Bank of New York Mellon Corp Sells 40,155 Shares of Tenet Healthcare Corporation $THC

Bank of New York Mellon Corp reduced its stake in Tenet Healthcare Corporation (NYSE:THC) by 6.2% during the first quarter, HoldingsChannel.com reports. The firm owned 606,242 shares of the company’s stock after selling 40,155 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tenet Healthcare were worth $114,404,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Triumph Capital Management bought a new position in shares of Tenet Healthcare in the third quarter worth approximately $25,000. Activest Wealth Management bought a new position in Tenet Healthcare in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new stake in shares of Tenet Healthcare in the 4th quarter worth $29,000. Canada Pension Plan Investment Board purchased a new position in shares of Tenet Healthcare in the second quarter worth $35,000. Finally, Meeder Asset Management Inc. raised its position in Tenet Healthcare by 146.2% in the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock worth $38,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE THC opened at $194.43 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.36 and a debt-to-equity ratio of 1.96. Tenet Healthcare Corporation has a twelve month low of $146.60 and a twelve month high of $247.21. The business has a 50-day moving average price of $184.41 and a 200-day moving average price of $197.41. The firm has a market cap of $16.75 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on THC shares. Wells Fargo & Company boosted their price objective on shares of Tenet Healthcare from $213.00 to $231.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Guggenheim dropped their price target on Tenet Healthcare from $252.00 to $242.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank Of Canada reduced their price objective on Tenet Healthcare from $277.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. KeyCorp dropped their target price on Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, TD Cowen lowered their price objective on shares of Tenet Healthcare from $242.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $244.84.

Insiders Place Their Bets

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