Empowered Funds LLC Buys 25,323 Shares of 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 shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,754 shares of the company's stock after purchasing an additional 25,323 shares during the quarter. Empowered Funds LLC owned approximately 0.17% of Tenet Healthcare worth $20,814,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in Tenet Healthcare by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock valued at $1,021,736,000 after buying an additional 463,552 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Tenet Healthcare by 348.4% in the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock valued at $263,905,000 after purchasing an additional 1,524,642 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 worth $225,297,000 after acquiring an additional 181,667 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Tenet Healthcare during the first quarter worth $218,549,000. Finally, Boston Partners lifted its holdings in Tenet Healthcare by 692.9% in the first quarter. Boston Partners now owns 1,162,642 shares of the company's stock valued at $156,318,000 after acquiring an additional 1,016,010 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on THC. Bank of America lifted their price target on Tenet Healthcare from $205.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Wells Fargo & Company upped their price objective on Tenet Healthcare from $195.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. upped their target price on Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Stephens raised Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $195.50.

Insider Buying and Selling at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 78,762 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total value of $15,026,214.36. Following the completion of the sale, the chief executive officer directly owned 368,683 shares of the company's stock, valued at $70,337,342.74. The trade was a 17.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare stock in a transaction dated 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. This trade represents a 24.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,722 shares of company stock valued at $17,161,015. 0.81% of the stock is currently owned by corporate insiders.

Tenet Healthcare Trading Down 0.4%

Shares of NYSE:THC traded down $0.78 during midday trading on Friday, hitting $192.60. The company had a trading volume of 889,220 shares, compared to its average volume of 1,047,955. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $199.99. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The stock has a market cap of $17.02 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.83 and a beta of 1.55. The firm has a fifty day simple moving average of $173.91 and a 200 day simple moving average of $155.37.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. The company had revenue of $5.27 billion for the quarter, compared to analyst estimates 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 company posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current 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.