258.37 on Friday. The business's 50-day moving average price is $262.41 and its 200-day moving average price is $214.73. The firm has a market capitalization of $20.80 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.97 and a beta of 1.20. Tenet Healthcare Corporation has a 12 month low of $157.58 and a 12 month high of $283.05. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 earnings per share for the quarter, topping analysts' consensus estimates of $4.26 by $1.86. The firm 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 business's quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.02 EPS. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Sell-side analysts forecast that Tenet Healthcare Corporation will post 21.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

THC has been the topic of a number of research analyst reports. Guggenheim boosted their price target on shares of Tenet Healthcare from $242.00 to $283.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Morgan Stanley raised their price target on shares of Tenet Healthcare from $254.00 to $274.00 and gave the stock an "overweight" rating in a research note on Monday, July 27th. Zacks Research lowered Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Wall Street Zen downgraded Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $285.00 price objective on shares of Tenet Healthcare in a report on Friday, August 14th. Eighteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $277.25.

About Tenet Healthcare

Tenet Healthcare Corporation is a Dallas-based healthcare services company that operates hospitals, outpatient facilities and other healthcare businesses across the United States. Its operations include acute care hospitals, specialty hospitals, ambulatory surgery centers and related outpatient services.

Through its United Surgical Partners International subsidiary, Tenet is one of the major operators and developers of ambulatory surgery centers in the United States. These facilities provide same-day surgical procedures and other outpatient care across a range of medical specialties.

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