Tenet Healthcare Corporation $THC Shares Acquired by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec significantly increased its holdings in Tenet Healthcare Corporation by 92.3%, acquiring an additional 78,792 shares and bringing its total to 164,192 shares valued at approximately $22 million.
• Tenet Healthcare's recent quarterly earnings report revealed an EPS of $4.02, surpassing the consensus estimate of $2.84, with a revenue increase of 3.2% year-over-year to $5.27 billion.
• Several analysts have upgraded their price targets for Tenet Healthcare, with Morgan Stanley raising theirs from $175.00 to $210.00 and maintaining an "overweight" rating.

Caisse DE Depot ET Placement DU Quebec increased its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 92.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 164,192 shares of the company's stock after buying an additional 78,792 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.18% of Tenet Healthcare worth $22,084,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. US Bancorp DE boosted its holdings in Tenet Healthcare by 0.8% in the 1st quarter. US Bancorp DE now owns 8,620 shares of the company's stock worth $1,159,000 after buying an additional 68 shares during the period. Lindbrook Capital LLC increased its holdings in Tenet Healthcare by 5.3% in the 1st quarter. Lindbrook Capital LLC now owns 1,427 shares of the company's stock valued at $192,000 after acquiring an additional 72 shares during the last quarter. Covestor Ltd increased its holdings in Tenet Healthcare by 10.4% in the 1st quarter. Covestor Ltd now owns 873 shares of the company's stock valued at $117,000 after acquiring an additional 82 shares during the last quarter. Colonial Trust Co SC increased its holdings in Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after acquiring an additional 114 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Tenet Healthcare by 24.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 585 shares of the company's stock valued at $78,000 after acquiring an additional 114 shares during the last quarter. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Down 0.2%

Shares of THC traded down $0.41 during mid-day trading on Friday, hitting $184.12. The company's stock had a trading volume of 918,320 shares, compared to its average volume of 932,302. The company's 50-day moving average is $170.19 and its 200-day moving average is $151.21. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $185.25. The firm has a market capitalization of $16.27 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 0.79 and a beta of 1.52. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39.

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 for the quarter, topping the consensus estimate of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter in the prior year, the company earned $2.31 EPS. The company's revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, equities research analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Analyst Ratings Changes

THC has been the topic of a number of research reports. Mizuho boosted their target price on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. UBS Group boosted their target price on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Robert W. Baird dropped their price target on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Finally, Morgan Stanley lifted their price target on shares of Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $192.69.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 7,738 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the sale, the executive vice president owned 20,110 shares of the company's stock, valued at approximately $3,479,030. This represents a 27.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the business'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 transaction of $1,436,240.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 20,534 shares of company stock worth $3,618,237 over the last quarter. 0.81% of the stock is currently owned by company insiders.

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.