GDS Wealth Management Has $8.65 Million Holdings in Tenet Healthcare Corporation $THC

Key Points

• GDS Wealth Management increased its holdings in Tenet Healthcare Corporation by 66.7%, bringing their total shares to 64,331, valued at approximately $8.65 million.
• Multiple research analysts have raised their price targets for Tenet Healthcare, with Morgan Stanley increasing it to $210.00 and Truist Financial to $205.00, indicating strong market confidence.
• In the latest quarterly earnings report, Tenet Healthcare reported an EPS of $4.02, exceeding analysts' estimates significantly, while also realizing a 3.2% increase in revenue year-over-year.

GDS Wealth Management lifted its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 66.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,331 shares of the company's stock after buying an additional 25,735 shares during the quarter. GDS Wealth Management owned about 0.07% of Tenet Healthcare worth $8,653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Tenet Healthcare by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock valued at $225,297,000 after purchasing an additional 181,667 shares during the last quarter. Nuveen LLC acquired a new position in Tenet Healthcare during the 1st quarter valued at $218,549,000. Boston Partners raised its stake in Tenet Healthcare by 692.9% during the 1st quarter. Boston Partners now owns 1,162,642 shares of the company's stock valued at $156,318,000 after purchasing an additional 1,016,010 shares during the last quarter. AQR Capital Management LLC raised its stake in Tenet Healthcare by 20.8% during the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock valued at $110,087,000 after purchasing an additional 150,361 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Tenet Healthcare by 22.0% during the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company's stock valued at $107,049,000 after purchasing an additional 152,671 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 8,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were 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 $3,748,227.34. This represents a 27.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 836 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $173.16, for a total transaction of $144,761.76. Following the sale, the director directly owned 11,292 shares in the company, valued at approximately $1,955,322.72. This represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,989 shares of company stock worth $5,369,512. 0.81% of the stock is currently owned by insiders.

Tenet Healthcare Price Performance

Shares of THC traded up $2.18 during trading hours on Friday, hitting $179.57. The stock had a trading volume of 924,160 shares, compared to its average volume of 1,138,708. The company's fifty day moving average is $168.67 and its two-hundred day moving average is $149.61. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $185.25. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 0.76 and a beta of 1.52.

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, 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 business had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The firm's quarterly 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, analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on THC. Wolfe Research cut shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Mizuho increased their price objective on shares of Tenet Healthcare from $184.00 to $194.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. The Goldman Sachs Group increased their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. UBS Group increased their price objective on shares of Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Raymond James Financial restated an "outperform" rating and issued a $200.00 price objective (up previously from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $191.88.

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.