Tenet Healthcare Corporation $THC Shares Sold by Explore Capital Management LLC

Key Points

• Explore Capital Management cut its Tenet Healthcare stake by 56.1% in the fourth quarter, selling 28,200 shares and leaving it with 22,100 shares valued at about $4.39 million.
• Tenet Healthcare reported better-than-expected quarterly earnings of $4.82 per share, beating estimates, while revenue rose 2.6% year over year to $5.37 billion.
• Analysts remain largely positive on the stock, with 18 Buy ratings and a consensus price target of $244.16, even as several firms recently trimmed their targets.

Explore Capital Management LLC decreased its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 56.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,100 shares of the company's stock after selling 28,200 shares during the period. Tenet Healthcare makes up approximately 3.6% of Explore Capital Management LLC's holdings, making the stock its 12th largest position. Explore Capital Management LLC's holdings in Tenet Healthcare were worth $4,392,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new position in Tenet Healthcare during the third quarter worth about $25,000. Activest Wealth Management purchased a new position in Tenet Healthcare during the fourth quarter worth about $26,000. Elyxium Wealth LLC purchased a new position in Tenet Healthcare during the fourth quarter worth about $29,000. Canada Pension Plan Investment Board purchased a new position in Tenet Healthcare during the second quarter worth about $35,000. Finally, Westside Investment Management Inc. raised its holdings in Tenet Healthcare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 192 shares of the company's stock worth $39,000 after purchasing an additional 96 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on THC. Robert W. Baird cut their price target 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. Morgan Stanley set a $254.00 target price on shares of Tenet Healthcare in a report on Friday, May 1st. Stephens dropped their target price on shares of Tenet Healthcare from $275.00 to $260.00 and set an "overweight" rating for the company in a report on Monday, May 4th. Truist Financial increased their target price on shares of Tenet Healthcare from $240.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Finally, Wall Street Zen cut shares of Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a report on Monday, May 11th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $244.16.

Tenet Healthcare Trading Down 2.4%

Shares of Tenet Healthcare stock opened at $160.87 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.30 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average of $186.93 and a two-hundred day moving average of $201.02. Tenet Healthcare Corporation has a 12-month low of $146.60 and a 12-month high of $247.21. The stock has a market cap of $13.86 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 1.08 and a beta of 1.28.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.39 billion. During the same period last year, the company 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. On average, research analysts anticipate that Tenet Healthcare Corporation will post 17.67 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $238.43, for a total transaction of $1,549,795.00. Following the completion of the transaction, the executive vice president directly owned 29,291 shares of the company's stock, valued at $6,983,853.13. This trade represents a 18.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J Robert Kerrey sold 5,638 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total transaction of $983,943.76. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 23,138 shares of company stock valued at $4,976,589. Company insiders own 0.97% of the company's stock.

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.

Want to see what other hedge funds are holding THC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenet Healthcare Corporation (NYSE:THC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.