Bank of New York Mellon Corp bought a new stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 568,432 shares of the company's stock, valued at approximately $106,342,000. Bank of New York Mellon Corp owned about 0.66% of Tenet Healthcare at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Swedbank AB increased its stake in Tenet Healthcare by 14.7% during the 4th quarter. Swedbank AB now owns 146,133 shares of the company's stock worth $29,040,000 after acquiring an additional 18,750 shares during the period. Hsbc Holdings PLC lifted its stake in Tenet Healthcare by 3,478.7% in the 4th quarter. Hsbc Holdings PLC now owns 266,400 shares of the company's stock valued at $53,269,000 after purchasing an additional 258,956 shares during the last quarter. Jackson Creek Investment Advisors LLC lifted its stake in shares of Tenet Healthcare by 235.6% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 9,032 shares of the company's stock valued at $1,795,000 after acquiring an additional 6,341 shares during the last quarter. Brandywine Global Investment Management LLC raised its position in Tenet Healthcare by 20.5% in the fourth quarter. Brandywine Global Investment Management LLC now owns 126,248 shares of the company's stock valued at $25,088,000 after purchasing an additional 21,435 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Tenet Healthcare in the 1st quarter valued at approximately $4,812,000. 95.44% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
THC has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on Tenet Healthcare from $254.00 to $274.00 and gave the company an "overweight" rating in a report on Monday, July 27th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Tenet Healthcare in a research report on Monday, July 27th. Wells Fargo & Company raised their price objective on Tenet Healthcare from $231.00 to $281.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Guggenheim lifted their price objective on shares of Tenet Healthcare from $242.00 to $283.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $305.00 target price on shares of Tenet Healthcare in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of "Buy" and a consensus price target of $273.00.
Check Out Our Latest Research Report on THC
Tenet Healthcare Price Performance
Shares of NYSE:THC opened at $278.71 on Tuesday. The company's 50-day moving average is $222.52 and its 200 day moving average is $207.54. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41. Tenet Healthcare Corporation has a fifty-two week low of $157.58 and a fifty-two week high of $283.05. The company has a market capitalization of $22.44 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 1.07 and a beta of 1.23.
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, beating the consensus estimate of $4.26 by $1.86. The business 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%.Tenet Healthcare's revenue was up 6.8% compared to the same quarter last year. During the same period in the prior 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 research analysts forecast that Tenet Healthcare Corporation will post 20.97 earnings per share for the current year.
Insider Buying and Selling at Tenet Healthcare
In other news, EVP Lisa Y. Foo sold 10,000 shares of the company's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $258.03, for a total transaction of $2,580,300.00. Following the sale, the executive vice president directly owned 32,053 shares in the company, valued at $8,270,635.59. This represents a 23.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher S. Lynch sold 3,837 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $243.44, for a total transaction of $934,079.28. Following the completion of the sale, the director owned 9,568 shares in the company, valued at $2,329,233.92. This represents a 28.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 41,375 shares of company stock worth $9,793,347. Company insiders own 0.97% of the company's stock.
Tenet Healthcare Profile
(
Free Report)
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.
See Also
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