Aristeia Capital L.L.C. Decreases Stock Position in Tenet Healthcare Corporation $THC

Key Points

• Aristeia Capital L.L.C. has reduced its stake in Tenet Healthcare Corporation by 41.4%, now holding 3,977 shares valued at approximately $535,000.
• Several hedge funds have increased their stakes in Tenet Healthcare, with Ameriprise Financial growing its position by 30.1% last quarter, bringing its total to 437,672 shares valued at around $55 million.
• Insider trading activity was noted, including Lisa Y. Foo selling 8,000 shares at an average price of $179.53, resulting in a 27.70% decrease in her holdings.

Aristeia Capital L.L.C. lessened its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 41.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,977 shares of the company's stock after selling 2,814 shares during the quarter. Aristeia Capital L.L.C.'s holdings in Tenet Healthcare were worth $535,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of THC. Ameriprise Financial Inc. grew its stake in Tenet Healthcare by 30.1% during the 4th quarter. Ameriprise Financial Inc. now owns 437,672 shares of the company's stock valued at $55,244,000 after purchasing an additional 101,355 shares in the last quarter. Colonial Trust Co SC grew its stake in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Tenet Healthcare by 408.7% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 24,235 shares of the company's stock valued at $3,059,000 after purchasing an additional 19,471 shares in the last quarter. Deutsche Bank AG grew its stake in Tenet Healthcare by 99.3% during the 4th quarter. Deutsche Bank AG now owns 76,048 shares of the company's stock valued at $9,600,000 after purchasing an additional 37,890 shares in the last quarter. Finally, Ethic Inc. grew its stake in Tenet Healthcare by 236.3% during the 4th quarter. Ethic Inc. now owns 6,934 shares of the company's stock valued at $875,000 after purchasing an additional 4,872 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Activity at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 8,000 shares of the firm's 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 sale, the executive vice president owned 20,878 shares of the company's stock, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher S. Lynch sold 3,952 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the completion of the sale, the director owned 12,358 shares in the company, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,960 shares of company stock worth $2,134,801. Company insiders own 0.81% of the company's stock.

Tenet Healthcare Trading Up 2.0%

Shares of NYSE THC opened at $196.40 on Monday. The company has a market cap of $17.35 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.84 and a beta of 1.55. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $196.73. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The stock's 50 day simple moving average is $171.97 and its 200 day simple moving average is $153.22.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) 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 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 business's revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Equities research analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lowered their price objective on Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Stephens raised Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. UBS Group increased their target price on Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $190.00 target price on shares of Tenet Healthcare in a report on Tuesday, August 26th. Finally, Wolfe Research downgraded Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average 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.

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