Aberdeen Group plc Has $10.49 Million Stock Holdings in Tenet Healthcare Corporation $THC

Key Points

• Aberdeen Group plc reduced its stake in Tenet Healthcare Corporation by 39.3%, now owning approximately 0.06% of the company, valued at $10.49 million as of the most recent filing.
• Analysts have a generally positive outlook for Tenet Healthcare, with an average rating of "Moderate Buy" and a price target of $207.31, amid recent adjustments from firms like KeyCorp and JP Morgan.
• In the most recent quarter, Tenet Healthcare reported a notable earnings per share (EPS) of $4.02, surpassing analysts' estimates and reflecting a 3.2% year-over-year revenue increase.

Aberdeen Group plc cut its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 39.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,609 shares of the company's stock after selling 38,620 shares during the quarter. Aberdeen Group plc owned approximately 0.06% of Tenet Healthcare worth $10,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Tenet Healthcare in the first quarter worth $26,000. Wayfinding Financial LLC bought a new stake in Tenet Healthcare in the first quarter worth $28,000. SVB Wealth LLC bought a new stake in Tenet Healthcare in the first quarter worth $30,000. N.E.W. Advisory Services LLC bought a new stake in Tenet Healthcare in the first quarter worth $31,000. Finally, Brooklyn Investment Group boosted its holdings in Tenet Healthcare by 908.7% in the first quarter. Brooklyn Investment Group now owns 232 shares of the company's stock worth $31,000 after purchasing an additional 209 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on THC. Cantor Fitzgerald reiterated an "overweight" rating and issued a $190.00 price objective on shares of Tenet Healthcare in a report on Tuesday, October 7th. Robert W. Baird decreased their price target on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. KeyCorp upped their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. UBS Group upped their price target on shares of Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, August 4th. One investment 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 company's stock. According to MarketBeat.com, Tenet Healthcare presently has an average rating of "Moderate Buy" and an average price target of $207.31.

Tenet Healthcare Stock Up 1.0%

Shares of THC opened at $198.35 on Thursday. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $207.14. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. The firm has a market capitalization of $17.52 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.84 and a beta of 1.52. The company has a 50-day simple moving average of $187.83 and a 200-day simple moving average of $165.92.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced 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. The firm had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The company's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, equities research analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 8,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were 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 owned 20,878 shares in the company, valued at $3,748,227.34. This trade represents a 27.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saumya Sutaria sold 78,762 shares of the firm's 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 transaction, the chief executive officer owned 368,683 shares of the company's stock, valued at approximately $70,337,342.74. This represents a 17.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,722 shares of company stock worth $17,161,015 over the last quarter. Company insiders own 0.81% of the company's stock.

About Tenet Healthcare

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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