Bank of America Corp DE Sells 426,247 Shares of Tenet Healthcare Corporation $THC

Key Points

• Bank of America reduced its Tenet Healthcare stake by 35.6%, selling 426,247 shares and retaining 771,825 shares worth approximately $145.7 million. Institutional investors collectively own 95.44% of the company.
• Tenet reported quarterly EPS of $6.12, beating estimates of $4.26, while revenue reached $6.04 billion and rose 6.8% year over year. The company issued fiscal 2026 EPS guidance of $20.30–$21.69.
• Wall Street remains broadly bullish, with 17 analysts rating the stock a Buy and a consensus price target of $271. Recent insider activity was negative, however, as insiders sold 33,353 shares worth $7.7 million over the past 90 days.

Bank of America Corp DE trimmed its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 35.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 771,825 shares of the company's stock after selling 426,247 shares during the quarter. Bank of America Corp DE owned approximately 0.90% of Tenet Healthcare worth $145,651,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Tenet Healthcare by 1.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,490,350 shares of the company's stock valued at $1,488,484,000 after purchasing an additional 119,809 shares during the period. Boston Partners grew its holdings in shares of Tenet Healthcare by 15.7% during the 4th quarter. Boston Partners now owns 3,642,136 shares of the company's stock worth $723,804,000 after purchasing an additional 494,581 shares in the last quarter. AQR Capital Management LLC increased its stake in Tenet Healthcare by 20.3% in the fourth quarter. AQR Capital Management LLC now owns 2,256,539 shares of the company's stock valued at $448,419,000 after acquiring an additional 380,116 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Tenet Healthcare by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company's stock worth $373,020,000 after acquiring an additional 157,109 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Tenet Healthcare in the 4th quarter valued at $248,494,000. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Up 3.5%

Shares of THC opened at $262.20 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. Tenet Healthcare Corporation has a twelve month low of $157.58 and a twelve month high of $263.60. The stock has a market cap of $22.59 billion, a PE ratio of 10.11, a P/E/G ratio of 0.96 and a beta of 1.23. The business's 50-day moving average price is $196.78 and its 200-day moving average price is $200.54.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Tenet Healthcare in a report on Monday, July 27th. Raymond James Financial set a $270.00 price target on shares of Tenet Healthcare in a report on Monday, July 27th. Morgan Stanley boosted their price target on shares of Tenet Healthcare from $254.00 to $274.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Barclays raised their price objective on Tenet Healthcare from $240.00 to $271.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Finally, Stephens reissued an "overweight" rating and issued a $285.00 price objective on shares of Tenet Healthcare in a research report on Monday, July 27th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average price target of $271.00.

Insider Buying and Selling

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,837 shares of the company's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $243.44, for a total value of $934,079.28. Following the completion of the sale, the director owned 9,568 shares of the company's stock, valued at $2,329,233.92. This represents a 28.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nadja West sold 3,000 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total transaction of $532,050.00. Following the sale, the director 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,353 shares of company stock worth $7,683,517 over the last ninety days. Corporate insiders own 0.97% of the company's stock.

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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