VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Tenet Healthcare Corporation $THC

Key Points

• Virginia Retirement Systems initiated a position in Tenet Healthcare, purchasing 29,421 shares valued at approximately $5.5 million. Institutional investors collectively own 95.44% of the company.
• Analysts remain broadly bullish on Tenet, with a consensus “Buy” rating and an average price target of $273; several firms recently raised or set targets between $283 and $305.
• Tenet reported quarterly earnings of $6.12 per share, exceeding estimates of $4.26, while revenue rose 6.8% year over year to $6.04 billion. However, company insiders sold more than 109,000 shares worth $29.3 million over the past three months.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,421 shares of the company's stock, valued at approximately $5,504,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System increased its stake in shares of Tenet Healthcare by 18,362.2% in the 2nd quarter. California State Teachers Retirement System now owns 18,885,726 shares of the company's stock valued at $3,533,142,000 after acquiring an additional 18,783,432 shares in the last quarter. Norges Bank acquired a new stake in Tenet Healthcare in the fourth quarter worth $248,494,000. Wellington Management Group LLP increased its stake in Tenet Healthcare by 1,114.2% in the fourth quarter. Wellington Management Group LLP now owns 1,135,801 shares of the company's stock valued at $225,706,000 after purchasing an additional 1,042,260 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Tenet Healthcare during the 2nd quarter worth about $168,761,000. Finally, Boston Partners grew its stake in shares of Tenet Healthcare by 38.8% in the 3rd quarter. Boston Partners now owns 3,147,555 shares of the company's stock valued at $638,958,000 after buying an additional 880,413 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Insider Activity

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,837 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $243.44, for a total transaction of $934,079.28. Following the sale, the director owned 9,568 shares of the company's stock, valued at $2,329,233.92. The trade was a 28.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Saumya Sutaria sold 50,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 483,564 shares of the company's stock, valued at $134,774,122.44. The trade was a 9.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 109,189 shares of company stock worth $29,264,109. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on THC shares. Wall Street Zen upgraded Tenet Healthcare from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 23rd. Guggenheim upped their price objective on shares of Tenet Healthcare from $242.00 to $283.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Raymond James Financial reaffirmed an "outperform" rating and issued a $285.00 price objective on shares of Tenet Healthcare in a research note on Friday, August 14th. The Goldman Sachs Group restated a "buy" rating and issued a $305.00 target price on shares of Tenet Healthcare in a report on Tuesday, July 28th. Finally, Mizuho set a $290.00 price target on Tenet Healthcare in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $273.00.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $259.37 on Wednesday. The firm has a market capitalization of $20.88 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.23. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.00. The business's fifty day simple moving average is $241.08 and its 200 day simple moving average is $211.50. Tenet Healthcare Corporation has a 12 month low of $157.58 and a 12 month high of $283.05.

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, topping the consensus estimate of $4.26 by $1.86. The business had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.43 billion. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.02 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. As a group, analysts anticipate that Tenet Healthcare Corporation will post 21.04 EPS for the current year.

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.

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.