Algert Global LLC Sells 52,542 Shares of Tenet Healthcare Corporation $THC

Key Points

• Algert Global LLC significantly reduced its holdings in Tenet Healthcare Corporation, selling 52,542 shares and decreasing its stake by 74.9% in the first quarter, leaving it with 17,589 shares valued at approximately $2.37 million.
• In the first quarter, multiple institutional investors increased their stakes in Tenet, including Dimensional Fund Advisors, which raised its position by 12.2% and now owns over 1.67 million shares worth approximately $225 million.
• Tenet Healthcare reported strong earnings for the quarter, with an EPS of $4.02, surpassing expectations, and set a guidance of $15.550 to $16.210 EPS for FY 2025.

Algert Global LLC cut its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 74.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,589 shares of the company's stock after selling 52,542 shares during the period. Algert Global LLC's holdings in Tenet Healthcare were worth $2,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in THC. Nuveen LLC acquired a new position in shares of Tenet Healthcare during the first quarter worth about $218,549,000. Boston Partners raised its stake in Tenet Healthcare by 692.9% in the first quarter. Boston Partners now owns 1,162,642 shares of the company's stock valued at $156,318,000 after buying an additional 1,016,010 shares during the period. Dimensional Fund Advisors LP raised its stake in Tenet Healthcare by 22.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after buying an additional 272,906 shares during the period. Victory Capital Management Inc. grew its position in shares of Tenet Healthcare by 45.2% in the first quarter. Victory Capital Management Inc. now owns 736,252 shares of the company's stock valued at $99,026,000 after purchasing an additional 229,197 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Tenet Healthcare by 17,134.3% in the first quarter. GAMMA Investing LLC now owns 192,335 shares of the company's stock valued at $25,869,000 after purchasing an additional 191,219 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 7,738 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the transaction, the executive vice president owned 20,110 shares of the company's stock, valued at $3,479,030. This trade represents a 27.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,139 shares of company stock worth $4,400,979. 0.81% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Up 0.1%

THC stock traded up $0.25 during mid-day trading on Tuesday, reaching $180.48. 257,024 shares of the company traded hands, compared to its average volume of 1,530,155. The stock has a market cap of $15.95 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 0.77 and a beta of 1.52. 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 Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $185.25. The firm's 50 day moving average price is $168.99 and its 200 day moving average price is $149.98.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. The business had revenue of $5.27 billion during 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 company's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, equities research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

THC has been the topic of several research reports. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Morgan Stanley increased their price target on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. increased their price target on Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wells Fargo & Company increased their price target on Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $200.00 price target (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.69.

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.