California State Teachers Retirement System Grows Position in Tenet Healthcare Corporation $THC

Key Points

• California State Teachers Retirement System increased its Tenet Healthcare stake by 22.1% in the first quarter to 102,294 shares valued at approximately $19.3 million. Institutional investors and hedge funds collectively own 95.44% of the company.
• Tenet Healthcare reported a strong quarterly performance, with earnings of $6.12 per share versus the $4.26 consensus estimate and revenue of $6.04 billion, up 6.8% year over year.
• Analyst sentiment remains positive, with 17 Buy ratings and three Holds; the stock carries a “Moderate Buy” consensus rating and an average price target of $268.50. Recent insider activity, however, included more than $7.6 million in stock sales over 90 days.

California State Teachers Retirement System raised its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 22.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,294 shares of the company's stock after acquiring an additional 18,504 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Tenet Healthcare worth $19,304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC grew its stake in shares of Tenet Healthcare by 22.1% during the first quarter. Empowered Funds LLC now owns 284,753 shares of the company's stock worth $53,736,000 after purchasing an additional 51,549 shares in the last quarter. Eversept Partners LP acquired a new stake in Tenet Healthcare in the first quarter valued at $5,569,000. Quantinno Capital Management LP lifted its holdings in Tenet Healthcare by 17.1% during the 1st quarter. Quantinno Capital Management LP now owns 121,243 shares of the company's stock worth $22,880,000 after buying an additional 17,705 shares during the last quarter. Waverly Advisors LLC increased its holdings in shares of Tenet Healthcare by 13.8% in the 1st quarter. Waverly Advisors LLC now owns 4,125 shares of the company's stock valued at $778,000 after acquiring an additional 499 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Tenet Healthcare by 535.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 127,677 shares of the company's stock worth $24,094,000 after acquiring an additional 107,600 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 10,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $258.03, for a total value of $2,580,300.00. Following the transaction, the executive vice president directly owned 32,053 shares in the company, valued at approximately $8,270,635.59. This trade represents a 23.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher S. Lynch sold 3,837 shares of the business's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $243.44, for a total value of $934,079.28. Following the completion of the transaction, the director directly owned 9,568 shares in the company, valued at approximately $2,329,233.92. The trade was a 28.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 33,353 shares of company stock valued at $7,683,517. Insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

THC has been the subject of a number of research analyst reports. Stephens reaffirmed an "overweight" rating and issued a $285.00 price target on shares of Tenet Healthcare in a report on Monday, July 27th. Morgan Stanley boosted their price objective on shares of Tenet Healthcare from $254.00 to $274.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th. Barclays increased their target price on shares of Tenet Healthcare from $240.00 to $271.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. KeyCorp reduced their price target on shares of Tenet Healthcare from $250.00 to $225.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Tenet Healthcare in a report on Monday, July 27th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average target price of $268.50.

Tenet Healthcare Stock Performance

Shares of THC opened at $254.88 on Friday. The company's 50 day simple moving average is $192.10 and its 200-day simple moving average is $199.35. Tenet Healthcare Corporation has a 12-month low of $156.71 and a 12-month high of $262.68. The firm has a market cap of $21.96 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.97 and a beta of 1.27. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share for the quarter, topping analysts' consensus estimates of $4.26 by $1.86. The firm had revenue of $6.04 billion during the quarter, compared to analysts' expectations of $5.43 billion. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. Tenet Healthcare's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.02 EPS. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. As a group, equities analysts predict that Tenet Healthcare Corporation will post 21.09 EPS for the current 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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