Allspring Global Investments Holdings LLC Cuts Holdings in Tenet Healthcare Corporation $THC

Allspring Global Investments Holdings LLC cut its holdings in Tenet Healthcare Corporation (NYSE:THC) by 15.9% during the first quarter, Holdings Channel reports. The institutional investor owned 289,797 shares of the company’s stock after selling 54,591 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tenet Healthcare were worth $55,140,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of THC. Wedmont Private Capital boosted its holdings in Tenet Healthcare by 2.5% during the fourth quarter. Wedmont Private Capital now owns 2,088 shares of the company’s stock worth $422,000 after buying an additional 50 shares in the last quarter. Baron Wealth Management LLC boosted its stake in shares of Tenet Healthcare by 4.8% during the 4th quarter. Baron Wealth Management LLC now owns 1,142 shares of the company’s stock worth $227,000 after acquiring an additional 52 shares in the last quarter. Sagespring Wealth Partners LLC grew its holdings in shares of Tenet Healthcare by 3.6% in the 4th quarter. Sagespring Wealth Partners LLC now owns 1,573 shares of the company’s stock worth $313,000 after acquiring an additional 55 shares during the period. Sanctuary Advisors LLC increased its stake in Tenet Healthcare by 0.5% in the 1st quarter. Sanctuary Advisors LLC now owns 11,900 shares of the company’s stock valued at $2,246,000 after purchasing an additional 57 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Tenet Healthcare by 0.7% during the fourth quarter. Quadrant Capital Group LLC now owns 8,134 shares of the company’s stock worth $1,616,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 5,638 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total transaction of $983,943.76. Following the transaction, the director directly owned 16,804 shares of the company’s stock, valued at approximately $2,932,634.08. The trade was a 25.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Nadja West sold 3,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total transaction of $532,050.00. Following the sale, the director owned 24,805 shares in the company, valued at $4,399,166.75. This represents a 10.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on THC. Robert W. Baird cut their price target on Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Royal Bank Of Canada dropped their target price on shares of Tenet Healthcare from $277.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, May 1st. TD Cowen reduced their price target on shares of Tenet Healthcare from $242.00 to $233.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Guggenheim lowered their price target on shares of Tenet Healthcare from $283.00 to $252.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded Tenet Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday. Eighteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $245.37.

Tenet Healthcare Stock Performance

NYSE THC opened at $194.89 on Friday. Tenet Healthcare Corporation has a twelve month low of $146.60 and a twelve month high of $247.21. The business’s 50-day moving average price is $184.35 and its 200 day moving average price is $197.48. The company has a current ratio of 1.36, a quick ratio of 1.30 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $16.79 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Thursday, April 30th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.61. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Tenet Healthcare had a net margin of 7.94% and a return on equity of 25.55%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $4.36 EPS. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. On average, research analysts predict that Tenet Healthcare Corporation will post 17.5 earnings per share for the current year.

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.