Kentucky Retirement Systems Makes New Investment in Tenet Healthcare Corporation $THC

Key Points

• Kentucky Retirement Systems purchased 8,192 Tenet Healthcare shares worth approximately $1.55 million, while institutional investors collectively own 95.44% of the company.
• Tenet insiders sold 33,353 shares valued at $7.68 million over the past 90 days. Despite the selling, analysts maintain a “Moderate Buy” consensus, with an average price target of $268.50.
• Tenet reported quarterly earnings of $6.12 per share, beating estimates of $4.26, while revenue rose 6.8% year over year to $6.04 billion.

Kentucky Retirement Systems bought a new stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,192 shares of the company's stock, valued at approximately $1,546,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Triumph Capital Management bought a new stake in Tenet Healthcare in the third quarter worth about $25,000. Activest Wealth Management bought a new position in shares of Tenet Healthcare during the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter worth approximately $29,000. Meeder Asset Management Inc. lifted its stake in shares of 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 acquiring an additional 114 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Tenet Healthcare in the 2nd quarter valued at $35,000. 95.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Lisa Y. Foo sold 10,000 shares of the firm's stock in a transaction dated Wednesday, July 29th. The shares were 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 of the company's stock, valued at approximately $8,270,635.59. This trade represents a 23.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Paola M. Arbour sold 10,878 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $243.90, for a total transaction of $2,653,144.20. Following the completion of the transaction, the executive vice president directly owned 18,413 shares in the company, valued at $4,490,930.70. This trade represents a 37.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,353 shares of company stock valued at $7,683,517 in the last 90 days. Corporate insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. TD Cowen lifted their target price on Tenet Healthcare from $233.00 to $263.00 and gave the stock a "buy" rating in a research report on Monday. Truist Financial raised their price target on shares of Tenet Healthcare from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Tuesday. Robert W. Baird boosted their price objective on shares of Tenet Healthcare from $210.00 to $280.00 and gave the company a "neutral" rating in a research report on Tuesday. Stephens restated an "overweight" rating and issued a $285.00 target price on shares of Tenet Healthcare in a research note on Monday. Finally, Weiss Ratings downgraded shares of Tenet Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 2nd. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $268.50.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $254.88 on Friday. Tenet Healthcare Corporation has a 12-month low of $156.71 and a 12-month high of $262.68. The business's fifty day simple moving average is $192.10 and its 200-day simple moving average is $199.35. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00. The company has a market cap of $21.96 billion, a PE ratio of 9.83, a PEG ratio of 0.96 and a beta of 1.27.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 EPS for the quarter, topping analysts' consensus estimates of $4.26 by $1.86. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The company had revenue of $6.04 billion during the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter in the previous year, the firm posted $4.02 EPS. The firm's 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. Analysts expect that Tenet Healthcare Corporation will post 21.09 earnings per share for the current fiscal year.

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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