Tenet Healthcare Corporation $THC Holdings Lowered by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd reduced its holdings in Tenet Healthcare Corporation by 83.2% in the first quarter, decreasing its total shares to 2,410, worth approximately $324,000.
• CEO Saumya Sutaria sold 78,762 shares of Tenet for over $15 million, marking a significant 17.60% decrease in his ownership, while insider sales over the past 90 days totaled 90,722 shares valued at approximately $17.2 million.
• Analyst upgrades for Tenet Healthcare include a price target increase from Morgan Stanley to $210.00, and the stock currently has an average rating of Moderate Buy with a price target of $195.50.

Dynamic Technology Lab Private Ltd lessened its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 83.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,410 shares of the company's stock after selling 11,950 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Tenet Healthcare were worth $324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Tenet Healthcare in the first quarter worth $26,000. Wayfinding Financial LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at about $28,000. SVB Wealth LLC acquired a new stake in Tenet Healthcare during the first quarter worth about $30,000. N.E.W. Advisory Services LLC bought a new position in Tenet Healthcare in the first quarter worth about $31,000. Finally, Brooklyn Investment Group grew its holdings in shares of Tenet Healthcare by 908.7% during the first quarter. Brooklyn Investment Group now owns 232 shares of the company's stock valued at $31,000 after purchasing an additional 209 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on THC shares. Barclays cut their price target on Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Robert W. Baird reduced their price target on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. UBS Group increased their price objective on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wolfe Research lowered shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Finally, Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. One 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. According to data from MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and a consensus target price of $195.50.

Insider Activity

In other news, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the transaction, the director owned 12,358 shares of the company's stock, valued at $2,179,827.62. The trade was a 24.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 20,878 shares of the company's stock, valued at approximately $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. Insiders sold a total of 90,722 shares of company stock worth $17,161,015 over the last 90 days. 0.81% of the stock is currently owned by company insiders.

Tenet Healthcare Price Performance

Shares of THC stock traded down $6.28 during midday trading on Monday, reaching $186.54. 1,735,548 shares of the company were exchanged, compared to its average volume of 1,047,955. The company's 50 day moving average price is $174.18 and its two-hundred day moving average price is $155.79. The company has a market cap of $16.48 billion, a P/E ratio of 11.94, a PEG ratio of 0.83 and a beta of 1.55. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $199.99. 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 (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. The business had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The business's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business earned $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, sell-side analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current 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.