Foster & Motley Inc. Buys 4,181 Shares of Tenet Healthcare Corporation $THC

Key Points

• Foster & Motley Inc. has significantly increased its stake in Tenet Healthcare Corporation by 88.8%, acquiring an additional 4,181 shares during the second quarter, bringing its total ownership to 8,889 shares valued at approximately $1,564,000.
• Multiple brokerage firms have raised their price targets for Tenet Healthcare, with Goldman Sachs assigning a buy rating and a price objective of $224.00, contributing to a consensus price target of $209.25.
• Insider selling activity has been notable, with CEO Saumya Sutaria selling 78,762 shares valued at over $15 million, indicating a 17.60% decrease in their holdings.

Foster & Motley Inc. grew its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 88.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,889 shares of the company's stock after purchasing an additional 4,181 shares during the period. Foster & Motley Inc.'s holdings in Tenet Healthcare were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of THC. GAMMA Investing LLC grew its position in Tenet Healthcare by 28.1% during the 1st quarter. GAMMA Investing LLC now owns 1,430 shares of the company's stock worth $192,000 after acquiring an additional 314 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Tenet Healthcare during the 1st quarter worth approximately $1,986,000. QRG Capital Management Inc. grew its position in Tenet Healthcare by 7.8% during the 1st quarter. QRG Capital Management Inc. now owns 8,798 shares of the company's stock worth $1,183,000 after acquiring an additional 640 shares during the last quarter. State of Alaska Department of Revenue grew its position in Tenet Healthcare by 1.3% during the 1st quarter. State of Alaska Department of Revenue now owns 22,139 shares of the company's stock worth $2,977,000 after acquiring an additional 290 shares during the last quarter. Finally, Sivik Global Healthcare LLC boosted its position in Tenet Healthcare by 27.3% in the 1st quarter. Sivik Global Healthcare LLC now owns 70,000 shares of the company's stock valued at $9,415,000 after buying an additional 15,000 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on THC. JPMorgan Chase & Co. increased their price objective on Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Mizuho increased their price objective on Tenet Healthcare from $194.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday. The Goldman Sachs Group began coverage on Tenet Healthcare in a research report on Tuesday. They issued a "buy" rating and a $224.00 price objective on the stock. UBS Group increased their price objective on Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Truist Financial set a $225.00 price target on Tenet Healthcare in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $209.25.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $199.89 on Friday. The company has a market capitalization of $17.66 billion, a PE ratio of 12.80, a PEG ratio of 0.86 and a beta of 1.52. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $207.14. 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's fifty day simple moving average is $189.23 and its 200 day simple moving average is $167.02.

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

Insider Buying and Selling

In other Tenet Healthcare news, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the completion of the transaction, the chief executive officer owned 368,683 shares in the company, valued at approximately $70,337,342.74. This represents a 17.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the stock in a transaction dated 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 transaction, 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 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 owned by company insiders.

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.

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