Brandywine Global Investment Management LLC Acquires 43,648 Shares of Tenet Healthcare Corporation $THC

Key Points

• Brandywine Global Investment Management LLC increased its holdings in Tenet Healthcare by 84.5%, purchasing an additional 43,648 shares, bringing its total to 95,329 shares valued at approximately $12.82 million.
• Tenet Healthcare recently reported impressive Q2 earnings with $4.02 EPS, exceeding analyst expectations and a year-over-year revenue growth of 3.2% to reach $5.27 billion.
• Analysts' price targets for Tenet Healthcare have varied, with Morgan Stanley raising their target from $175 to $210, while several others also adjusted their targets amidst overall positive sentiment for the stock.

Brandywine Global Investment Management LLC boosted its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 84.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 95,329 shares of the company's stock after acquiring an additional 43,648 shares during the period. Brandywine Global Investment Management LLC owned 0.10% of Tenet Healthcare worth $12,822,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Tenet Healthcare during the first quarter valued at about $26,000. Wayfinding Financial LLC bought a new stake in shares of Tenet Healthcare during the first quarter valued at about $28,000. N.E.W. Advisory Services LLC bought a new stake in shares of Tenet Healthcare during the first quarter valued at about $31,000. Colonial Trust Co SC increased its position in shares of Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after buying an additional 114 shares during the period. Finally, GeoWealth Management LLC increased its position in shares of Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after buying an additional 84 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Trading Down 0.4%

Shares of NYSE:THC traded down $0.64 during trading on Thursday, reaching $181.30. 238,733 shares of the company traded hands, compared to its average volume of 1,540,385. The firm has a market capitalization of $16.02 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 0.76 and a beta of 1.52. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $185.25. 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 business's fifty day moving average is $168.12 and its 200-day moving average is $149.13.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data 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 firm 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 business's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on THC shares. Mizuho upped their price objective on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. Raymond James Financial restated an "outperform" rating and issued a $200.00 price objective (up from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Truist Financial upped their price objective on shares of Tenet Healthcare from $190.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $191.88.

Insider Buying and Selling

In related news, EVP Paola M. Arbour sold 7,738 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the completion of the transaction, the executive vice president owned 20,110 shares in the company, valued at $3,479,030. This represents a 27.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Robert Kerrey sold 1,222 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total value of $201,581.12. Following the transaction, the director owned 22,377 shares of the company's stock, valued at approximately $3,691,309.92. This represents a 5.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,873 shares of company stock worth $5,444,128. 0.81% of the stock is owned by company insiders.

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.