Ardsley Advisory Partners LP Has $4.97 Million Stock Holdings in Tenet Healthcare Corporation $THC

Key Points

• Ardsley Advisory Partners reduced its Tenet Healthcare stake by 28.6% in the fourth quarter, selling 10,000 shares and leaving it with 25,000 shares worth about $4.97 million.
• Several other institutional investors recently made small new purchases, while overall institutional ownership remains high at 95.44%. Insider selling also occurred, with directors J. Robert Kerrey and Nadja West reducing their holdings.
• Analyst sentiment remains constructive overall: Tenet Healthcare has 18 Buy ratings and 4 Hold ratings, with an average Moderate Buy rating and a consensus price target of $244.16, even after some firms lowered targets.

Ardsley Advisory Partners LP cut its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 28.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,000 shares of the company's stock after selling 10,000 shares during the quarter. Ardsley Advisory Partners LP's holdings in Tenet Healthcare were worth $4,968,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new stake in Tenet Healthcare in the third quarter worth about $25,000. Activest Wealth Management bought a new position in shares of Tenet Healthcare during the 4th quarter valued at about $26,000. Elyxium Wealth LLC bought a new position in shares of Tenet Healthcare during the 4th quarter valued at about $29,000. Canada Pension Plan Investment Board bought a new position in shares of Tenet Healthcare during the 2nd quarter valued at about $35,000. Finally, Meeder Asset Management Inc. lifted its stake in Tenet Healthcare by 146.2% in the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company's stock valued at $38,000 after acquiring an additional 114 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director J Robert Kerrey sold 5,638 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $174.52, for a total value of $983,943.76. Following the completion of the sale, the director owned 16,804 shares of the company's stock, valued at approximately $2,932,634.08. This represents a 25.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Nadja West sold 3,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total value of $532,050.00. Following the completion of the sale, the director directly owned 24,805 shares of the company's stock, valued at approximately $4,399,166.75. The trade was a 10.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on THC. Royal Bank Of Canada lowered their price objective on shares of Tenet Healthcare from $277.00 to $236.00 and set an "outperform" rating on the stock in a report on Friday, May 1st. Morgan Stanley set a $254.00 target price on Tenet Healthcare in a report on Friday, May 1st. Weiss Ratings lowered Tenet Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 2nd. Barclays decreased their price objective on Tenet Healthcare from $257.00 to $238.00 and set an "overweight" rating on the stock in a report on Tuesday, May 5th. Finally, KeyCorp decreased their price objective on Tenet Healthcare from $250.00 to $225.00 and set an "overweight" rating on the stock in a report on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $244.16.

Tenet Healthcare Price Performance

Shares of THC stock opened at $178.63 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.36 and a debt-to-equity ratio of 1.96. The company has a market cap of $15.39 billion, a P/E ratio of 9.29, a P/E/G ratio of 1.51 and a beta of 1.28. Tenet Healthcare Corporation has a twelve month low of $146.60 and a twelve month high of $247.21. The business has a fifty day simple moving average of $183.44 and a 200 day simple moving average of $199.04.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.21 by $0.61. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.39 billion. Tenet Healthcare had a return on equity of 25.55% and a net margin of 7.94%.The business's quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $4.36 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, sell-side analysts forecast that Tenet Healthcare Corporation will post 17.61 EPS for the current fiscal year.

About Tenet Healthcare

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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