13,411 Shares in Tenet Healthcare Corporation $THC Bought by Wealthstream Advisors Inc.

Key Points

• Wealthstream Advisors Inc. has acquired a new position in Tenet Healthcare Corporation (NYSE: THC) by purchasing 13,411 shares worth approximately $2.36 million, making it the firm's 28th largest holding.
• Several hedge funds have increased their stakes in Tenet Healthcare, with notable increases from GAMMA Investing LLC and Sivik Global Healthcare LLC, indicating a growing interest from institutional investors.
• Analysts have varied opinions on Tenet Healthcare, with Bank of America setting a target price of $225.00 and a majority rating it as a "Moderate Buy," while some have downgraded their price targets.

Wealthstream Advisors Inc. bought a new position in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,411 shares of the company's stock, valued at approximately $2,360,000. Tenet Healthcare accounts for approximately 0.4% of Wealthstream Advisors Inc.'s holdings, making the stock its 28th biggest position.

Several other hedge funds also recently added to or reduced their stakes in THC. GAMMA Investing LLC raised its position in Tenet Healthcare by 28.1% in the first quarter. GAMMA Investing LLC now owns 1,430 shares of the company's stock valued at $192,000 after purchasing an additional 314 shares during the period. Janney Montgomery Scott LLC purchased a new position in Tenet Healthcare in the first quarter valued at about $1,986,000. QRG Capital Management Inc. raised its position in Tenet Healthcare by 7.8% in the first quarter. QRG Capital Management Inc. now owns 8,798 shares of the company's stock valued at $1,183,000 after purchasing an additional 640 shares during the period. State of Alaska Department of Revenue raised its position in Tenet Healthcare by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 22,139 shares of the company's stock valued at $2,977,000 after purchasing an additional 290 shares during the period. Finally, Sivik Global Healthcare LLC raised its position in Tenet Healthcare by 27.3% in the first quarter. Sivik Global Healthcare LLC now owns 70,000 shares of the company's stock valued at $9,415,000 after purchasing an additional 15,000 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on THC. Bank of America raised their target price on Tenet Healthcare from $205.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Robert W. Baird lowered their target price on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Weiss Ratings restated a "hold (c+)" rating on shares of Tenet Healthcare in a research note on Wednesday, October 8th. Wolfe Research downgraded Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Finally, Truist Financial set a $225.00 target price on Tenet Healthcare in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Tenet Healthcare has an average rating of "Moderate Buy" and a consensus price target of $209.25.

Tenet Healthcare Stock Up 0.4%

NYSE:THC opened at $199.89 on Friday. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 0.86 and a beta of 1.52. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $207.14. The stock has a 50-day simple moving average of $189.23 and a 200 day simple moving average of $167.02. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The business had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same period last year, the firm earned $2.31 earnings per share. The company's revenue for the quarter was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Sell-side analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the transaction, the director owned 12,358 shares of the company's stock, valued at $2,179,827.62. This trade represents a 24.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the completion of the transaction, the executive vice president directly owned 20,878 shares in the company, valued at $3,748,227.34. This represents a 27.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,722 shares of company stock valued at $17,161,015 over the last quarter. Insiders own 0.81% of the company's stock.

Tenet Healthcare Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Want to see what other hedge funds are holding THC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenet Healthcare Corporation (NYSE:THC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.