Globeflex Capital L P Lowers Stake in Tenet Healthcare Corporation $THC

Key Points

• Globeflex Capital L P cut its stake in Tenet Healthcare by 25.2% in the first quarter, leaving it with 36,235 shares worth about $6.84 million.
• Tenet Healthcare’s latest quarter beat earnings expectations, posting $4.82 EPS versus estimates of $4.21, while revenue came in at $5.37 billion and rose 2.6% year over year.
• Wall Street remains broadly positive on the stock, with 17 Buy ratings and 4 Holds, giving Tenet Healthcare a consensus rating of Moderate Buy and an average price target of $244.84.

Globeflex Capital L P decreased its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 25.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,235 shares of the company's stock after selling 12,189 shares during the quarter. Tenet Healthcare accounts for approximately 1.0% of Globeflex Capital L P's portfolio, making the stock its 21st largest position. Globeflex Capital L P's holdings in Tenet Healthcare were worth $6,838,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC lifted its stake in Tenet Healthcare by 6.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,890 shares of the company's stock worth $389,000 after acquiring an additional 166 shares in the last quarter. Jones Financial Companies Lllp grew its position in Tenet Healthcare by 299.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company's stock valued at $229,000 after acquiring an additional 1,274 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Tenet Healthcare during the second quarter worth about $290,000. Quantbot Technologies LP purchased a new position in shares of Tenet Healthcare in the second quarter valued at approximately $65,000. Finally, Amundi increased its stake in Tenet Healthcare by 4,207.8% during the 2nd quarter. Amundi now owns 27,010 shares of the company's stock worth $4,652,000 after buying an additional 26,383 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank Of Canada decreased their price target on shares of Tenet Healthcare from $277.00 to $236.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. KeyCorp reduced their price objective on Tenet Healthcare from $250.00 to $225.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. TD Cowen decreased their target price on Tenet Healthcare from $242.00 to $233.00 and set a "buy" rating for the company in a report on Monday, June 22nd. Morgan Stanley set a $254.00 price target on Tenet Healthcare in a report on Friday, May 1st. Finally, Robert W. Baird decreased their price objective on Tenet Healthcare from $245.00 to $210.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $244.84.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $195.84 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.30 and a debt-to-equity ratio of 1.96. The company has a fifty day simple moving average of $184.41 and a 200-day simple moving average of $197.37. The stock has a market cap of $16.87 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. Tenet Healthcare Corporation has a 12-month low of $146.60 and a 12-month high of $247.21.

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

Insider Activity at Tenet Healthcare

In related 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 of the company's stock, valued at $2,932,634.08. This represents a 25.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nadja West sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $177.35, for a total transaction of $532,050.00. Following the sale, the director directly 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 SEC filing for this sale provides additional information. 0.97% of the stock is owned by insiders.

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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