The Manufacturers Life Insurance Company Lowers Stock Holdings in Tenet Healthcare Corporation $THC

The Manufacturers Life Insurance Company cut its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 4.3% in the 1st quarter, Holdings Channel reports. The fund owned 94,183 shares of the company’s stock after selling 4,248 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Tenet Healthcare were worth $17,773,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Triumph Capital Management purchased a new stake in shares of Tenet Healthcare during the third quarter worth approximately $25,000. Activest Wealth Management acquired a new position in Tenet Healthcare in the 4th quarter valued at $26,000. Elyxium Wealth LLC purchased a new position in Tenet Healthcare during the 4th quarter worth $29,000. Canada Pension Plan Investment Board acquired a new stake in shares of Tenet Healthcare in the 2nd quarter worth $35,000. Finally, Meeder Asset Management Inc. boosted its holdings 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 acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on THC. Robert W. Baird increased their price target on shares of Tenet Healthcare from $210.00 to $280.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Royal Bank Of Canada boosted their target price on Tenet Healthcare from $236.00 to $283.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Truist Financial raised their price target on Tenet Healthcare from $270.00 to $290.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. UBS Group lifted their price target on Tenet Healthcare from $288.00 to $308.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, TD Cowen increased their price objective on Tenet Healthcare from $233.00 to $263.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $268.50.

Insider Transactions at Tenet Healthcare

In other news, Director Christopher S. Lynch sold 3,837 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $243.44, for a total transaction of $934,079.28. Following the completion of the transaction, the director directly owned 9,568 shares of the company’s stock, valued at $2,329,233.92. This trade represents a 28.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa Y. Foo sold 10,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $258.03, for a total value of $2,580,300.00. Following the transaction, the executive vice president owned 32,053 shares of the company’s stock, valued at $8,270,635.59. This represents a 23.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 33,353 shares of company stock worth $7,683,517 in the last 90 days. Insiders own 0.97% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $254.88 on Friday. The firm has a market capitalization of $21.96 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.97 and a beta of 1.27. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.41 and a quick ratio of 1.35. The business’s 50 day simple moving average is $192.10 and its 200-day simple moving average is $199.35. Tenet Healthcare Corporation has a 12 month low of $156.71 and a 12 month high of $262.68.

Tenet Healthcare (NYSE:THC) last issued 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 return on equity of 26.76% and a net margin of 10.27%.The firm had revenue of $6.04 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the previous year, the firm posted $4.02 earnings per share. Tenet Healthcare’s revenue was up 6.8% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. As a group, equities analysts forecast that Tenet Healthcare Corporation will post 21.09 earnings per share for the current fiscal year.

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.