Truist Financial Corp Raises Stake in Tenet Healthcare Corporation $THC

Truist Financial Corp raised its stake in Tenet Healthcare Corporation (NYSE:THC) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,270 shares of the company’s stock after buying an additional 2,601 shares during the quarter. Truist Financial Corp’s holdings in Tenet Healthcare were worth $2,836,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Wedmont Private Capital grew its holdings in shares of Tenet Healthcare by 2.5% during the 4th quarter. Wedmont Private Capital now owns 2,088 shares of the company’s stock worth $422,000 after purchasing an additional 50 shares during the period. Baron Wealth Management LLC grew its holdings in shares of Tenet Healthcare by 4.8% during the 4th quarter. Baron Wealth Management LLC now owns 1,142 shares of the company’s stock worth $227,000 after purchasing an additional 52 shares during the period. Sagespring Wealth Partners LLC grew its holdings in shares of Tenet Healthcare by 3.6% during the 4th quarter. Sagespring Wealth Partners LLC now owns 1,573 shares of the company’s stock worth $313,000 after purchasing an additional 55 shares during the period. Crestwood Advisors Group LLC lifted its stake in Tenet Healthcare by 2.5% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,606 shares of the company’s stock worth $529,000 after acquiring an additional 64 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Tenet Healthcare by 9.0% during the 4th quarter. Signaturefd LLC now owns 798 shares of the company’s stock worth $159,000 after acquiring an additional 66 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Up 2.2%

Shares of THC stock opened at $195.90 on Wednesday. The business’s 50 day moving average is $202.05 and its two-hundred day moving average is $203.95. Tenet Healthcare Corporation has a twelve month low of $146.60 and a twelve month high of $247.21. The company has a market capitalization of $16.87 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 1.27 and a beta of 1.30. 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 announced its earnings results on Thursday, April 30th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.61. Tenet Healthcare had a return on equity of 25.55% and a net margin of 7.94%.The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the business posted $4.36 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. Equities analysts forecast that Tenet Healthcare Corporation will post 17.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on THC. Cantor Fitzgerald reissued an “overweight” rating on shares of Tenet Healthcare in a research note on Wednesday, March 4th. KeyCorp dropped their price objective on Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Guggenheim dropped their price target on Tenet Healthcare from $283.00 to $252.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Truist Financial raised their price target on Tenet Healthcare from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen downgraded Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Monday. Nineteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and a consensus price target of $244.16.

Insider Activity

In other news, insider R. Scott Ramsey sold 8,017 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $232.70, for a total value of $1,865,555.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas W. Arnst sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $238.85, for a total value of $1,910,800.00. Following the completion of the sale, the executive vice president directly owned 12 shares of the company’s stock, valued at $2,866.20. This represents a 99.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 46,517 shares of company stock valued at $10,943,111 in the last three months. 0.81% of the stock is currently owned by company insiders.

Tenet Healthcare 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.