9,945 Shares in Tenet Healthcare Corporation $THC Purchased by CreativeOne Wealth LLC

Key Points

• CreativeOne Wealth LLC has made a new investment of approximately $1.34 million in Tenet Healthcare Corporation by acquiring 9,945 shares.
• Tenet Healthcare reported earnings of $4.02 per share for the last quarter, significantly surpassing analysts' expectations and reflecting a 3.2% increase in revenue year-over-year.
• Following insider transactions, which saw executives selling a substantial amount of stock, only 0.81% of the stock is currently owned by company insiders.

CreativeOne Wealth LLC acquired a new position in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,945 shares of the company's stock, valued at approximately $1,338,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Tenet Healthcare in the first quarter worth approximately $26,000. Wayfinding Financial LLC purchased a new position in Tenet Healthcare during the first quarter valued at approximately $28,000. SVB Wealth LLC purchased a new position in Tenet Healthcare during the first quarter valued at approximately $30,000. Colonial Trust Co SC lifted its holdings in 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 purchasing an additional 114 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in Tenet Healthcare during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Activity at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 8,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the completion of the sale, the executive vice president directly owned 20,878 shares of the company's stock, valued at approximately $3,748,227.34. The trade was a 27.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard W. Fisher sold 836 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total transaction of $144,761.76. Following the sale, the director directly owned 11,292 shares of the company's stock, valued at $1,955,322.72. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,534 shares of company stock valued at $3,618,237 over the last ninety days. Company insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

THC has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $190.00 price target on shares of Tenet Healthcare in a report on Tuesday, August 26th. Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Wolfe Research downgraded shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th. Stephens raised shares of Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Finally, Raymond James Financial reissued an "outperform" rating and issued a $200.00 target price (up previously from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $192.69.

Tenet Healthcare Price Performance

THC traded up $0.82 during trading hours on Tuesday, hitting $185.15. The company's stock had a trading volume of 952,197 shares, compared to its average volume of 1,519,180. The business's 50-day moving average price is $170.49 and its 200-day moving average price is $151.69. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $186.05. The stock has a market cap of $16.36 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.79 and a beta of 1.55. 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 posted 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. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The business had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter in the previous year, the business posted $2.31 earnings per share. 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. Sell-side analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

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.