Royal Bank of Canada Sells 10,695 Shares of Tenet Healthcare Corporation $THC

Key Points

• Royal Bank of Canada reduced its Tenet Healthcare stake by 15.6% in the first quarter, selling 10,695 shares and retaining 57,685 shares valued at approximately $10.9 million. Institutional investors collectively own 95.44% of THC.
• Analysts remain broadly positive, with 17 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $271. Several firms recently raised their targets, including UBS to $308.
• Tenet reported strong quarterly results, posting $6.12 EPS versus the $4.26 consensus and $6.04 billion in revenue, up 6.8% year over year. However, company insiders have sold 33,953 shares worth about $7.84 million over the past three months.

Royal Bank of Canada lessened its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,685 shares of the company's stock after selling 10,695 shares during the period. Royal Bank of Canada owned about 0.07% of Tenet Healthcare worth $10,886,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in THC. Empowered Funds LLC boosted its stake in shares of Tenet Healthcare by 22.1% during the first quarter. Empowered Funds LLC now owns 284,753 shares of the company's stock valued at $53,736,000 after purchasing an additional 51,549 shares in the last quarter. Eversept Partners LP acquired a new position in Tenet Healthcare during the 1st quarter worth about $5,569,000. Quantinno Capital Management LP raised its position in shares of Tenet Healthcare by 17.1% during the first quarter. Quantinno Capital Management LP now owns 121,243 shares of the company's stock worth $22,880,000 after acquiring an additional 17,705 shares during the last quarter. Waverly Advisors LLC increased its position in Tenet Healthcare by 13.8% during the 1st quarter. Waverly Advisors LLC now owns 4,125 shares of the company's stock valued at $778,000 after purchasing an additional 499 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Tenet Healthcare by 535.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 127,677 shares of the company's stock worth $24,094,000 after buying an additional 107,600 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on THC. UBS Group boosted their target price on shares of Tenet Healthcare from $288.00 to $308.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Truist Financial lifted their price target on Tenet Healthcare from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. The Goldman Sachs Group reissued a "buy" rating and issued a $305.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, July 28th. Barclays lifted their target price on Tenet Healthcare from $240.00 to $271.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. Finally, TD Cowen increased their price target on Tenet Healthcare from $233.00 to $263.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $271.00.

Insider Activity

In other news, EVP Paola M. Arbour sold 10,878 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $243.90, for a total transaction of $2,653,144.20. Following the completion of the transaction, the executive vice president owned 18,413 shares in the company, valued at approximately $4,490,930.70. This represents a 37.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 value of $532,050.00. Following the completion of the sale, the director owned 24,805 shares in the company, valued at $4,399,166.75. This represents a 10.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 33,953 shares of company stock worth $7,841,125. 0.97% of the stock is owned by company insiders.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $262.75 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41. The firm has a market cap of $21.16 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 1.00 and a beta of 1.23. Tenet Healthcare Corporation has a 52 week low of $157.58 and a 52 week high of $265.32. The firm's 50-day simple moving average is $200.19 and its two-hundred day simple moving average is $201.39.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The company had revenue of $6.04 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the business posted $4.02 EPS. Tenet Healthcare's quarterly revenue was up 6.8% compared to the same quarter last year. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. As a group, equities analysts forecast that Tenet Healthcare Corporation will post 21.09 earnings per share 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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