Corebridge Financial Inc. Has $14.13 Million Stock Holdings in Tenet Healthcare Corporation $THC

Key Points

• Corebridge Financial Inc. reduced its stake in Tenet Healthcare by 2.4%, now owning approximately 0.11% of the company, valued at about $14.1 million.
• Tenet Healthcare reported earnings of $4.02 per share for the last quarter, significantly exceeding analyst estimates of $2.84, with revenue also surpassing expectations at $5.27 billion.
• Analysts have a consensus rating of "Moderate Buy" for Tenet Healthcare, with an average price target of $192.69, indicating potential growth for the stock.

Corebridge Financial Inc. decreased its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,038 shares of the company's stock after selling 2,567 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Tenet Healthcare worth $14,128,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. MML Investors Services LLC increased its holdings in Tenet Healthcare by 69.0% during the fourth quarter. MML Investors Services LLC now owns 19,286 shares of the company's stock worth $2,434,000 after buying an additional 7,877 shares during the last quarter. MGO One Seven LLC increased its holdings in Tenet Healthcare by 12.2% during the fourth quarter. MGO One Seven LLC now owns 2,014 shares of the company's stock worth $254,000 after buying an additional 219 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Tenet Healthcare during the fourth quarter worth $422,000. Two Sigma Securities LLC increased its holdings in Tenet Healthcare by 136.0% during the fourth quarter. Two Sigma Securities LLC now owns 1,586 shares of the company's stock worth $200,000 after buying an additional 5,986 shares during the last quarter. Finally, Quarry LP increased its holdings in Tenet Healthcare by 49.9% during the fourth quarter. Quarry LP now owns 790 shares of the company's stock worth $100,000 after buying an additional 263 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analyst Weigh In

THC has been the topic of a number of recent analyst reports. Wolfe Research downgraded shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Raymond James Financial reaffirmed an "outperform" rating and set a $200.00 price target (up previously from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. UBS Group raised their price target on Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Robert W. Baird cut their price target on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $192.69.

Insider Buying and Selling

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total value of $697,093.28. Following the sale, the director owned 12,358 shares of the company's stock, valued at approximately $2,179,827.62. This trade represents a 24.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paola M. Arbour sold 7,738 shares of the firm's stock in a transaction 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 directly owned 20,110 shares in the company, valued at approximately $3,479,030. This represents a 27.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,534 shares of company stock valued at $3,618,237 over the last 90 days. 0.81% of the stock is currently owned by insiders.

Tenet Healthcare Stock Performance

NYSE THC traded down $0.41 on Monday, reaching $184.12. The stock had a trading volume of 918,320 shares, compared to its average volume of 925,333. The company has a market cap of $16.27 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 0.79 and a beta of 1.55. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. The firm has a fifty day moving average of $170.49 and a two-hundred day moving average of $151.69. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $185.25.

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

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.