Cinctive Capital Management LP Sells 12,562 Shares of Tenet Healthcare Corporation $THC

Key Points

• Cinctive Capital Management LP reduced its holdings in Tenet Healthcare by 64.6%, selling 12,562 shares and now owning 6,884 shares valued at $926,000.
• Tenet Healthcare reported earnings of $4.02 per share, surpassing analysts' expectations, with a quarterly revenue of $5.27 billion.
• Several analysts have raised their price targets for Tenet Healthcare, with JPMorgan increasing it from $190.00 to $200.00 and UBS raising theirs from $230.00 to $238.00.

Cinctive Capital Management LP lessened its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 64.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,884 shares of the company's stock after selling 12,562 shares during the period. Cinctive Capital Management LP's holdings in Tenet Healthcare were worth $926,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THC. Ameriprise Financial Inc. grew its stake in shares of Tenet Healthcare by 30.1% in the fourth quarter. Ameriprise Financial Inc. now owns 437,672 shares of the company's stock worth $55,244,000 after acquiring an additional 101,355 shares during the last quarter. BOKF NA grew its stake in shares of Tenet Healthcare by 22.0% in the fourth quarter. BOKF NA now owns 11,004 shares of the company's stock worth $1,408,000 after acquiring an additional 1,985 shares during the last quarter. Colonial Trust Co SC lifted its position in Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after purchasing an additional 114 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Tenet Healthcare by 408.7% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 24,235 shares of the company's stock worth $3,059,000 after purchasing an additional 19,471 shares during the period. Finally, Deutsche Bank AG lifted its position in Tenet Healthcare by 99.3% in the fourth quarter. Deutsche Bank AG now owns 76,048 shares of the company's stock worth $9,600,000 after purchasing an additional 37,890 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Stock Up 2.0%

NYSE THC traded up $3.88 during trading on Friday, hitting $196.40. The stock had a trading volume of 923,997 shares, compared to its average volume of 919,935. The company has a market capitalization of $17.35 billion, a PE ratio of 12.57, a P/E/G ratio of 0.84 and a beta of 1.55. The company's 50-day moving average price is $171.97 and its two-hundred day moving average price is $153.22. 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 Corporation has a 12 month low of $109.82 and a 12 month high of $196.73.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The company had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter in the prior year, the business posted $2.31 EPS. The business'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. As a group, sell-side analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 3,952 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the sale, the director directly owned 12,358 shares in the company, valued at $2,179,827.62. This represents a 24.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the completion of the transaction, the executive vice president owned 20,878 shares of the company's stock, valued at $3,748,227.34. This represents a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,960 shares of company stock valued at $2,134,801. 0.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Bank of America lifted their price target on Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Truist Financial lifted their price objective on Tenet Healthcare from $190.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Robert W. Baird lowered their price objective on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Wolfe Research lowered Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 28th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $190.00 target price on shares of Tenet Healthcare in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $192.69.

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.