Louisiana State Employees Retirement System Acquires Shares of 25,500 Tenet Healthcare Corporation $THC

Key Points

• Louisiana State Employees Retirement System disclosed a new stake in Tenet Healthcare, buying 25,500 shares valued at about $4.81 million in the first quarter.
• Institutional ownership remains very high, with 95.44% of Tenet Healthcare’s stock held by institutions; several major funds also recently boosted or initiated positions.
• Analyst sentiment is mostly positive: Tenet has 18 Buy ratings versus 4 Holds, with an average Moderate Buy rating and a consensus price target of $244.32, though some firms recently trimmed targets or downgraded the stock.

Louisiana State Employees Retirement System purchased a new stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,500 shares of the company's stock, valued at approximately $4,812,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Tenet Healthcare in the 4th quarter worth $248,494,000. Eminence Capital LP purchased a new stake in shares of Tenet Healthcare during the third quarter valued at $225,263,000. Wellington Management Group LLP increased its holdings in Tenet Healthcare by 1,114.2% in the 4th quarter. Wellington Management Group LLP now owns 1,135,801 shares of the company's stock worth $225,706,000 after buying an additional 1,042,260 shares in the last quarter. Boston Partners raised its position in Tenet Healthcare by 38.8% in the 3rd quarter. Boston Partners now owns 3,147,555 shares of the company's stock worth $638,958,000 after buying an additional 880,413 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Tenet Healthcare by 62.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company's stock valued at $380,989,000 after acquiring an additional 720,160 shares during the period. Institutional investors own 95.44% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on THC. Mizuho lifted their price target on shares of Tenet Healthcare from $235.00 to $265.00 and gave the stock an "outperform" rating in a research note on Thursday, March 12th. Weiss Ratings cut shares of Tenet Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 2nd. Stephens decreased their target price on shares of Tenet Healthcare from $275.00 to $260.00 and set an "overweight" rating for the company in a research note on Monday, May 4th. Morgan Stanley set a $254.00 price target on Tenet Healthcare in a report on Friday, May 1st. Finally, Wells Fargo & Company reduced their price objective on Tenet Healthcare from $265.00 to $213.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $244.32.

Tenet Healthcare Stock Performance

NYSE THC opened at $187.64 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.36 and a debt-to-equity ratio of 1.96. Tenet Healthcare Corporation has a twelve month low of $146.60 and a twelve month high of $247.21. The business has a 50-day moving average price of $181.14 and a 200-day moving average price of $197.51. The firm has a market cap of $16.16 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $4.82 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $5.39 billion. During the same period in the previous year, the firm earned $4.36 EPS. 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. As a group, equities research analysts predict that Tenet Healthcare Corporation will post 17.61 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Nadja West sold 3,000 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total transaction of $532,050.00. Following the completion of the transaction, the director owned 24,805 shares in the company, valued at approximately $4,399,166.75. This represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Robert Kerrey sold 5,638 shares of the firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $174.52, for a total transaction of $983,943.76. Following the transaction, the director directly owned 16,804 shares of the company's stock, valued at $2,932,634.08. The trade was a 25.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.97% of the stock is currently owned by corporate insiders.

About Tenet Healthcare

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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