Explore Capital Management LLC Cuts Stock Position in Tenet Healthcare Corporation $THC

Explore Capital Management LLC reduced its stake in Tenet Healthcare Corporation (NYSE:THC) by 18.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 50,300 shares of the company’s stock after selling 11,200 shares during the quarter. Tenet Healthcare makes up 6.3% of Explore Capital Management LLC’s portfolio, making the stock its 7th biggest position. Explore Capital Management LLC’s holdings in Tenet Healthcare were worth $10,213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in THC. William B. Walkup & Associates Inc. bought a new position in Tenet Healthcare in the third quarter worth approximately $32,000. Westside Investment Management Inc. raised its position in shares of Tenet Healthcare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock worth $39,000 after purchasing an additional 96 shares during the period. Trust Co. of Vermont acquired a new stake in Tenet Healthcare in the 3rd quarter valued at $41,000. Canada Pension Plan Investment Board bought a new stake in Tenet Healthcare during the 2nd quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Tenet Healthcare by 2,227.3% in the second 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 in the last quarter. 95.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Tenet Healthcare news, Director Nadja West sold 2,178 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $197.47, for a total transaction of $430,089.66. Following the completion of the transaction, the director directly owned 28,480 shares of the company’s stock, valued at approximately $5,623,945.60. This represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald upped their target price on shares of Tenet Healthcare from $190.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Truist Financial raised their target price on Tenet Healthcare from $240.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Wells Fargo & Company reiterated an “overweight” rating and set a $265.00 price target on shares of Tenet Healthcare in a report on Monday, February 16th. Barclays raised their price objective on Tenet Healthcare from $240.00 to $257.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Finally, UBS Group increased their target price on shares of Tenet Healthcare from $260.00 to $288.00 and gave the company a “buy” rating in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $247.67.

Tenet Healthcare Trading Up 0.6%

Shares of Tenet Healthcare stock opened at $229.56 on Friday. The stock has a fifty day moving average price of $201.87 and a 200-day moving average price of $197.42. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.76 and a quick ratio of 1.68. The firm has a market cap of $19.96 billion, a PE ratio of 14.82, a P/E/G ratio of 1.13 and a beta of 1.44. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $235.77.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.62. The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.47 billion. Tenet Healthcare had a net margin of 6.60% and a return on equity of 26.33%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.44 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 16.190-18.470 EPS. Equities research analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

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.