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Fox Run Management L.L.C. Trims Stock Holdings in Tenet Healthcare Corporation $THC

Tenet Healthcare logo with Medical background

Key Points

  • Fox Run Management L.L.C. reduced its stake in Tenet Healthcare by 52.7%, holding only 2,518 shares valued at $339,000 after selling 2,801 shares in the first quarter.
  • Tenet Healthcare's stock price increased by 3.4% to $177.10, while the company reported $4.02 EPS for the last quarter, exceeding analysts' estimates by $1.18.
  • Institutional investors own 95.44% of Tenet Healthcare, with several firms recently increasing their holdings, including Boston Partners, which boosted its stake by 692.9%.
  • Need better tools to track Tenet Healthcare? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Fox Run Management L.L.C. lowered its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 52.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,518 shares of the company's stock after selling 2,801 shares during the period. Fox Run Management L.L.C.'s holdings in Tenet Healthcare were worth $339,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Sit Investment Associates Inc. boosted its holdings in Tenet Healthcare by 1.4% in the 1st quarter. Sit Investment Associates Inc. now owns 40,675 shares of the company's stock worth $5,471,000 after buying an additional 580 shares during the last quarter. Boston Partners boosted its holdings 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 last quarter. Leith Wheeler Investment Counsel Ltd. boosted its holdings in shares of Tenet Healthcare by 5.4% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 67,794 shares of the company's stock worth $9,118,000 after purchasing an additional 3,478 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Tenet Healthcare by 34.3% in the first quarter. HighTower Advisors LLC now owns 8,742 shares of the company's stock valued at $1,176,000 after acquiring an additional 2,232 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Tenet Healthcare in the first quarter valued at approximately $218,549,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Up 3.4%

Tenet Healthcare stock opened at $177.10 on Wednesday. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $185.25. 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 stock has a market cap of $15.65 billion, a PE ratio of 11.34, a P/E/G ratio of 0.73 and a beta of 1.52. The stock's fifty day moving average is $167.70 and its two-hundred day moving average is $148.91.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The company had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. During the same period last year, the firm earned $2.31 earnings per share. Tenet Healthcare's quarterly 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. On average, sell-side analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director James L. Bierman sold 13,836 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $159.58, for a total transaction of $2,207,948.88. Following the transaction, the director owned 41,435 shares of the company's stock, valued at approximately $6,612,197.30. This trade represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 3,077 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total value of $509,920.44. Following the transaction, the director directly owned 12,128 shares in the company, valued at approximately $2,009,852.16. The trade was a 20.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,873 shares of company stock worth $5,444,128. 0.81% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on THC shares. Wells Fargo & Company boosted their target price on Tenet Healthcare from $195.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Guggenheim increased their price objective on Tenet Healthcare from $180.00 to $188.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Raymond James Financial reiterated an "outperform" rating and issued a $200.00 price objective (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Finally, The Goldman Sachs Group increased their price objective on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Tenet Healthcare has a consensus rating of "Moderate Buy" and a consensus target price of $191.88.

Read Our Latest Research Report on Tenet Healthcare

Tenet Healthcare Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding THC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenet Healthcare Corporation (NYSE:THC - Free Report).

Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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