Manning & Napier Advisors LLC Takes $168.76 Million Position in Tenet Healthcare Corporation $THC

Manning & Napier Advisors LLC bought a new stake in shares of Tenet Healthcare Corporation (NYSE:THC) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 901,645 shares of the company’s stock, valued at approximately $168,761,000. Tenet Healthcare comprises approximately 2.2% of Manning & Napier Advisors LLC’s portfolio, making the stock its 14th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Globeflex Capital L P acquired a new stake in Tenet Healthcare during the second quarter valued at approximately $6,763,000. Compass Financial Management LLC bought a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $57,000. Westport Asset Management Inc. acquired a new stake in Tenet Healthcare in the 2nd quarter valued at $187,000. Foster & Motley Inc. bought a new stake in Tenet Healthcare in the second quarter valued at $1,628,000. Finally, Trust Co. of Vermont acquired a new position in Tenet Healthcare during the second quarter worth $37,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Piper Sandler set a $308.00 target price on shares of Tenet Healthcare in a research report on Monday, July 27th. Wells Fargo & Company raised their price objective on shares of Tenet Healthcare from $231.00 to $281.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. The Goldman Sachs Group restated a “buy” rating and set a $305.00 price target on shares of Tenet Healthcare in a research report on Tuesday, July 28th. TD Cowen boosted their price objective on Tenet Healthcare from $233.00 to $263.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada upped their price target on shares of Tenet Healthcare from $236.00 to $283.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Buy” and an average target price of $273.00.

Tenet Healthcare Trading Down 0.7%

THC opened at $278.71 on Tuesday. Tenet Healthcare Corporation has a fifty-two week low of $157.58 and a fifty-two week high of $283.05. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.07 and a beta of 1.23. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.41 and a quick ratio of 1.35. The firm has a 50 day simple moving average of $222.52 and a 200 day simple moving average of $207.54.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Thursday, July 23rd. The company reported $6.12 EPS for the quarter, beating the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The company had revenue of $6.04 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the company posted $4.02 EPS. The business’s revenue for the quarter 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. On average, sell-side analysts anticipate that Tenet Healthcare Corporation will post 20.97 earnings per share for the current year.

Insider Activity

In other news, EVP Lisa Y. Foo sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $258.03, for a total transaction of $2,580,300.00. Following the completion of the transaction, the executive vice president directly owned 32,053 shares in the company, valued at approximately $8,270,635.59. The trade was a 23.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher S. Lynch sold 3,837 shares of Tenet Healthcare stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $243.44, for a total transaction of $934,079.28. Following the transaction, the director directly owned 9,568 shares in the company, valued at $2,329,233.92. The trade was a 28.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,375 shares of company stock valued at $9,793,347. Insiders own 0.97% of the company’s stock.

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.