Legal & General Group Plc Sells 9,436 Shares of Tenet Healthcare Corporation $THC

Key Points

• Legal & General Group Plc trimmed its Tenet Healthcare stake by 6.1% in the fourth quarter, selling 9,436 shares and ending with 145,220 shares valued at about $28.9 million.
• Insider selling has also been notable, with executives and directors selling shares in recent months; total insider sales reached 55,155 shares worth $12.46 million over the last 90 days.
• Tenet Healthcare posted better-than-expected quarterly earnings, reporting $4.82 EPS versus the $4.21 estimate, while analysts remain broadly positive with a consensus rating of Moderate Buy and a target price of $244.16.

Legal & General Group Plc decreased its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,220 shares of the company's stock after selling 9,436 shares during the quarter. Legal & General Group Plc owned approximately 0.17% of Tenet Healthcare worth $28,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in THC. NewEdge Advisors LLC grew its position in shares of 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 buying an additional 166 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Tenet Healthcare by 299.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company's stock worth $229,000 after buying an additional 1,274 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Tenet Healthcare during the 2nd quarter worth $290,000. Quantbot Technologies LP bought a new position in shares of Tenet Healthcare during the 2nd quarter worth $65,000. Finally, Amundi grew its position in shares of 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 in the last quarter. Institutional investors own 95.44% of the company's stock.

Insider Buying and Selling

In other news, EVP Paola M. Arbour sold 6,500 shares of the firm's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $238.43, for a total value of $1,549,795.00. Following the completion of the transaction, the executive vice president directly owned 29,291 shares in the company, valued at $6,983,853.13. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nadja West sold 3,000 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $177.35, for a total value of $532,050.00. Following the completion of the transaction, the director owned 24,805 shares of the company's stock, valued at approximately $4,399,166.75. The trade was a 10.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,155 shares of company stock valued at $12,459,105 in the last 90 days. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on THC shares. Leerink Partners upped their price objective on Tenet Healthcare from $255.00 to $264.00 and gave the stock an "outperform" rating in a research note on Friday, February 20th. Weiss Ratings restated a "buy (b-)" rating on shares of Tenet Healthcare in a research note on Friday, March 27th. KeyCorp decreased their price objective on Tenet Healthcare from $250.00 to $225.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. Guggenheim decreased their price objective on Tenet Healthcare from $283.00 to $252.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Finally, Mizuho upped their price objective on Tenet Healthcare from $235.00 to $265.00 and gave the stock an "outperform" rating in a research note on Thursday, March 12th. Nineteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.16.

Tenet Healthcare Trading Up 0.9%

Tenet Healthcare stock opened at $174.83 on Friday. The stock has a 50-day moving average of $189.94 and a two-hundred day moving average of $201.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.30 and a current ratio of 1.36. Tenet Healthcare Corporation has a one year low of $146.60 and a one year high of $247.21. The stock has a market cap of $15.06 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $4.82 EPS for the quarter, beating analysts' consensus estimates of $4.21 by $0.61. Tenet Healthcare had a return on equity of 25.55% and a net margin of 7.94%.The company had revenue of $5.37 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same period last year, the business posted $4.36 earnings per share. The firm's revenue was up 2.6% compared to the same quarter last year. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, research analysts anticipate that Tenet Healthcare Corporation will post 17.67 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding THC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenet Healthcare Corporation (NYSE:THC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.