Wakefield Asset Management LLLP Decreases Stake in Tenet Healthcare Corporation $THC

Wakefield Asset Management LLLP lessened its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 17.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,143 shares of the company’s stock after selling 4,611 shares during the quarter. Tenet Healthcare makes up approximately 1.2% of Wakefield Asset Management LLLP’s portfolio, making the stock its 19th biggest position. Wakefield Asset Management LLLP’s holdings in Tenet Healthcare were worth $4,293,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in THC. Boston Partners boosted its position in Tenet Healthcare by 95.0% during the 2nd quarter. Boston Partners now owns 2,267,142 shares of the company’s stock valued at $398,949,000 after buying an additional 1,104,500 shares during the period. Ameriprise Financial Inc. increased its position in shares of Tenet Healthcare by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock valued at $373,020,000 after acquiring an additional 157,109 shares during the period. Norges Bank bought a new position in shares of Tenet Healthcare during the second quarter valued at about $206,981,000. AQR Capital Management LLC grew its stake in shares of Tenet Healthcare by 28.0% in the second quarter. AQR Capital Management LLC now owns 1,156,263 shares of the company’s stock worth $200,224,000 after purchasing an additional 252,993 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Tenet Healthcare by 375.7% during the 2nd quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock valued at $139,085,000 after purchasing an additional 624,125 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Price Performance

THC opened at $237.30 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.68 and a debt-to-equity ratio of 2.18. The company has a market cap of $20.64 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.19 and a beta of 1.39. The stock has a fifty day simple moving average of $211.66 and a two-hundred day simple moving average of $203.29. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $247.21.

Tenet Healthcare (NYSE:THC) last announced 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. The firm had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Tenet Healthcare had a net margin of 6.60% and a return on equity of 26.33%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.44 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.190-18.470 EPS. Research analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

THC has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tenet Healthcare in a report on Wednesday, March 4th. Jefferies Financial Group upped their target price on Tenet Healthcare from $250.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, February 12th. TD Cowen reaffirmed a “buy” rating on shares of Tenet Healthcare in a research note on Thursday, February 12th. Wall Street Zen raised shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 1st. Finally, Weiss Ratings raised shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $247.67.

Insiders Place Their Bets

In related news, EVP Thomas W. Arnst sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $238.85, for a total value of $1,910,800.00. Following the sale, the executive vice president owned 12 shares in the company, valued at $2,866.20. This represents a 99.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider R. Scott Ramsey sold 8,017 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $232.70, for a total value of $1,865,555.90. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 42,195 shares of company stock worth $9,823,406. 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.