Alliancebernstein L.P. Has $22.34 Million Holdings in Tenet Healthcare Corporation $THC

Key Points

• Alliancebernstein L.P. has increased its ownership in Tenet Healthcare Corporation by 6.6%, acquiring an additional 10,357 shares, bringing its total stake to 166,129 shares valued at approximately $22.3 million.
• Several institutional investors made significant changes to their positions in Tenet Healthcare during the 1st quarter, with Ameriprise Financial increasing its holdings by 348.4% and Boston Partners by 692.9%.
• Despite recent fluctuations, Tenet Healthcare's stock received a mix of ratings from analysts, with one upgrade to a strong-buy and an average target price set at $195.50.

Alliancebernstein L.P. lifted its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 6.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 166,129 shares of the company's stock after buying an additional 10,357 shares during the quarter. Alliancebernstein L.P. owned about 0.18% of Tenet Healthcare worth $22,344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Tenet Healthcare by 3.6% during the first quarter. AQR Capital Management LLC now owns 903,270 shares of the company's stock worth $118,861,000 after buying an additional 31,153 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Tenet Healthcare by 111.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 469,529 shares of the company's stock worth $63,152,000 after purchasing an additional 247,314 shares during the period. EP Wealth Advisors LLC bought a new position in shares of Tenet Healthcare in the first quarter worth $327,000. Maverick Capital Ltd. increased its position in shares of Tenet Healthcare by 135.5% in the first quarter. Maverick Capital Ltd. now owns 6,729 shares of the company's stock worth $905,000 after purchasing an additional 3,872 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Tenet Healthcare by 34.0% in the first quarter. Royal Bank of Canada now owns 119,349 shares of the company's stock worth $16,052,000 after purchasing an additional 30,281 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Buying and Selling

In related news, 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 value of $697,093.28. Following the transaction, the director directly owned 12,358 shares of the company's stock, valued at $2,179,827.62. The trade was a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total value 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 approximately $3,748,227.34. This represents a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,722 shares of company stock valued at $17,161,015 over the last ninety days. 0.81% of the stock is owned by company insiders.

Tenet Healthcare Trading Down 2.2%

Shares of NYSE:THC traded down $4.02 during midday trading on Tuesday, hitting $182.73. 1,312,703 shares of the stock were exchanged, compared to its average volume of 1,090,876. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 0.80 and a beta of 1.55. 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 business's 50-day moving average price is $174.38 and its 200 day moving average price is $155.98. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $199.99.

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 for the quarter, topping the consensus estimate of $2.84 by $1.18. The company had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The business's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Guggenheim raised their price target on Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Robert W. Baird decreased their price target on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Barclays decreased their target price on Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Tenet Healthcare presently has an average rating of "Moderate Buy" and a consensus target price of $195.50.

Tenet Healthcare Company 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.