Public Employees Retirement System of Ohio Makes New $10.14 Million Investment in Tenet Healthcare Corporation $THC

Public Employees Retirement System of Ohio purchased a new position in shares of Tenet Healthcare Corporation (NYSE:THC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 54,224 shares of the company’s stock, valued at approximately $10,144,000.

Other hedge funds have also recently bought and sold shares of the company. Triumph Capital Management acquired a new position in Tenet Healthcare in the 3rd quarter valued at $25,000. Elyxium Wealth LLC acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth $29,000. Meeder Asset Management Inc. grew its position in shares of Tenet Healthcare by 146.2% in the fourth quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares during the period. Trust Co. of Vermont purchased a new position in Tenet Healthcare during the second quarter worth about $37,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Tenet Healthcare in the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

In other news, Director Cecil D. Haney sold 1,300 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $278.03, for a total value of $361,439.00. Following the completion of the sale, the director owned 12,553 shares in the company, valued at approximately $3,490,110.59. This trade represents a 9.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Saumya Sutaria sold 50,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 483,564 shares in the company, valued at $134,774,122.44. This trade represents a 9.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 84,037 shares of company stock worth $22,574,292 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Tenet Healthcare Trading Down 0.4%

NYSE THC opened at $265.83 on Tuesday. The firm has a market capitalization of $21.40 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.02 and a beta of 1.23. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41. Tenet Healthcare Corporation has a one year low of $157.58 and a one year high of $283.05. The company’s 50 day moving average price is $231.73 and its 200 day moving average price is $210.16.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The company had revenue of $6.04 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm earned $4.02 earnings per share. Tenet Healthcare’s revenue for the quarter was up 6.8% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. On average, sell-side analysts predict that Tenet Healthcare Corporation will post 20.98 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on THC shares. Barclays upped their price objective on shares of Tenet Healthcare from $240.00 to $271.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Zacks Research raised shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada increased their price target on shares of Tenet Healthcare from $236.00 to $283.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Truist Financial boosted their price objective on shares of Tenet Healthcare from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $285.00 target price on shares of Tenet Healthcare in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $273.00.

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.