Alliancebernstein L.P. Buys 10,357 Shares of 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. raised its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,129 shares of the company's stock after acquiring an additional 10,357 shares during the period. Alliancebernstein L.P. owned about 0.18% of Tenet Healthcare worth $22,344,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in THC. Nuveen LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter valued at $218,549,000. Ameriprise Financial Inc. increased its position in shares of Tenet Healthcare by 348.4% during the 1st quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock valued at $263,905,000 after purchasing an additional 1,524,642 shares during the last quarter. Boston Partners increased its position 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 valued at $156,318,000 after purchasing an additional 1,016,010 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $1,021,736,000 after purchasing an additional 463,552 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Tenet Healthcare by 111.3% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 469,529 shares of the company's stock valued at $63,152,000 after purchasing an additional 247,314 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on THC shares. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Wolfe Research lowered Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th. Robert W. Baird decreased their price objective on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Guggenheim lifted their price objective on Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley lifted their price objective on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $195.50.

Tenet Healthcare Stock Down 2.5%

THC stock opened at $191.48 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $16.92 billion, a PE ratio of 12.26, a PEG ratio of 0.84 and a beta of 1.55. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $199.99. The stock has a 50-day simple moving average of $173.05 and a two-hundred day simple moving average of $154.22.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, equities analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare 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 sale, the executive vice president owned 20,878 shares in the company, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare 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 sale, the director owned 12,358 shares of the company's stock, valued at approximately $2,179,827.62. This trade represents a 24.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,960 shares of company stock valued at $2,134,801. Corporate 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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