Hsbc Holdings PLC Sells 6,286 Shares of Tenet Healthcare Corporation $THC

Key Points

• HSBC Holdings PLC reduced its Tenet Healthcare position by 2.4% in the first quarter, selling 6,286 shares and ending with 260,114 shares worth about $48.2 million.
• Tenet Healthcare reported strong quarterly earnings of $4.82 per share, topping estimates of $4.21, while revenue rose 2.6% year over year to $5.37 billion.
• Wall Street remains constructive on the stock, with 18 Buy ratings and 4 Hold ratings; the consensus rating is “Moderate Buy” and the average price target is $244.84.

Hsbc Holdings PLC trimmed its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 2.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 260,114 shares of the company's stock after selling 6,286 shares during the quarter. Hsbc Holdings PLC owned 0.30% of Tenet Healthcare worth $48,201,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Triumph Capital Management bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth $25,000. Activest Wealth Management acquired a new position in Tenet Healthcare during the fourth quarter worth about $26,000. Elyxium Wealth LLC bought a new position in shares of Tenet Healthcare in the fourth quarter worth about $29,000. Canada Pension Plan Investment Board bought a new stake in shares of Tenet Healthcare during the 2nd quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. increased its position in Tenet Healthcare by 146.2% during the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company's stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Down 0.2%

NYSE:THC opened at $194.43 on Tuesday. Tenet Healthcare Corporation has a 52 week low of $146.60 and a 52 week high of $247.21. 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 firm's fifty day moving average is $184.41 and its 200-day moving average is $197.41. The firm has a market cap of $16.75 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.61 and a beta of 1.27.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.61. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the business earned $4.36 earnings per share. Tenet Healthcare's revenue for the quarter was up 2.6% on a year-over-year basis. 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 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Stephens decreased their target price on shares of Tenet Healthcare from $275.00 to $260.00 and set an "overweight" rating on the stock in a research note on Monday, May 4th. Royal Bank Of Canada cut their price objective on Tenet Healthcare from $277.00 to $236.00 and set an "outperform" rating on the stock in a report on Friday, May 1st. TD Cowen lowered 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. Guggenheim cut their price target on Tenet Healthcare from $252.00 to $242.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Wells Fargo & Company boosted their price target on Tenet Healthcare from $213.00 to $231.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $244.84.

Insider Transactions at Tenet Healthcare

In related news, Director Nadja West sold 3,000 shares of the company's stock in a transaction dated 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 owned 24,805 shares in the company, valued at $4,399,166.75. This represents a 10.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Robert Kerrey sold 5,638 shares of Tenet Healthcare 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 sale, the director owned 16,804 shares of the company's stock, valued at approximately $2,932,634.08. The trade was a 25.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.97% of the stock is owned by insiders.

Tenet Healthcare 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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