Tenet Healthcare Corporation $THC Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management cut its Tenet Healthcare stake by 91.2% in the second quarter, selling 2,137,500 shares and retaining 207,419 shares valued at approximately $38.8 million.
• Analyst sentiment remains positive, with one Strong Buy, 19 Buy, and one Hold rating; the consensus price target is $273, with targets ranging as high as $308.
• Tenet reported quarterly EPS of $6.12, beating estimates of $4.26, while revenue rose 6.8% year over year to $6.04 billion. Shares opened at $265.28, near their 12-month high of $283.05.

Wellington Management Group LLP reduced its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 91.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 207,419 shares of the company's stock after selling 2,137,500 shares during the quarter. Wellington Management Group LLP owned 0.26% of Tenet Healthcare worth $38,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Triumph Capital Management acquired a new stake in Tenet Healthcare in the third quarter valued at $25,000. Elyxium Wealth LLC purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $29,000. Canada Pension Plan Investment Board acquired a new stake in shares of Tenet Healthcare in the second quarter valued at approximately $35,000. Trust Co. of Vermont acquired a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $37,000. Finally, Meeder Asset Management Inc. lifted its stake in Tenet Healthcare by 146.2% in the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company's stock valued at $38,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on THC. Wells Fargo & Company boosted their price target on Tenet Healthcare from $231.00 to $281.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Guggenheim boosted their target price on shares of Tenet Healthcare from $242.00 to $283.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Raymond James Financial reaffirmed an "outperform" rating and set a $285.00 price target on shares of Tenet Healthcare in a research note on Friday, August 14th. Stephens reaffirmed an "overweight" rating and issued a $285.00 target price on shares of Tenet Healthcare in a research note on Monday, July 27th. Finally, Piper Sandler set a $308.00 price target on Tenet Healthcare in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Tenet Healthcare presently has an average rating of "Buy" and a consensus target price of $273.00.

Tenet Healthcare Stock Up 0.7%

Shares of Tenet Healthcare stock opened at $265.28 on Friday. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23. The company has a fifty day moving average price of $238.07 and a 200 day moving average price of $211.23. Tenet Healthcare Corporation has a twelve month low of $157.58 and a twelve month high of $283.05. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00.

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

Insider Activity

In other news, Director Cecil D. Haney sold 1,300 shares of the business's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $278.03, for a total transaction of $361,439.00. Following the sale, the director directly owned 12,553 shares of the company's stock, valued at $3,490,110.59. The trade was a 9.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saumya Sutaria sold 50,000 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $278.71, for a total value of $13,935,500.00. Following the sale, the chief executive officer owned 483,564 shares in the company, valued at approximately $134,774,122.44. The trade was a 9.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 109,189 shares of company stock worth $29,264,109 over the last ninety days. 0.97% of the stock is currently owned by company insiders.

About Tenet Healthcare

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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