Ameriprise Financial Inc. Sells 283,312 Shares of Tenet Healthcare Corporation $THC

Ameriprise Financial Inc. lowered its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 13.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,836,111 shares of the company’s stock after selling 283,312 shares during the period. Ameriprise Financial Inc. owned 2.09% of Tenet Healthcare worth $372,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. William B. Walkup & Associates Inc. purchased a new stake in Tenet Healthcare in the 3rd quarter worth $32,000. Canada Pension Plan Investment Board bought a new stake in shares of Tenet Healthcare in the second quarter worth about $35,000. Westside Investment Management Inc. lifted its position in shares of Tenet Healthcare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 192 shares of the company’s stock worth $39,000 after buying an additional 96 shares in the last quarter. Trust Co. of Vermont bought a new position in Tenet Healthcare during the third quarter valued at approximately $41,000. Finally, Geneos Wealth Management Inc. grew its holdings in Tenet Healthcare by 50.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 264 shares of the company’s stock valued at $46,000 after buying an additional 89 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group increased their target price on Tenet Healthcare from $260.00 to $288.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Wall Street Zen raised shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 1st. Barclays lifted their price objective on shares of Tenet Healthcare from $240.00 to $257.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Wells Fargo & Company restated an “overweight” rating and set a $265.00 target price on shares of Tenet Healthcare in a research report on Monday, February 16th. Finally, Truist Financial lifted their price target on Tenet Healthcare from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.56.

Tenet Healthcare Trading Down 3.5%

THC stock opened at $219.58 on Tuesday. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $247.21. The stock has a market capitalization of $19.09 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.10 and a beta of 1.39. 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 firm’s fifty day simple moving average is $213.71 and its two-hundred day simple moving average is $204.56.

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

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, insider R. Scott Ramsey sold 8,017 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $232.70, for a total value of $1,865,555.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas W. Arnst sold 8,000 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $238.85, for a total transaction of $1,910,800.00. Following the sale, the executive vice president directly owned 12 shares of the company’s stock, valued at $2,866.20. This represents a 99.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 46,517 shares of company stock worth $10,943,111. 0.81% of the stock is currently owned by company insiders.

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.