Public Employees Retirement Association of Colorado Grows Stake in Tenet Healthcare Corporation $THC

Key Points

• Public Employees Retirement Association of Colorado boosted its Tenet Healthcare stake by 957.7% in the fourth quarter, ending with 96,913 shares worth about $19.3 million.
• Several other institutional investors also increased holdings, and 95.44% of Tenet Healthcare’s stock is owned by hedge funds and other institutions.
• Tenet reported better-than-expected quarterly earnings of $4.82 per share, while analysts remain mostly bullish with an average rating of “Moderate Buy” and a consensus price target of $244.16.

Public Employees Retirement Association of Colorado grew its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 957.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,913 shares of the company's stock after purchasing an additional 87,750 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.11% of Tenet Healthcare worth $19,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caption Management LLC bought a new position in shares of Tenet Healthcare during the 3rd quarter valued at about $5,650,000. Eminence Capital LP purchased a new stake in Tenet Healthcare in the third quarter worth approximately $225,263,000. Hillsdale Investment Management Inc. raised its stake in shares of Tenet Healthcare by 31.0% during the third quarter. Hillsdale Investment Management Inc. now owns 22,800 shares of the company's stock worth $4,629,000 after acquiring an additional 5,400 shares in the last quarter. Sirios Capital Management L P raised its stake in shares of Tenet Healthcare by 100.9% during the third quarter. Sirios Capital Management L P now owns 71,566 shares of the company's stock worth $14,531,000 after acquiring an additional 35,947 shares in the last quarter. Finally, Algert Global LLC raised its stake in shares of Tenet Healthcare by 21.8% during the third quarter. Algert Global LLC now owns 50,379 shares of the company's stock worth $10,229,000 after acquiring an additional 9,000 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Tenet Healthcare Stock Performance

Shares of NYSE:THC opened at $179.08 on Tuesday. The company has a market cap of $15.43 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 1.44 and a beta of 1.28. The company has a 50-day moving average price of $183.76 and a 200-day moving average price of $199.56. 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.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.21 by $0.61. The firm had revenue of $5.37 billion during 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 prior year, the firm posted $4.36 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, equities analysts anticipate that Tenet Healthcare Corporation will post 17.61 EPS for the current year.

Wall Street Analyst Weigh In

THC has been the subject of several recent research reports. Guggenheim lowered their price target on shares of Tenet Healthcare from $283.00 to $252.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Leerink Partners boosted their price target on shares of Tenet Healthcare from $255.00 to $264.00 and gave the stock an "outperform" rating in a research note on Friday, February 20th. Morgan Stanley set a $254.00 price target on shares of Tenet Healthcare in a research note on Friday, May 1st. Truist Financial boosted their price target 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. Finally, Robert W. Baird lowered their price target on shares of Tenet Healthcare from $245.00 to $210.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. 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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