Estate Counselors LLC Makes New $4.67 Million Investment in Tenet Healthcare Corporation $THC

Key Points

• Estate Counselors LLC acquired 34,690 shares of Tenet Healthcare Corporation ($THC) valued at approximately $4.67 million, making it the firm's 26th largest holding.
• Tenet Healthcare reported earnings of $4.02 per share for the last quarter, exceeding analysts' expectations, and anticipates a FY 2025 guidance of 15.550-16.210 EPS.
• Major investments from other hedge funds, such as Nuveen LLC’s $218.5 million purchase, indicate strong institutional interest in Tenet Healthcare, which is now 95.44% owned by institutional investors.

Estate Counselors LLC bought a new position in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 34,690 shares of the company's stock, valued at approximately $4,666,000. Tenet Healthcare comprises about 0.5% of Estate Counselors LLC's holdings, making the stock its 26th largest position.

A number of other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Tenet Healthcare by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock worth $1,021,736,000 after buying an additional 463,552 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Tenet Healthcare by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock worth $225,297,000 after buying an additional 181,667 shares during the last quarter. Nuveen LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth about $218,549,000. Boston Partners boosted its stake 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 purchasing an additional 1,016,010 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Tenet Healthcare by 20.8% during the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock worth $110,087,000 after purchasing an additional 150,361 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Insider Transactions at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 7,738 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the sale, the executive vice president owned 20,110 shares of the company's stock, valued at approximately $3,479,030. This represents a 27.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James L. Bierman sold 4,613 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $170.00, for a total transaction of $784,210.00. Following the completion of the sale, the director directly owned 35,271 shares of the company's stock, valued at $5,996,070. The trade was a 11.57% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,989 shares of company stock worth $5,369,512. Insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on THC. Guggenheim lifted their price target on shares of Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Stephens raised shares of Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. UBS Group lifted their price target on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Truist Financial upped their target price on shares of Tenet Healthcare from $190.00 to $205.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Mizuho upped their target price on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. One equities 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $191.88.

Tenet Healthcare Stock Up 1.2%

Shares of THC traded up $2.18 during mid-day trading on Friday, hitting $179.57. The company's stock had a trading volume of 924,160 shares, compared to its average volume of 1,138,708. The company's 50-day moving average is $168.67 and its 200-day moving average is $149.64. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $185.25. The firm has a market capitalization of $15.87 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.77 and a beta of 1.52. 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 announced its quarterly 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 analysts' expectations of $5.16 billion. During the same quarter in the prior year, the company earned $2.31 EPS. The company's revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, equities research analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS 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.