Principal Financial Group Inc. Sells 7,237 Shares of Tenet Healthcare Corporation $THC

Key Points

• Principal Financial Group reduced its Tenet Healthcare stake by 3.7% in the fourth quarter, selling 7,237 shares and ending with 188,965 shares valued at about $37.6 million.
• Tenet Healthcare posted strong quarterly earnings, reporting EPS of $4.82 versus estimates of $4.21, while revenue came in at $5.37 billion, slightly below expectations and up 2.6% from a year earlier.
• Analyst sentiment remains positive, with 19 Buy ratings and 3 Hold ratings; the consensus view is a “Moderate Buy” with an average target price of $244.16, above the stock’s recent price of $190.37.

Principal Financial Group Inc. trimmed its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 188,965 shares of the company's stock after selling 7,237 shares during the quarter. Principal Financial Group Inc. owned 0.22% of Tenet Healthcare worth $37,551,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in THC. NewEdge Advisors LLC lifted its holdings in shares of Tenet Healthcare by 6.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,890 shares of the company's stock worth $389,000 after acquiring an additional 166 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Tenet Healthcare by 299.1% in the first 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 during the period. Sivia Capital Partners LLC purchased a new position in shares of Tenet Healthcare in the second quarter worth $290,000. Quantbot Technologies LP purchased a new position in shares of Tenet Healthcare in the second quarter worth $65,000. Finally, Amundi increased its stake in shares of Tenet Healthcare by 4,207.8% in the second quarter. Amundi now owns 27,010 shares of the company's stock worth $4,652,000 after buying an additional 26,383 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

THC has been the topic of several analyst reports. Truist Financial lifted their target price on shares of Tenet Healthcare from $240.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. KeyCorp decreased their target price on shares of Tenet Healthcare from $250.00 to $225.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. UBS Group lifted their target price on shares of Tenet Healthcare from $260.00 to $288.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Leerink Partners boosted their price objective on shares of Tenet Healthcare from $255.00 to $264.00 and gave the company an "outperform" rating in a research report on Friday, February 20th. Finally, TD Cowen reissued a "buy" rating on shares of Tenet Healthcare in a research report on Thursday, February 12th. Nineteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.16.

Tenet Healthcare Stock Down 1.9%

Shares of Tenet Healthcare stock opened at $190.37 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.30 and a debt-to-equity ratio of 1.96. The company's fifty day simple moving average is $204.80 and its two-hundred day simple moving average is $204.17. The company has a market cap of $16.40 billion, a P/E ratio of 9.90, a PEG ratio of 1.27 and a beta of 1.30. Tenet Healthcare Corporation has a 12-month low of $146.60 and a 12-month high of $247.21.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.21 by $0.61. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.39 billion. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. Research analysts anticipate that Tenet Healthcare Corporation will post 17.56 EPS for the current year.

Insider Transactions at Tenet Healthcare

In other news, EVP Thomas W. Arnst sold 8,000 shares of the company's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $238.85, for a total value of $1,910,800.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Scott Ramsey sold 8,017 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $232.70, for a total transaction of $1,865,555.90. The SEC filing for this sale provides additional information. Insiders have sold 46,517 shares of company stock valued at $10,943,111 in the last three months. 0.81% of the stock is currently owned by company insiders.

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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