Private Advisor Group LLC Cuts Position in Tenet Healthcare Corporation $THC

Key Points

• Private Advisor Group LLC cut its Tenet Healthcare position by 78.7% in the first quarter, leaving it with 1,512 shares worth about $285,000.
• Several other institutional investors adjusted their holdings, and 95.44% of Tenet Healthcare stock is still owned by institutions. Insider selling also stood out, with directors J Robert Kerrey and Nadja West both reducing their stakes in late May.
• Analysts remain generally positive on the stock: Tenet has an average rating of “Moderate Buy” with an average price target of $245.37. The company also beat quarterly EPS estimates, reporting $4.82 per share versus expectations of $4.21.

Private Advisor Group LLC decreased its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 78.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,512 shares of the company's stock after selling 5,598 shares during the period. Private Advisor Group LLC's holdings in Tenet Healthcare were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd boosted its stake in Tenet Healthcare by 174.5% in the first quarter. Y Intercept Hong Kong Ltd now owns 63,397 shares of the company's stock worth $11,964,000 after buying an additional 40,299 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $497,000. Root Financial Partners LLC boosted its stake in shares of Tenet Healthcare by 146.4% in the 1st quarter. Root Financial Partners LLC now owns 658 shares of the company's stock valued at $124,000 after purchasing an additional 391 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of Tenet Healthcare by 7.8% during the 1st quarter. Fulton Bank N.A. now owns 1,945 shares of the company's stock valued at $367,000 after purchasing an additional 140 shares during the last quarter. Finally, Brown Miller Wealth Management LLC lifted its stake in Tenet Healthcare by 8.1% in the first quarter. Brown Miller Wealth Management LLC now owns 1,932 shares of the company's stock worth $365,000 after purchasing an additional 145 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Insider Activity at Tenet Healthcare

In related news, Director J Robert Kerrey sold 5,638 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total transaction of $983,943.76. Following the sale, the director directly owned 16,804 shares in the company, valued at $2,932,634.08. The trade was a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nadja West sold 3,000 shares of the company's stock in a transaction on 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 sale, the director directly owned 24,805 shares in the company, valued at approximately $4,399,166.75. The trade was a 10.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

THC has been the topic of a number of recent research reports. Barclays raised their price objective on Tenet Healthcare from $238.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, July 8th. Morgan Stanley set a $254.00 price target on Tenet Healthcare in a research report on Friday, May 1st. Guggenheim decreased their price target on Tenet Healthcare from $283.00 to $252.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Royal Bank Of Canada dropped their price objective on Tenet Healthcare from $277.00 to $236.00 and set an "outperform" rating for the company in a research note on Friday, May 1st. 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. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $245.37.

Tenet Healthcare Stock Down 2.2%

Shares of Tenet Healthcare stock opened at $194.89 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. Tenet Healthcare Corporation has a 12-month low of $146.60 and a 12-month high of $247.21. The company has a market cap of $16.79 billion, a P/E ratio of 10.13, a PEG ratio of 1.61 and a beta of 1.27. The company's fifty day simple moving average is $184.35 and its two-hundred day simple moving average is $197.48.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.21 by $0.61. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The firm had revenue of $5.37 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same period last year, the company posted $4.36 EPS. The company's quarterly 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. Research analysts anticipate that Tenet Healthcare Corporation will post 17.5 EPS for the current 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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