Campbell & CO Investment Adviser LLC Grows Position in Tenet Healthcare Corporation $THC

Key Points

• Campbell & CO Investment Adviser LLC increased its position in Tenet Healthcare Corporation by 121.9%, purchasing an additional 9,113 shares in the first quarter, bringing its total holdings to 16,590 shares valued at approximately $2.23 million.
• According to recent analyst reports, Truist Financial and Bank of America have both raised their price targets for Tenet Healthcare, with average price target now at $191.88 and a consensus rating of "Moderate Buy."
• Tenet Healthcare recently reported earnings per share (EPS) of $4.02 for the most recent quarter, surpassing analysts' estimates and showing a 3.2% year-over-year revenue increase to $5.27 billion.

Campbell & CO Investment Adviser LLC raised its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 121.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 16,590 shares of the company's stock after acquiring an additional 9,113 shares during the period. Campbell & CO Investment Adviser LLC's holdings in Tenet Healthcare were worth $2,231,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in THC. Mariner LLC lifted its stake in shares of Tenet Healthcare by 24.6% in the 4th quarter. Mariner LLC now owns 8,604 shares of the company's stock worth $1,086,000 after acquiring an additional 1,697 shares during the period. GeoWealth Management LLC lifted its stake in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after acquiring an additional 84 shares during the period. MML Investors Services LLC lifted its stake in shares of Tenet Healthcare by 69.0% in the fourth quarter. MML Investors Services LLC now owns 19,286 shares of the company's stock valued at $2,434,000 after purchasing an additional 7,877 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $420,000. Finally, MGO One Seven LLC lifted its stake in shares of Tenet Healthcare by 12.2% in the fourth quarter. MGO One Seven LLC now owns 2,014 shares of the company's stock valued at $254,000 after purchasing an additional 219 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Activity

In other news, Director Richard W. Fisher sold 836 shares of Tenet Healthcare stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.16, for a total transaction of $144,761.76. Following the completion of the sale, the director directly owned 11,292 shares in the company, valued at $1,955,322.72. The trade was a 6.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,534 shares of company stock valued at $3,618,237. 0.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on THC shares. Wall Street Zen upgraded shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Morgan Stanley raised their price objective on shares of Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. The Goldman Sachs Group raised their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Wells Fargo & Company raised their target price on shares of Tenet Healthcare from $195.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, August 4th. One 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $192.69.

Tenet Healthcare Trading Down 0.2%

Shares of NYSE THC traded down $0.41 during midday trading on Friday, reaching $184.12. 918,320 shares of the stock were exchanged, compared to its average volume of 932,302. The company has a market capitalization of $16.27 billion, a P/E ratio of 11.79, a P/E/G ratio of 0.79 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 stock has a 50 day moving average price of $170.19 and a 200-day moving average price of $151.21.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. The business had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The company's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 earnings per share. 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 earnings per share for the current fiscal year.

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.