Rhenman & Partners Asset Management AB Sells 78,000 Shares of Tenet Healthcare Corporation $THC

Rhenman & Partners Asset Management AB lessened its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 57.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 58,429 shares of the company’s stock after selling 78,000 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Tenet Healthcare were worth $11,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Crestwood Advisors Group LLC raised its position in shares of Tenet Healthcare by 2.5% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,606 shares of the company’s stock valued at $529,000 after buying an additional 64 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Tenet Healthcare by 1.7% in the 2nd quarter. ProShare Advisors LLC now owns 4,118 shares of the company’s stock worth $725,000 after purchasing an additional 67 shares during the period. Quadcap Wealth Management LLC lifted its position in Tenet Healthcare by 1.7% in the second quarter. Quadcap Wealth Management LLC now owns 4,099 shares of the company’s stock worth $721,000 after buying an additional 69 shares during the last quarter. Andina Capital Management LLC increased its position in Tenet Healthcare by 2.1% during the third quarter. Andina Capital Management LLC now owns 3,360 shares of the company’s stock valued at $682,000 after acquiring an additional 69 shares during the last quarter. Finally, Choreo LLC lifted its holdings in shares of Tenet Healthcare by 2.9% in the 3rd quarter. Choreo LLC now owns 2,636 shares of the company’s stock worth $535,000 after acquiring an additional 75 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tenet Healthcare

In related news, EVP Thomas W. Arnst sold 24,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $234.04, for a total value of $5,616,960.00. Following the completion of the transaction, the executive vice president directly owned 8,012 shares of the company’s stock, valued at $1,875,128.48. This trade represents a 74.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nadja West sold 2,178 shares of Tenet Healthcare 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 sale, the director owned 28,480 shares of the company’s stock, valued at $5,623,945.60. The trade was a 7.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,195 shares of company stock valued at $7,912,606 in the last ninety days. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Down 2.0%

NYSE:THC opened at $236.67 on Friday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.68 and a current ratio of 1.76. The stock has a market capitalization of $20.58 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.17 and a beta of 1.39. The company’s 50-day simple moving average is $210.13 and its 200-day simple moving average is $202.29. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $247.21.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Wednesday, February 11th. The company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.47 billion. During the same quarter in the prior year, the company posted $3.44 earnings per share. Tenet Healthcare’s revenue for the quarter 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. On average, equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on THC shares. KeyCorp upped their price target on shares of Tenet Healthcare from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Guggenheim boosted their target price on Tenet Healthcare from $257.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Barclays increased their price target on Tenet Healthcare from $240.00 to $257.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Leerink Partners increased their target price on Tenet Healthcare from $255.00 to $264.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $265.00 price objective on shares of Tenet Healthcare in a research report on Monday, February 16th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.67.

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.