California State Teachers Retirement System Grows Stake in Tenet Healthcare Corporation $THC

California State Teachers Retirement System boosted its stake in Tenet Healthcare Corporation (NYSE:THC) by 18,362.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,885,726 shares of the company’s stock after buying an additional 18,783,432 shares during the quarter. California State Teachers Retirement System owned approximately 0.23% of Tenet Healthcare worth $3,533,142,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Tenet Healthcare during the fourth quarter valued at approximately $248,494,000. Wellington Management Group LLP increased its position in shares of Tenet Healthcare by 1,114.2% during the fourth quarter. Wellington Management Group LLP now owns 1,135,801 shares of the company’s stock worth $225,706,000 after purchasing an additional 1,042,260 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Tenet Healthcare in the 2nd quarter valued at $168,761,000. Boston Partners lifted its holdings in Tenet Healthcare by 38.8% in the 3rd quarter. Boston Partners now owns 3,147,555 shares of the company’s stock valued at $638,958,000 after purchasing an additional 880,413 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Tenet Healthcare by 62.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company’s stock worth $380,989,000 after purchasing an additional 720,160 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Down 2.0%

THC opened at $263.75 on Friday. The stock has a market capitalization of $21.24 billion, a PE ratio of 10.17, a P/E/G ratio of 1.03 and a beta of 1.23. Tenet Healthcare Corporation has a one year low of $157.58 and a one year high of $283.05. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41. The business’s 50 day moving average price is $243.84 and its 200 day moving average price is $212.04.

Tenet Healthcare (NYSE:THC) last posted its earnings results 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 company had revenue of $6.04 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the firm earned $4.02 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. As a group, equities research analysts expect that Tenet Healthcare Corporation will post 21.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada increased their target price on shares of Tenet Healthcare from $236.00 to $283.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Zacks Research upgraded Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Mizuho set a $290.00 target price on Tenet Healthcare in a report on Monday, August 10th. Morgan Stanley raised their target price on Tenet Healthcare from $254.00 to $274.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Finally, UBS Group boosted their price target on shares of Tenet Healthcare from $288.00 to $308.00 and gave the company a “buy” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Buy” and an average price target of $275.53.

Insider Activity

In related news, EVP Lisa Foo sold 24,000 shares of Tenet Healthcare stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $266.32, for a total value of $6,391,680.00. Following the completion of the sale, the executive vice president owned 8,053 shares in the company, valued at approximately $2,144,674.96. This trade represents a 74.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher Lynch sold 3,837 shares of the business’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 value of $934,079.28. Following the completion of the sale, the director directly owned 9,568 shares in the company, valued at approximately $2,329,233.92. The trade was a 28.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 109,189 shares of company stock worth $29,264,109 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company that owns and operates acute care hospitals and other healthcare facilities in the United States. Its hospitals provide services including emergency care, surgery, cardiovascular care, orthopedics, oncology, women’s health and other inpatient and outpatient treatments.

Through its ambulatory business, United Surgical Partners International, Tenet operates and manages ambulatory surgery centers and other outpatient facilities.