Tenet Healthcare Corp. (NYSE:THC) director Roy Blunt has trimmed his stake in the hospital operator, selling 1,000 shares of common stock on November 11, 2026, according to a regulatory filing. The shares were sold at $293.00 each, generating proceeds of $293,000 for the director.
The transaction was disclosed in a Form 4 filing, which details changes in beneficial ownership. The filing was signed by Chad J. Wiener as Attorney-in-fact for Roy Blunt on November 13, 2026. Following the sale, Mr. Blunt directly holds 3,589 shares of Tenet Healthcare common stock.
The sale comes as Tenet's stock trades near its 52-week high of $301.44, reflecting a strong year-to-date return of 44%. The share price at the time of the transaction was $293.00, close to that annual peak.
In other recent developments, Tenet Healthcare reported stronger-than-expected third-quarter 2026 results. Adjusted earnings per share reached $6.64, surpassing analysts' estimates of $4.67. Revenue also exceeded expectations, coming in at $5.63 billion compared to the projected $5.49 billion.
Following these results, Tenet raised its full-year adjusted EBITDA outlook. Analysts responded to the strong performance: Mizuho increased its price target for Tenet Healthcare shares to $305 while maintaining an Outperform rating. Meanwhile, Guggenheim adjusted its price target slightly downward to $306 but kept a Buy rating, noting the company's operational alignment and significant free cash flow. Guggenheim also highlighted Tenet's continued benefits from USPI's high-acuity strategy and disciplined hospital operations.
These developments reflect a robust financial performance and strategic positioning for Tenet Healthcare in recent times.