Tenet Healthcare Corporation $THC Shares Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. cut its Tenet Healthcare holdings by 58.7% in the third quarter, leaving it with 3,224 shares worth approximately $824,000. Institutional investors still own 95.44% of the company.
• Tenet insiders sold 131,199 shares worth roughly $35.1 million over the past three months, including significant sales by CEO Saumya Sutaria and EVP Lisa Foo.
• Wall Street remains broadly positive, with 18 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $278.45. The company also exceeded quarterly earnings and revenue estimates, reporting $6.12 in EPS and $6.04 billion in revenue.

First Citizens Bank & Trust Co. reduced its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 58.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,224 shares of the company's stock after selling 4,586 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Tenet Healthcare were worth $824,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Manning & Napier Advisors LLC bought a new position in shares of Tenet Healthcare in the second quarter worth $168,761,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Tenet Healthcare by 57.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company's stock valued at $126,757,000 after acquiring an additional 244,901 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Tenet Healthcare in the second quarter valued at approximately $106,342,000. Empowered Funds LLC grew its stake in 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 acquiring an additional 51,549 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Tenet Healthcare by 3,478.7% in the 4th quarter. Hsbc Holdings PLC now owns 266,400 shares of the company's stock worth $53,269,000 after purchasing an additional 258,956 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other news, CEO Saumya Sutaria sold 50,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $278.71, for a total value of $13,935,500.00. Following the completion of the sale, the chief executive officer directly owned 483,564 shares in the company, valued at approximately $134,774,122.44. The trade was a 9.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Foo sold 24,000 shares of the company's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $266.32, for a total transaction of $6,391,680.00. Following the completion of the sale, the executive vice president directly owned 8,053 shares of the company's stock, valued at $2,144,674.96. This trade represents a 74.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 131,199 shares of company stock valued at $35,065,587. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on THC. BMO Capital Markets assumed coverage on shares of Tenet Healthcare in a research report on Tuesday, September 22nd. They set a "market perform" rating and a $265.00 price target for the company. Guggenheim boosted their target price on Tenet Healthcare from $283.00 to $307.00 and gave the stock a "buy" rating in a research report on Friday. Cantor Fitzgerald restated an "overweight" rating on shares of Tenet Healthcare in a research note on Friday, October 2nd. Barclays raised their price target on Tenet Healthcare from $240.00 to $271.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Finally, Robert W. Baird lifted their price target on Tenet Healthcare from $210.00 to $280.00 and gave the company a "neutral" rating in a research report on Tuesday, July 28th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $278.45.

Tenet Healthcare Trading Down 2.9%

Shares of THC stock opened at $267.27 on Friday. The business has a 50-day moving average price of $264.36 and a two-hundred day moving average price of $219.07. Tenet Healthcare Corporation has a 12-month low of $157.58 and a 12-month high of $283.05. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. The firm has a market cap of $21.52 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 1.05 and a beta of 1.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 EPS for the quarter, beating the consensus estimate of $4.26 by $1.86. The firm had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.43 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%. The company's revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.02 EPS. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Equities analysts anticipate that Tenet Healthcare Corporation will post 21.04 EPS for the current fiscal year.

Tenet Healthcare Profile

Tenet Healthcare Corporation is a Dallas-based healthcare services company that operates hospitals, outpatient facilities and other healthcare businesses across the United States. Its operations include acute care hospitals, specialty hospitals, ambulatory surgery centers and related outpatient services.

Through its United Surgical Partners International subsidiary, Tenet is one of the major operators and developers of ambulatory surgery centers in the United States. These facilities provide same-day surgical procedures and other outpatient care across a range of medical specialties.

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