Tenet Healthcare Corporation $THC Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments reduced its Tenet Healthcare stake by 15.9% in the first quarter, selling 54,591 shares and leaving it with 289,797 shares valued at about $55.1 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding 95.44% of the stock; several firms added large positions, including Norges Bank and Wellington Management.
• Tenet Healthcare’s latest earnings beat expectations, reporting $4.82 EPS versus $4.21 expected, while analysts still generally rate the stock a Moderate Buy with an average target price of $245.37.

Allspring Global Investments Holdings LLC lessened its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 289,797 shares of the company's stock after selling 54,591 shares during the period. Allspring Global Investments Holdings LLC owned 0.34% of Tenet Healthcare worth $55,140,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $248,494,000. Wellington Management Group LLP boosted its holdings in Tenet Healthcare by 1,114.2% in the 4th quarter. Wellington Management Group LLP now owns 1,135,801 shares of the company's stock valued at $225,706,000 after purchasing an additional 1,042,260 shares during the last quarter. Boston Partners grew its stake in shares of Tenet Healthcare by 38.8% in the 3rd quarter. Boston Partners now owns 3,147,555 shares of the company's stock valued at $638,958,000 after buying an additional 880,413 shares during the period. AQR Capital Management LLC raised its position in shares of Tenet Healthcare by 62.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company's stock valued at $380,989,000 after buying an additional 720,160 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Tenet Healthcare by 375.7% in the second quarter. Alliancebernstein L.P. now owns 790,254 shares of the company's stock valued at $139,085,000 after acquiring an additional 624,125 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on THC shares. Robert W. Baird decreased their price target on Tenet Healthcare from $245.00 to $210.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 5th. Wells Fargo & Company boosted their price objective on shares of Tenet Healthcare from $213.00 to $231.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Guggenheim lowered their target price 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. Barclays boosted their price target on shares of Tenet Healthcare from $238.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada lowered their price objective on shares of Tenet Healthcare from $277.00 to $236.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $245.37.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,638 shares of the company's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $174.52, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at 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 directly owned 24,805 shares of the company's stock, valued at $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. 0.97% of the stock is owned by company insiders.

Tenet Healthcare Trading Down 2.2%

THC opened at $194.89 on Friday. The business has a fifty day moving average price of $184.35 and a 200 day moving average price of $197.48. 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 12 month low of $146.60 and a 12 month high of $247.21. The stock has a market capitalization of $16.79 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 1.61 and a beta of 1.27.

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

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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