Private Management Group Inc. Lowers Position in Tenet Healthcare Corporation $THC

Key Points

• Private Management Group Inc. cut its Tenet Healthcare stake by 9.5% in the fourth quarter, selling 6,520 shares and leaving it with 62,087 shares valued at about $12.3 million.
• Tenet Healthcare reported strong quarterly earnings, posting EPS of $4.82 versus the $4.21 consensus, while revenue came in at $5.37 billion, slightly below estimates.
• Despite recent insider selling and mixed analyst target changes, Wall Street remains generally positive on the stock, with 18 Buy ratings, 4 Hold ratings, and an average price target of $244.16.

Private Management Group Inc. trimmed its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 9.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 62,087 shares of the company's stock after selling 6,520 shares during the period. Private Management Group Inc. owned approximately 0.07% of Tenet Healthcare worth $12,338,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new position in Tenet Healthcare in the 3rd quarter worth approximately $25,000. Activest Wealth Management bought a new stake in Tenet Healthcare in the 4th quarter worth approximately $26,000. Elyxium Wealth LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at $29,000. Meeder Asset Management Inc. grew its position in shares of Tenet Healthcare by 146.2% during the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company's stock valued at $38,000 after acquiring an additional 114 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Tenet Healthcare during the 2nd quarter valued at $35,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $173.54 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.36 and a quick ratio of 1.30. Tenet Healthcare Corporation has a 1-year low of $146.60 and a 1-year high of $247.21. The firm has a market capitalization of $14.95 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28. The company's 50-day moving average is $184.25 and its 200 day moving average is $200.12.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its 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. 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 revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. Research analysts forecast that Tenet Healthcare Corporation will post 17.61 EPS for the current year.

Insider Transactions at Tenet Healthcare

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

Analysts Set New Price Targets

THC has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of Tenet Healthcare from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Tenet Healthcare in a report on Wednesday, March 4th. UBS Group upped their target price on shares of Tenet Healthcare from $260.00 to $288.00 and gave the stock a "buy" rating in a report on Thursday, February 12th. Barclays dropped their target price on shares of Tenet Healthcare from $257.00 to $238.00 and set an "overweight" rating for the company in a report on Tuesday, May 5th. Finally, Robert W. Baird dropped their target price on shares of Tenet Healthcare from $245.00 to $210.00 and set a "neutral" rating for the company in a report on Tuesday, May 5th. Eighteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $244.16.

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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