Empowered Funds LLC Raises Stock Holdings in Tenet Healthcare Corporation $THC

Key Points

• Empowered Funds LLC raised its holdings in Tenet Healthcare Corporation (NYSE: THC) by 19.6%, owning approximately $20.81 million worth of the company's stock as of the end of the first quarter.
• Insider selling has occurred recently, with Director Christopher S. Lynch and EVP Lisa Y. Foo both selling shares, resulting in decreases of 24.23% and 27.70% in their respective positions.
• Tenet Healthcare's stock has received positive analyst upgrades, with price targets increasing from $175.00 to as much as $210.00, reflecting a consensus rating of "Moderate Buy" among analysts.

Empowered Funds LLC grew its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 19.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,754 shares of the company's stock after acquiring an additional 25,323 shares during the period. Empowered Funds LLC owned about 0.17% of Tenet Healthcare worth $20,814,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total value of $1,436,240.00. Following the completion of the sale, the executive vice president owned 20,878 shares in the company, 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 11,960 shares of company stock valued at $2,134,801 in the last 90 days. 0.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on THC shares. Mizuho raised their price target on shares of Tenet Healthcare from $184.00 to $194.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Raymond James Financial restated 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. Guggenheim lifted their price objective on Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley upped their target price on Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $195.50.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock traded down $0.78 during trading hours on Friday, hitting $192.60. 889,220 shares of the company's stock traded hands, compared to its average volume of 1,506,589. 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 current ratio of 1.71 and a quick ratio of 1.63. The company has a fifty day simple moving average of $173.49 and a 200-day simple moving average of $154.64. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.82 and a beta of 1.55.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, topping the consensus estimate of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter last year, the company earned $2.31 earnings per share. The company's revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Equities research analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS 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.