8 Knots Management LLC Trims Stock Position in Tenet Healthcare Corporation $THC

Key Points

• 8 Knots Management trimmed its stake in Tenet by 46.6% to 147,172 shares (about $29.9M), reducing its ownership to roughly 0.17% of the company while the position remains its 12th-largest holding.
• Several large institutions increased or opened positions—Norges Bank bought a new stake (~$207M) and Boston Partners, AQR, AllianceBernstein and Holocene made sizable additions—leaving institutional ownership at about 95.44%.
• Tenet beat earnings (Q: $4.70 EPS vs. $4.08 expected; revenue +8.9% YoY), insiders have recently sold ~48,695 shares (~$11.37M), and analysts maintain a "Moderate Buy" consensus with an average target of $250.56.

8 Knots Management LLC trimmed its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 46.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,172 shares of the company's stock after selling 128,387 shares during the period. Tenet Healthcare accounts for about 3.4% of 8 Knots Management LLC's investment portfolio, making the stock its 12th biggest holding. 8 Knots Management LLC owned about 0.17% of Tenet Healthcare worth $29,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of THC. Norges Bank bought a new stake in Tenet Healthcare during the 2nd quarter valued at approximately $206,981,000. Boston Partners raised its position in shares of Tenet Healthcare by 95.0% in the 2nd quarter. Boston Partners now owns 2,267,142 shares of the company's stock worth $398,949,000 after acquiring an additional 1,104,500 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Tenet Healthcare by 62.3% during the third quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company's stock valued at $380,989,000 after purchasing an additional 720,160 shares in the last quarter. Alliancebernstein L.P. grew its stake in Tenet Healthcare by 375.7% in the second quarter. Alliancebernstein L.P. now owns 790,254 shares of the company's stock worth $139,085,000 after purchasing an additional 624,125 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Tenet Healthcare in the second quarter worth $102,855,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insiders Place Their Bets

In other news, EVP Thomas W. Arnst sold 24,000 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $234.04, for a total value of $5,616,960.00. Following the completion of the transaction, the executive vice president owned 8,012 shares in the company, valued at $1,875,128.48. The trade was a 74.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nadja West sold 2,178 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $197.47, for a total value of $430,089.66. Following the sale, the director directly owned 28,480 shares in the company, valued at $5,623,945.60. This trade represents a 7.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,695 shares of company stock worth $11,373,201 over the last three months. Company insiders own 0.81% of the company's stock.

Tenet Healthcare Stock Up 1.4%

NYSE:THC opened at $227.79 on Friday. The firm has a 50-day simple moving average of $213.46 and a two-hundred day simple moving average of $204.15. The firm has a market cap of $19.81 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.12 and a beta of 1.39. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $247.21. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.68 and a current ratio of 1.76.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $4.70 EPS for the quarter, beating analysts' consensus estimates of $4.08 by $0.62. Tenet Healthcare had a net margin of 6.60% and a return on equity of 26.33%. The firm had revenue of $5.53 billion for the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter in the prior year, the company posted $3.44 earnings per share. The business's revenue for the quarter was up 8.9% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 16.190-18.470 EPS. Analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on THC shares. Guggenheim boosted their target price on shares of Tenet Healthcare from $271.00 to $283.00 and gave the company a "buy" rating in a report on Thursday. TD Cowen reissued a "buy" rating on shares of Tenet Healthcare in a research report on Thursday, February 12th. Mizuho boosted their price objective on shares of Tenet Healthcare from $235.00 to $265.00 and gave the stock an "outperform" rating in a research note on Thursday. Truist Financial raised their target price on shares of Tenet Healthcare from $240.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings raised Tenet Healthcare from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $250.56.

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.

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