California Public Employees Retirement System Sells 53,923 Shares of Tenet Healthcare Corporation $THC

Key Points

• California Public Employees Retirement System cut its Tenet Healthcare stake by 23.3% in Q1, selling 53,923 shares and leaving it with 177,544 shares valued at about $33.5 million.
• Tenet Healthcare’s latest quarterly results topped earnings expectations, reporting $4.82 EPS versus the $4.21 consensus, while revenue rose 2.6% year over year to $5.37 billion.
• Analysts remain broadly positive on the stock, with 18 Buy ratings and 4 Hold ratings; the consensus price target is $244.84, above the recent share price around $196.

California Public Employees Retirement System lessened its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 23.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,544 shares of the company's stock after selling 53,923 shares during the period. California Public Employees Retirement System owned approximately 0.21% of Tenet Healthcare worth $33,504,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Triumph Capital Management bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $25,000. Activest Wealth Management bought a new stake in Tenet Healthcare during the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new stake in Tenet Healthcare during the fourth quarter valued at approximately $29,000. Canada Pension Plan Investment Board purchased a new position in shares of Tenet Healthcare during the 2nd quarter worth $35,000. Finally, Meeder Asset Management Inc. grew its position in shares of Tenet Healthcare by 146.2% during 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 during the period. Institutional investors own 95.44% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on THC. TD Cowen decreased their target price on Tenet Healthcare from $242.00 to $233.00 and set a "buy" rating on the stock in a report on Monday, June 22nd. Royal Bank Of Canada reduced their price target on Tenet Healthcare from $277.00 to $236.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Robert W. Baird decreased their price objective on Tenet Healthcare from $245.00 to $210.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 5th. Wells Fargo & Company boosted their price objective on Tenet Healthcare from $213.00 to $231.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Finally, Morgan Stanley set a $254.00 target price on shares of Tenet Healthcare in a report on Friday, May 1st. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.84.

Tenet Healthcare Trading Up 0.9%

Shares of THC stock opened at $196.19 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.30 and a current ratio of 1.36. The stock has a fifty day simple moving average of $184.41 and a two-hundred day simple moving average of $197.39. The firm has a market capitalization of $16.90 billion, a PE ratio of 10.20, a PEG ratio of 1.61 and a beta of 1.27. Tenet Healthcare Corporation has a 52-week low of $146.60 and a 52-week high of $247.21.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.21 by $0.61. Tenet Healthcare had a return on equity of 25.55% and a net margin of 7.94%.The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the business earned $4.36 earnings per share. The business's revenue was up 2.6% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, analysts predict that Tenet Healthcare Corporation will post 17.5 EPS for the current fiscal year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,638 shares of the company's stock in a transaction that occurred on 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 transaction, the director directly owned 16,804 shares in the company, valued at $2,932,634.08. This represents a 25.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nadja West sold 3,000 shares of Tenet Healthcare stock in a transaction that occurred on 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 in the company, 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. Corporate insiders own 0.97% of the company's stock.

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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