EP Wealth Advisors LLC Makes New Investment in Tenet Healthcare Corporation $THC

Key Points

• EP Wealth Advisors LLC has initiated a new investment in Tenet Healthcare Corporation, acquiring 2,429 shares worth approximately $327,000 during the first quarter of the year.
• Insider trading activity included significant sales by Director Christopher S. Lynch and EVP Lisa Y. Foo, reducing their respective holdings by 24.23% and 27.70%.
• Several analysts have recently raised their price targets for Tenet Healthcare, with Truist Financial increasing theirs from $190 to $205, reflecting strong confidence in the company’s future performance.

EP Wealth Advisors LLC bought a new position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,429 shares of the company's stock, valued at approximately $327,000.

Other large investors have also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Tenet Healthcare in the first quarter valued at $26,000. Wayfinding Financial LLC purchased a new position in shares of Tenet Healthcare during the first quarter worth about $28,000. SVB Wealth LLC acquired a new position in Tenet Healthcare in the 1st quarter valued at about $30,000. N.E.W. Advisory Services LLC acquired a new stake in Tenet Healthcare during the 1st quarter worth approximately $31,000. Finally, Brooklyn Investment Group grew 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 purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Buying and Selling

In related news, Director Christopher S. Lynch sold 3,952 shares of the business's 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 completion of the transaction, the director owned 12,358 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the sale, the executive vice president owned 20,878 shares of the company's stock, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,960 shares of company stock worth $2,134,801. 0.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Tenet Healthcare from $190.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased their price target on shares of Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Guggenheim raised their price target on Tenet Healthcare from $180.00 to $188.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Stephens raised Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $192.69.

Tenet Healthcare Trading Down 2.1%

Shares of THC stock opened at $192.15 on Tuesday. The stock has a market cap of $16.98 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.84 and a beta of 1.55. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $196.73. The business has a fifty day simple moving average of $172.29 and a 200-day simple moving average of $153.66.

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, beating 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 period last year, the firm posted $2.31 EPS. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, analysts forecast 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.

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