California State Teachers Retirement System Has $18.89 Million Stake in Tenet Healthcare Corporation $THC

California State Teachers Retirement System lessened its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,950 shares of the company's stock after selling 1,344 shares during the period. California State Teachers Retirement System owned 0.13% of Tenet Healthcare worth $18,885,726 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Boston Partners raised its holdings in Tenet Healthcare by 15.7% in the fourth quarter. Boston Partners now owns 3,642,136 shares of the company's stock valued at $723,804,000 after acquiring an additional 494,581 shares in the last quarter. Norges Bank bought a new stake in shares of Tenet Healthcare during the 4th quarter worth about $248,494,000. Manning & Napier Advisors LLC bought a new stake in shares of Tenet Healthcare during the 2nd quarter worth about $168,761,000. Allianz Asset Management GmbH increased its holdings in shares of Tenet Healthcare by 78.1% during the fourth quarter. Allianz Asset Management GmbH now owns 868,134 shares of the company's stock valued at $172,516,000 after acquiring an additional 380,632 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Tenet Healthcare by 57.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company's stock valued at $126,757,000 after buying an additional 244,901 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on THC. TD Cowen increased their target price on Tenet Healthcare from $233.00 to $263.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Piper Sandler set a $308.00 price objective on shares of Tenet Healthcare in a research note on Monday, July 27th. Wall Street Zen upgraded shares of Tenet Healthcare from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 23rd. Weiss Ratings upgraded shares of Tenet Healthcare from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 20th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Tenet Healthcare in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Buy" and a consensus target price of $275.53.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Richard Mark sold 10,000 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $263.42, for a total transaction of $2,634,200.00. Following the completion of the sale, the director directly owned 25,121 shares of the company's stock, valued at approximately $6,617,373.82. This represents a 28.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tammy Romo sold 4,922 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $264.15, for a total value of $1,300,146.30. Following the sale, the director owned 30,784 shares of the company's stock, valued at approximately $8,131,593.60. The trade was a 13.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 119,189 shares of company stock valued at $31,898,309 in the last ninety days. Company insiders own 0.97% of the company's stock.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded down $3.48 during midday trading on Tuesday, reaching $261.02. The company's stock had a trading volume of 227,705 shares, compared to its average volume of 1,188,359. The firm has a market capitalization of $21.02 billion, a PE ratio of 10.07, a P/E/G ratio of 1.01 and a beta of 1.23. The stock's 50 day simple moving average is $246.18 and its 200 day simple moving average is $212.44. 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.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.26 by $1.86. The company 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 previous year, the company posted $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 21.04 earnings per share for the current year.

Tenet Healthcare Profile

Tenet Healthcare Corporation NYSE: THC is a diversified healthcare services company that owns and operates acute care hospitals and other healthcare facilities in the United States. Its hospitals provide services including emergency care, surgery, cardiovascular care, orthopedics, oncology, women's health and other inpatient and outpatient treatments.

Through its ambulatory business, United Surgical Partners International, Tenet operates and manages ambulatory surgery centers and other outpatient facilities.

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