New York State Teachers Retirement System Sells 5,401 Shares of Tenet Healthcare Corporation $THC

New York State Teachers Retirement System lessened its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 5.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 92,381 shares of the company’s stock after selling 5,401 shares during the period. New York State Teachers Retirement System owned 0.10% of Tenet Healthcare worth $18,757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Chung Wu Investment Group LLC acquired a new stake in Tenet Healthcare in the 2nd quarter valued at about $35,000. Trust Co. of Vermont acquired a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $41,000. Canada Pension Plan Investment Board bought a new position in Tenet Healthcare in the 2nd quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd boosted its position in Tenet Healthcare by 2,227.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 256 shares of the company’s stock valued at $45,000 after buying an additional 245 shares during the last quarter. Finally, True Wealth Design LLC increased its stake in shares of Tenet Healthcare by 238.2% in the 2nd quarter. True Wealth Design LLC now owns 257 shares of the company’s stock valued at $45,000 after buying an additional 181 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on THC. Cowen reiterated a “buy” rating on shares of Tenet Healthcare in a report on Wednesday, January 7th. Mizuho upped their target price on shares of Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Wells Fargo & Company lowered their price target on shares of Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. UBS Group increased their price objective on shares of Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group initiated coverage on shares of Tenet Healthcare in a report on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.81.

Tenet Healthcare Stock Down 0.2%

Shares of NYSE THC opened at $199.16 on Wednesday. The firm has a 50 day moving average price of $202.02 and a 200 day moving average price of $190.46. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.64 and a current ratio of 1.71. The stock has a market cap of $17.50 billion, a P/E ratio of 13.65, a P/E/G ratio of 0.85 and a beta of 1.41. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $222.82.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period last year, the firm posted $2.93 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insiders Place Their Bets

In other news, Director Nadja West sold 2,178 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the sale, the director owned 28,480 shares of the company’s stock, valued at $5,623,945.60. This trade represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tammy Romo sold 645 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $205.20, for a total value of $132,354.00. Following the sale, the director directly owned 34,866 shares of the company’s stock, valued at approximately $7,154,503.20. The trade was a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 45,500 shares of company stock valued at $9,247,071 over the last ninety days. 0.81% of the stock is owned by insiders.

Tenet Healthcare Company 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.