Tenet Healthcare Corporation $THC Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP lowered its holdings in Tenet Healthcare Corporation (NYSE:THC) by 82.7% in the second quarter, HoldingsChannel reports. The firm owned 10,660 shares of the company’s stock after selling 50,970 shares during the quarter. Engineers Gate Manager LP’s holdings in Tenet Healthcare were worth $1,994,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Elyxium Wealth LLC purchased a new position in Tenet Healthcare in the fourth quarter valued at $29,000. Trust Co. of Vermont purchased a new position in shares of Tenet Healthcare in the 2nd quarter valued at about $37,000. OP Asset Management Ltd acquired a new position in shares of Tenet Healthcare during the first quarter worth about $49,000. Compass Financial Management LLC purchased a new stake in shares of Tenet Healthcare during the second quarter worth approximately $57,000. Finally, William B. Walkup & Associates Inc. raised its holdings in Tenet Healthcare by 88.7% in the fourth quarter. William B. Walkup & Associates Inc. now owns 302 shares of the company’s stock valued at $60,000 after acquiring an additional 142 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Saumya Sutaria sold 50,000 shares of the company’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 sale, the chief executive officer owned 483,564 shares in the company, valued at $134,774,122.44. This represents a 9.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lisa Foo sold 24,000 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $266.32, for a total value of $6,391,680.00. Following the completion of the sale, the executive vice president directly owned 8,053 shares in the company, valued at $2,144,674.96. This trade represents a 74.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 119,189 shares of company stock valued at $31,898,309 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Royal Bank Of Canada boosted their target price 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. Barclays lifted their price target on Tenet Healthcare from $240.00 to $271.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tenet Healthcare in a report on Monday, July 27th. The Goldman Sachs Group restated a “buy” rating and set a $305.00 target price on shares of Tenet Healthcare in a research note on Tuesday, July 28th. Finally, Mizuho set a $290.00 price target on Tenet Healthcare in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare currently has an average rating of “Buy” and an average target price of $275.53.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $260.51 on Wednesday. The stock’s 50-day moving average price is $247.22 and its 200 day moving average price is $212.60. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $20.98 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 1.01 and a beta of 1.23. Tenet Healthcare Corporation has a 52-week low of $157.58 and a 52-week high of $283.05.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.26 by $1.86. The company had revenue of $6.04 billion during the quarter, compared to the consensus estimate of $5.43 billion. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. Tenet Healthcare’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.02 EPS. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. As a group, equities research analysts forecast that Tenet Healthcare Corporation will post 21.04 EPS for the current year.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company that owns and operates acute care hospitals and other healthcare facilities in the United States. Its hospitals provide services including emergency care, surgery, cardiovascular care, orthopedics, oncology, women’s health and other inpatient and outpatient treatments.

Through its ambulatory business, United Surgical Partners International, Tenet operates and manages ambulatory surgery centers and other outpatient facilities.