Norges Bank Invests $248.49 Million in Tenet Healthcare Corporation $THC

Key Points

• Norges Bank opened a large new position in Tenet Healthcare, buying 1,250,473 shares valued at about $248.5 million and owning 1.42% of the company.
• Tenet Healthcare reported better-than-expected quarterly earnings, posting EPS of $4.82 versus the $4.21 estimate, while revenue rose 2.6% year over year to $5.37 billion.
• Despite strong institutional interest and solid earnings, insiders have been selling shares, including large recent sales by two executive vice presidents, while analysts currently rate the stock a Moderate Buy with a consensus target of $244.16.

Norges Bank bought a new position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,250,473 shares of the company's stock, valued at approximately $248,494,000. Norges Bank owned 1.42% of Tenet Healthcare as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Triumph Capital Management acquired a new stake in shares of Tenet Healthcare during the third quarter worth $25,000. Activest Wealth Management acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth $29,000. Westside Investment Management Inc. raised its position in shares of Tenet Healthcare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 192 shares of the company's stock worth $39,000 after purchasing an additional 96 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Tenet Healthcare during the second quarter worth $35,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Paola M. Arbour sold 6,500 shares of the business's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $238.43, for a total transaction of $1,549,795.00. Following the completion of the transaction, the executive vice president owned 29,291 shares of the company's stock, valued at approximately $6,983,853.13. The trade was a 18.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas W. Arnst sold 8,000 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $238.85, for a total value of $1,910,800.00. Following the transaction, the executive vice president directly owned 12 shares of the company's stock, valued at $2,866.20. This represents a 99.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,138 shares of company stock worth $4,976,589 over the last quarter. 0.97% of the stock is currently owned by company insiders.

Tenet Healthcare Stock Performance

THC opened at $164.28 on Wednesday. The company has a market cap of $14.15 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 1.12 and a beta of 1.28. The stock has a 50-day moving average of $189.23 and a 200-day moving average of $201.72. 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.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Robert W. Baird lowered their price target on Tenet Healthcare from $245.00 to $210.00 and set a "neutral" rating on the stock in a report on Tuesday, May 5th. Guggenheim lowered their price target on Tenet Healthcare from $283.00 to $252.00 and set a "buy" rating on the stock in a report on Friday, May 1st. UBS Group lifted their price target on Tenet Healthcare from $260.00 to $288.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Morgan Stanley set a $254.00 price target on Tenet Healthcare in a report on Friday, May 1st. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Tenet Healthcare in a research note on Wednesday, March 4th. Nineteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $244.16.

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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