Principal Financial Group Inc. Sells 7,237 Shares of Tenet Healthcare Corporation $THC

Principal Financial Group Inc. reduced its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 3.7% in the fourth quarter, Holdings Channel reports. The firm owned 188,965 shares of the company’s stock after selling 7,237 shares during the quarter. Principal Financial Group Inc.’s holdings in Tenet Healthcare were worth $37,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Triumph Capital Management bought a new position in Tenet Healthcare during the 3rd quarter valued at about $25,000. Activest Wealth Management bought a new position in Tenet Healthcare during the 4th quarter valued at about $26,000. William B. Walkup & Associates Inc. bought a new position in Tenet Healthcare during the 3rd quarter valued at about $32,000. Canada Pension Plan Investment Board bought a new position in Tenet Healthcare during the 2nd quarter valued at about $35,000. Finally, Westside Investment Management Inc. lifted its stake in Tenet Healthcare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock valued at $39,000 after acquiring an additional 96 shares during the period. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Trading Down 1.9%

Tenet Healthcare stock opened at $190.37 on Friday. The firm has a 50 day moving average of $204.80 and a 200 day moving average of $204.17. The firm has a market capitalization of $16.40 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 1.27 and a beta of 1.30. Tenet Healthcare Corporation has a 12-month low of $146.60 and a 12-month high of $247.21. The company has a current ratio of 1.36, a quick ratio of 1.30 and a debt-to-equity ratio of 1.96.

Tenet Healthcare (NYSE:THC) last released 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 during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, research analysts predict that Tenet Healthcare Corporation will post 17.56 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, 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 $6,983,853.13. This trade represents a 18.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $1,865,555.90. 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 over the last 90 days. Company insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the topic of several research analyst reports. Mizuho upped their target price on shares of Tenet Healthcare from $235.00 to $265.00 and gave the company an “outperform” rating in a research note on Thursday, March 12th. Wells Fargo & Company lowered their price objective on shares of Tenet Healthcare from $265.00 to $213.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. TD Cowen reiterated a “buy” rating on shares of Tenet Healthcare in a research note on Thursday, February 12th. UBS Group increased their price objective on shares of Tenet Healthcare from $260.00 to $288.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Guggenheim lowered their price objective on shares of Tenet Healthcare from $283.00 to $252.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Nineteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.16.

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.