Tenet Healthcare Corporation $THC Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its Tenet Healthcare stake by 10.3% in the fourth quarter, selling 74,030 shares and ending with 646,397 shares valued at about $128.5 million.
• Tenet reported better-than-expected quarterly earnings of $4.82 per share, topping estimates, while revenue came in at $5.37 billion and rose 2.6% year over year.
• Analyst sentiment remains generally positive, with 18 Buy ratings and four Hold ratings, though price targets have recently been mixed and the consensus target is $244.16.

Bank of New York Mellon Corp reduced its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 10.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 646,397 shares of the company's stock after selling 74,030 shares during the quarter. Bank of New York Mellon Corp owned about 0.74% of Tenet Healthcare worth $128,452,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of THC. NewEdge Advisors LLC increased its stake in Tenet Healthcare by 6.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,890 shares of the company's stock valued at $389,000 after buying an additional 166 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Tenet Healthcare by 299.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company's stock worth $229,000 after purchasing an additional 1,274 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Tenet Healthcare during the 2nd quarter worth $290,000. Quantbot Technologies LP acquired a new position in shares of Tenet Healthcare during the 2nd quarter worth $65,000. Finally, Amundi grew its stake in shares of Tenet Healthcare by 4,207.8% during the 2nd quarter. Amundi now owns 27,010 shares of the company's stock worth $4,652,000 after purchasing an additional 26,383 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on THC shares. Morgan Stanley set a $254.00 price objective on Tenet Healthcare in a report on Friday, May 1st. Guggenheim reduced their price objective on Tenet Healthcare from $283.00 to $252.00 and set a "buy" rating for the company in a report on Friday, May 1st. Robert W. Baird lowered their price objective on shares of Tenet Healthcare from $245.00 to $210.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 5th. UBS Group increased their price objective on shares of Tenet Healthcare from $260.00 to $288.00 and gave the company a "buy" rating in a research note on Thursday, February 12th. 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 on the stock in a research note on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.16.

Tenet Healthcare Trading Up 0.5%

Shares of THC stock opened at $162.20 on Friday. The firm has a market cap of $13.97 billion, a P/E ratio of 8.43, a PEG ratio of 1.33 and a beta of 1.28. Tenet Healthcare Corporation has a 1-year low of $146.60 and a 1-year high of $247.21. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.36 and a quick ratio of 1.30. The firm's 50-day simple moving average is $186.17 and its 200-day simple moving average is $200.75.

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 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 business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the firm posted $4.36 EPS. The company's revenue was up 2.6% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, equities analysts forecast that Tenet Healthcare Corporation will post 17.61 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 5,638 shares of the firm's stock in a transaction on 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 sale, the director directly owned 16,804 shares of the company's stock, valued at approximately $2,932,634.08. This trade represents a 25.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas W. Arnst sold 8,000 shares of the firm's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $238.85, for a total transaction of $1,910,800.00. Following the sale, the executive vice president directly owned 12 shares of the company's stock, valued at approximately $2,866.20. The trade was a 99.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 23,138 shares of company stock worth $4,976,589. 0.97% of the stock is currently owned by corporate insiders.

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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