Engineers Gate Manager LP Sells 50,970 Shares of Tenet Healthcare Corporation $THC

Key Points

• Engineers Gate Manager LP reduced its Tenet Healthcare stake by 82.7% in the second quarter, selling 50,970 shares and retaining 10,660 shares worth approximately $1.99 million. Institutional investors collectively own 95.44% of THC.
• Tenet reported strong quarterly results, with EPS of $6.12 versus $4.26 expected and revenue of $6.04 billion, up 6.8% year over year. The company projects fiscal 2026 EPS of $20.30–$21.69.
• Analysts remain broadly bullish, with 18 Buy ratings, one Strong Buy and one Hold; the average price target is $275.53 versus a recent share price of $260.51. However, insiders sold 119,189 shares worth about $31.9 million in the last quarter.

Engineers Gate Manager LP cut its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 82.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,660 shares of the company's stock after selling 50,970 shares during the period. Engineers Gate Manager LP's holdings in Tenet Healthcare were worth $1,994,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its position in shares of Tenet Healthcare by 49.4% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 6,276 shares of the company's stock worth $1,174,000 after acquiring an additional 2,074 shares in the last quarter. Steamboat Capital Partners LLC grew its stake in Tenet Healthcare by 59.5% in the second quarter. Steamboat Capital Partners LLC now owns 79,074 shares of the company's stock valued at $14,793,000 after purchasing an additional 29,490 shares during the last quarter. Empirical Finance LLC bought a new position in Tenet Healthcare in the second quarter worth about $586,000. Nykredit A S purchased a new stake in shares of Tenet Healthcare during the second quarter valued at about $600,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Tenet Healthcare in the 2nd quarter valued at about $5,504,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $260.51 on Wednesday. Tenet Healthcare Corporation has a 52-week low of $157.58 and a 52-week high of $283.05. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. The stock has a market cap of $20.98 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 1.01 and a beta of 1.23. The business has a 50-day simple moving average of $247.22 and a 200-day simple moving average of $212.60.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.26 by $1.86. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The firm had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the firm posted $4.02 earnings per share. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. On average, equities analysts expect that Tenet Healthcare Corporation will post 21.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on THC. Truist Financial boosted their price objective on shares of Tenet Healthcare from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Raymond James Financial reaffirmed an "outperform" rating and issued a $285.00 price target on shares of Tenet Healthcare in a report on Friday, August 14th. Guggenheim raised their price objective on Tenet Healthcare from $242.00 to $283.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Barclays upped their target price on Tenet Healthcare from $240.00 to $271.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Finally, Morgan Stanley raised their price target on Tenet Healthcare from $254.00 to $274.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $275.53.

Insider Activity at Tenet Healthcare

In related news, Director Richard Mark sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The stock was 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 in the company, valued at approximately $6,617,373.82. The trade was a 28.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Foo sold 24,000 shares of Tenet Healthcare stock in a transaction on Monday, August 31st. The stock was sold at an average price of $266.32, for a total transaction of $6,391,680.00. Following the sale, the executive vice president directly owned 8,053 shares in the company, valued at approximately $2,144,674.96. This trade represents a 74.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 119,189 shares of company stock worth $31,898,309 in the last quarter. Corporate insiders own 0.97% of the company's stock.

Tenet Healthcare Company 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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