American Century Companies Inc. Sells 29,064 Shares of Tenet Healthcare Corporation $THC

Key Points

• American Century Companies Inc. has significantly reduced its holdings in Tenet Healthcare Corporation by 83.4%, now owning just 5,802 shares valued at approximately $780,000.
• Tenet Healthcare's stock experienced a 3.0% increase, with the market cap reaching $17.01 billion and a current share price of $192.50.
• The company reported strong quarterly earnings per share of $4.02, surpassing estimates by $1.18, and forecasted FY 2025 EPS guidance between $15.550 and $16.210.

American Century Companies Inc. lessened its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 83.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,802 shares of the company's stock after selling 29,064 shares during the quarter. American Century Companies Inc.'s holdings in Tenet Healthcare were worth $780,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Tenet Healthcare during the first quarter valued at approximately $218,549,000. Boston Partners grew its holdings in shares of Tenet Healthcare by 692.9% during 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 last quarter. Victory Capital Management Inc. grew its holdings in shares of Tenet Healthcare by 45.2% during the first quarter. Victory Capital Management Inc. now owns 736,252 shares of the company's stock valued at $99,026,000 after buying an additional 229,197 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Tenet Healthcare by 17,134.3% during the first quarter. GAMMA Investing LLC now owns 192,335 shares of the company's stock valued at $25,869,000 after buying an additional 191,219 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Tenet Healthcare by 12.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock valued at $225,297,000 after buying an additional 181,667 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock traded up $3.88 on Friday, hitting $196.40. 923,997 shares of the company's stock were exchanged, compared to its average volume of 910,441. The company has a 50-day simple moving average of $171.97 and a 200-day simple moving average of $153.11. The stock has a market capitalization of $17.35 billion, a PE ratio of 12.57, a PEG ratio of 0.84 and a beta of 1.55. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $196.73. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued 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 business had revenue of $5.27 billion for 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 was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Wall Street Analyst Weigh In

THC has been the topic of several research reports. Bank of America raised their target price on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Truist Financial raised their target price on shares of Tenet Healthcare from $190.00 to $205.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Wolfe Research cut shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th. Finally, Raymond James Financial restated an "outperform" rating and issued a $200.00 target price (up previously from $185.00) on shares of Tenet Healthcare in a report 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $192.69.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Christopher S. Lynch sold 3,952 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total transaction of $697,093.28. Following the sale, the director directly owned 12,358 shares in the company, valued at $2,179,827.62. This trade represents a 24.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Y. Foo sold 8,000 shares of the firm's stock in a transaction on 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 sale, the executive vice president owned 20,878 shares in the company, valued at $3,748,227.34. The trade was 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 11,960 shares of company stock worth $2,134,801 over the last 90 days. 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.