Assetmark Inc. Cuts Stock Position in Tenet Healthcare Corporation $THC

Assetmark Inc. trimmed its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 26.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,363 shares of the company’s stock after selling 2,346 shares during the period. Assetmark Inc.’s holdings in Tenet Healthcare were worth $1,292,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Leuthold Group LLC grew its stake in shares of Tenet Healthcare by 3.5% during the third quarter. Leuthold Group LLC now owns 29,872 shares of the company’s stock valued at $6,065,000 after buying an additional 1,015 shares during the last quarter. Savvy Advisors Inc. purchased a new stake in Tenet Healthcare during the 3rd quarter valued at about $239,000. Caprock Group LLC bought a new position in Tenet Healthcare during the 3rd quarter worth approximately $1,633,000. Advisors Asset Management Inc. increased its stake in Tenet Healthcare by 56.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,561 shares of the company’s stock worth $520,000 after purchasing an additional 925 shares during the period. Finally, Krilogy Financial LLC purchased a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $1,192,000. 95.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Nadja West sold 2,178 shares of the business’s stock in a transaction dated 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 sale, the director owned 28,480 shares of the company’s stock, valued at approximately $5,623,945.60. The trade was a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Trading Down 1.8%

Tenet Healthcare stock opened at $227.68 on Friday. The business has a 50-day simple moving average of $201.26 and a two-hundred day simple moving average of $196.69. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $235.77. The company has a quick ratio of 1.68, a current ratio of 1.76 and a debt-to-equity ratio of 2.18. The company has a market cap of $19.80 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.14 and a beta of 1.44.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $260.00 price target on shares of Tenet Healthcare in a report on Thursday, February 12th. KeyCorp upped their target price on Tenet Healthcare from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Wells Fargo & Company reiterated an “overweight” rating and issued a $265.00 price target on shares of Tenet Healthcare in a research note on Monday. Jefferies Financial Group raised their price target on Tenet Healthcare from $250.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Truist Financial boosted their price objective on shares of Tenet Healthcare from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $246.71.

About Tenet Healthcare

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.