WCM Investment Management LLC Lowers Stake in Tenet Healthcare Corporation $THC

Key Points

• WCM Investment Management cut its Tenet Healthcare stake by 76.4% in the first quarter, selling 306,239 shares and leaving it with 94,729 shares worth about $17.8 million.
• Several other institutional investors have been active in THC, and 95.44% of the stock is now held by hedge funds and other institutions, underscoring strong Wall Street ownership.
• Tenet’s latest quarter showed EPS of $4.82, beating estimates, while analysts remain mostly bullish with a Moderate Buy consensus and an average target price of $245.37.

WCM Investment Management LLC lowered its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 76.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,729 shares of the company's stock after selling 306,239 shares during the period. WCM Investment Management LLC owned approximately 0.11% of Tenet Healthcare worth $17,809,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in THC. Norges Bank bought a new position in Tenet Healthcare during the 4th quarter valued at approximately $248,494,000. Wellington Management Group LLP boosted its holdings 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 worth $225,706,000 after acquiring an additional 1,042,260 shares in the last quarter. Boston Partners grew its stake in shares of Tenet Healthcare by 38.8% in the third quarter. Boston Partners now owns 3,147,555 shares of the company's stock worth $638,958,000 after acquiring an additional 880,413 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Tenet Healthcare by 62.3% during the third quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company's stock valued at $380,989,000 after acquiring an additional 720,160 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Tenet Healthcare by 375.7% in the 2nd quarter. Alliancebernstein L.P. now owns 790,254 shares of the company's stock worth $139,085,000 after purchasing an additional 624,125 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Nadja West sold 3,000 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $177.35, for a total value of $532,050.00. Following the transaction, the director directly owned 24,805 shares of the company's stock, valued at approximately $4,399,166.75. This trade represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J Robert Kerrey sold 5,638 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $174.52, for a total transaction of $983,943.76. Following the sale, the director directly owned 16,804 shares of the company's stock, valued at $2,932,634.08. The trade was a 25.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Stephens reduced their price objective on shares of Tenet Healthcare from $275.00 to $260.00 and set an "overweight" rating for the company in a research note on Monday, May 4th. Morgan Stanley set a $254.00 price target on shares of Tenet Healthcare in a report on Friday, May 1st. Wells Fargo & Company boosted their price objective on shares of Tenet Healthcare from $213.00 to $231.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Guggenheim lowered their price objective on Tenet Healthcare from $283.00 to $252.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Finally, Wall Street Zen lowered Tenet Healthcare from a "buy" rating to a "hold" rating in a report on Saturday. Eighteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $245.37.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $194.89 on Monday. The firm has a market capitalization of $16.79 billion, a PE ratio of 10.13, a P/E/G ratio of 1.61 and a beta of 1.27. The company has a 50 day moving average price of $184.35 and a 200-day moving average price of $197.45. Tenet Healthcare Corporation has a 52 week low of $146.60 and a 52 week high of $247.21. The company has a quick ratio of 1.30, a current ratio of 1.36 and a debt-to-equity ratio of 1.96.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.61. The company had revenue of $5.37 billion for the quarter, compared to analysts' expectations of $5.39 billion. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $4.36 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, equities research analysts expect that Tenet Healthcare Corporation will post 17.5 earnings per share 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.

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