California Public Employees Retirement System Cuts Position in Tenet Healthcare Corporation $THC

California Public Employees Retirement System trimmed its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 23.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,544 shares of the company’s stock after selling 53,923 shares during the period. California Public Employees Retirement System’s holdings in Tenet Healthcare were worth $33,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of THC. Kera Capital Partners Inc. increased its position in Tenet Healthcare by 18.8% in the first quarter. Kera Capital Partners Inc. now owns 1,572 shares of the company’s stock worth $297,000 after purchasing an additional 249 shares during the last quarter. PeakShares LLC increased its holdings in shares of Tenet Healthcare by 3.3% in the 1st quarter. PeakShares LLC now owns 1,693 shares of the company’s stock worth $319,000 after buying an additional 54 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Tenet Healthcare by 39.2% in the 1st quarter. Bessemer Group Inc. now owns 810 shares of the company’s stock valued at $153,000 after acquiring an additional 228 shares during the last quarter. SteelPeak Wealth LLC bought a new stake in Tenet Healthcare during the first quarter worth approximately $440,000. Finally, Independent Financial Group LLC purchased a new stake in Tenet Healthcare during the first quarter valued at approximately $490,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Stephens dropped their target price on Tenet Healthcare from $275.00 to $260.00 and set an “overweight” rating for the company in a report on Monday, May 4th. KeyCorp lowered their price target on Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Weiss Ratings lowered shares of Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. Robert W. Baird reduced their target price on shares of Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Finally, Barclays raised their target price on shares of Tenet Healthcare from $238.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.84.

Insider Transactions at Tenet Healthcare

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

Tenet Healthcare Price Performance

Shares of THC stock opened at $196.19 on Wednesday. The stock has a 50 day moving average price of $184.41 and a 200 day moving average price of $197.39. Tenet Healthcare Corporation has a 52-week low of $146.60 and a 52-week high of $247.21. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.30 and a current ratio of 1.36. The firm has a market capitalization of $16.90 billion, a P/E ratio of 10.20, a P/E/G 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 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $5.39 billion. During the same quarter in the prior year, the company posted $4.36 EPS. Tenet Healthcare’s quarterly revenue was up 2.6% on a year-over-year basis. Tenet Healthcare has set its FY 2026 guidance at 16.380-18.68 EPS. As a group, sell-side 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.