Tenet Healthcare Corporation $THC Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management trimmed its Tenet Healthcare stake by 18% in the fourth quarter, selling 41,100 shares and leaving it with 187,800 shares valued at about $37.3 million.
• Tenet Healthcare beat earnings expectations in its latest quarterly report, posting $4.82 EPS versus $4.21 expected, while revenue came in slightly below estimates at $5.37 billion.
• Wall Street remains constructive on THC despite recent price-target cuts, with 19 analysts rating it a Buy and the consensus target price sitting at $244.16.

LSV Asset Management lowered its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 187,800 shares of the company's stock after selling 41,100 shares during the period. LSV Asset Management owned about 0.21% of Tenet Healthcare worth $37,320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of THC. NewEdge Advisors LLC increased its stake in shares of Tenet Healthcare by 6.1% during the first quarter. NewEdge Advisors LLC now owns 2,890 shares of the company's stock worth $389,000 after purchasing an additional 166 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Tenet Healthcare by 299.1% during the first 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 in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Tenet Healthcare during the second quarter worth about $290,000. Quantbot Technologies LP purchased a new stake in shares of Tenet Healthcare during the second quarter worth about $65,000. Finally, Amundi increased its stake in shares of Tenet Healthcare by 4,207.8% during the second quarter. Amundi now owns 27,010 shares of the company's stock worth $4,652,000 after purchasing an additional 26,383 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Up 0.1%

Shares of NYSE THC opened at $174.00 on Monday. 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 $14.99 billion, a PE ratio of 9.05, a P/E/G ratio of 1.14 and a beta of 1.30. 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 $194.07 and a 200 day moving average of $202.90.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $5.39 billion. During the same quarter in the prior year, the company posted $4.36 EPS. The business's revenue for the quarter 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, sell-side analysts predict that Tenet Healthcare Corporation will post 17.67 EPS for the current fiscal year.

Insider Activity

In other news, insider R. Scott Ramsey sold 8,017 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $232.70, for a total value of $1,865,555.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paola M. Arbour sold 6,500 shares of the 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 sale, the executive vice president directly owned 29,291 shares of the company's stock, valued at approximately $6,983,853.13. This trade represents a 18.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 46,517 shares of company stock valued at $10,943,111 in the last 90 days. Company insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

THC has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Tenet Healthcare from $240.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Wall Street Zen cut shares of Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 11th. KeyCorp dropped their price objective on shares of Tenet Healthcare from $250.00 to $225.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. Guggenheim dropped their price objective 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. Finally, Royal Bank Of Canada dropped 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 note on Friday, May 1st. Nineteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of "Moderate Buy" and a consensus target price of $244.16.

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.