Credit Agricole S A Has $864,000 Stake in Tenet Healthcare Corporation $THC

Key Points

• Credit Agricole S A increased its stake in Tenet Healthcare by 111.2%, now holding 6,423 shares worth approximately $864,000 as of its latest SEC filing.
• Insider transactions indicate significant share sales, with Director Richard W. Fisher selling 836 shares and EVP Paola M. Arbour selling 7,738 shares, representing decreases in their ownership of the stock.
• Analysts have raised their price targets for Tenet Healthcare, with Morgan Stanley increasing its target from $175 to $210, reflecting a generally positive outlook with many analysts assigning a "Buy" rating.

Credit Agricole S A increased its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 111.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,423 shares of the company's stock after purchasing an additional 3,382 shares during the quarter. Credit Agricole S A's holdings in Tenet Healthcare were worth $864,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Tenet Healthcare by 12.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock valued at $225,297,000 after acquiring an additional 181,667 shares during the period. Nuveen LLC acquired a new position in Tenet Healthcare during the 1st quarter valued at about $218,549,000. Boston Partners grew its position in shares of Tenet Healthcare by 692.9% during the 1st quarter. Boston Partners now owns 1,162,642 shares of the company's stock worth $156,318,000 after buying an additional 1,016,010 shares during the period. AQR Capital Management LLC lifted its holdings in Tenet Healthcare by 20.8% in the fourth quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock valued at $110,087,000 after buying an additional 150,361 shares during the period. Finally, Northern Trust Corp raised its position in shares of Tenet Healthcare by 22.0% during the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company's stock valued at $107,049,000 after acquiring an additional 152,671 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Richard W. Fisher sold 836 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total value of $144,761.76. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher S. Lynch sold 3,952 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the transaction, the director owned 12,358 shares in the company, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,534 shares of company stock worth $3,618,237 in the last three months. 0.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on THC. Mizuho increased their target price on Tenet Healthcare from $184.00 to $194.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Guggenheim increased their price target on shares of Tenet Healthcare from $180.00 to $188.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $190.00 target price on shares of Tenet Healthcare in a report on Tuesday, August 26th. Wall Street Zen upgraded shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, Wolfe Research downgraded Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. One research 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $192.69.

Tenet Healthcare Stock Down 0.2%

Shares of NYSE:THC traded down $0.41 during trading on Friday, hitting $184.12. 918,320 shares of the company were exchanged, compared to its average volume of 925,333. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 0.79 and a beta of 1.55. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $185.25. The firm has a fifty day moving average price of $170.19 and a two-hundred day moving average price of $151.34. 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 issued its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. The business had revenue of $5.27 billion for 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 firm's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, research analysts anticipate 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.