1,387 Shares in Tenet Healthcare Corporation $THC Bought by 111 Capital

Key Points

• 111 Capital has acquired a new stake in Tenet Healthcare Corporation, purchasing 1,387 shares valued at approximately $244,000 during the second quarter.
• Wall Street analysts are optimistic about Tenet Healthcare, with several firms raising their price targets, including JPMorgan Chase, Barclays, and Bank of America, which now have price targets ranging from $190.00 to $229.00.
• Insider activity has occurred with significant sales, including CEO Saumya Sutaria selling 78,762 shares for over $15 million, indicating a 17.60% decrease in his ownership.

111 Capital purchased a new stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,387 shares of the company's stock, valued at approximately $244,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Tenet Healthcare by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock worth $1,021,736,000 after acquiring an additional 463,552 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Tenet Healthcare by 348.4% during the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock worth $263,905,000 after purchasing an additional 1,524,642 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Tenet Healthcare by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock valued at $225,297,000 after purchasing an additional 181,667 shares in the last quarter. Nuveen LLC bought a new stake in Tenet Healthcare during the 1st quarter worth about $218,549,000. Finally, Boston Partners boosted its stake in shares of Tenet Healthcare by 692.9% during the 1st quarter. Boston Partners now owns 1,162,642 shares of the company's stock worth $156,318,000 after buying an additional 1,016,010 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on THC. JPMorgan Chase & Co. raised their price target on Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Barclays boosted their target price on shares of Tenet Healthcare from $208.00 to $229.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. Bank of America lifted their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $190.00 target price on shares of Tenet Healthcare in a report on Tuesday, August 26th. Finally, Mizuho boosted their price target on Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $196.81.

Tenet Healthcare Stock Down 1.5%

Tenet Healthcare stock opened at $199.86 on Tuesday. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $205.99. The stock has a market cap of $17.66 billion, a P/E ratio of 12.80, a P/E/G ratio of 0.87 and a beta of 1.52. The company's 50-day moving average price is $182.72 and its two-hundred day moving average price is $163.26. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39.

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

Insider Activity

In related news, Director Christopher S. Lynch sold 3,952 shares of the company'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 directly owned 12,358 shares in the company, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the completion of the sale, the chief executive officer owned 368,683 shares of the company's stock, valued at $70,337,342.74. This trade represents a 17.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,722 shares of company stock valued at $17,161,015. 0.81% of the stock is owned by company insiders.

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.

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