Gabelli Funds LLC Has $24 Million Stake in Tenet Healthcare Corporation $THC

Key Points

• Gabelli Funds LLC increased its stake in Tenet Healthcare Corporation by 2.2%, owning 178,450 shares valued at approximately $24 million after acquiring an additional 3,765 shares.
• Insider selling activity includes Director Christopher S. Lynch selling 3,952 shares, resulting in a 24.23% decrease in his ownership, with insiders having sold a total of 25,139 shares valued at approximately $4.4 million over the last quarter.
• Tenet Healthcare's stock price recently opened at $179.85 and the company reported a significant earnings beat with $4.02 earnings per share, ahead of analysts' estimates.

Gabelli Funds LLC increased its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,450 shares of the company's stock after purchasing an additional 3,765 shares during the quarter. Gabelli Funds LLC owned approximately 0.19% of Tenet Healthcare worth $24,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare during the 1st quarter valued at about $26,000. Wayfinding Financial LLC acquired a new stake in shares of Tenet Healthcare during the 1st quarter valued at about $28,000. SVB Wealth LLC acquired a new stake in shares of Tenet Healthcare during the 1st quarter valued at about $30,000. Colonial Trust Co SC lifted its holdings in shares of Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after buying an additional 114 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Tenet Healthcare during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Performance

NYSE THC traded down $0.41 during trading on Friday, hitting $184.12. The company's stock had a trading volume of 918,320 shares, compared to its average volume of 932,302. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. The firm has a 50 day moving average price of $170.19 and a 200 day moving average price of $151.21. The firm has a market cap of $16.27 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 0.79 and a beta of 1.52. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $185.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. The business had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.Tenet Healthcare's quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Equities research analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on THC shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $190.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, August 26th. Wolfe Research downgraded Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Bank of America raised their price objective on Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Wells Fargo & Company raised their price objective on Tenet Healthcare from $195.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, Morgan Stanley lifted their price target on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus target price of $192.69.

Insider Transactions at Tenet Healthcare

In other news, Director Christopher S. Lynch sold 3,952 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the sale, the director directly owned 12,358 shares in the company, valued at approximately $2,179,827.62. The trade was a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the sale, the executive vice president owned 20,878 shares in the company, valued at approximately $3,748,227.34. This 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 have sold 20,534 shares of company stock valued at $3,618,237. Company insiders own 0.81% of the company's stock.

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.