GK Wealth Management LLC bought a new position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,320 shares of the company's stock, valued at approximately $232,000.
A number of other large investors have also recently made changes to their positions in THC. Nuveen LLC purchased a new stake in shares of Tenet Healthcare during the first quarter worth approximately $218,549,000. Ameriprise Financial Inc. boosted its holdings in Tenet Healthcare by 348.4% in the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock valued at $263,905,000 after purchasing an additional 1,524,642 shares in the last quarter. Boston Partners boosted its holdings in Tenet Healthcare by 692.9% in the first 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Tenet Healthcare by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock valued at $1,021,736,000 after purchasing an additional 463,552 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Tenet Healthcare by 111.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 469,529 shares of the company's stock valued at $63,152,000 after purchasing an additional 247,314 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.
Tenet Healthcare Stock Performance
Shares of Tenet Healthcare stock traded down $1.34 during trading hours on Friday, hitting $188.95. 276,762 shares of the company were exchanged, compared to its average volume of 1,494,456. The business has a 50-day moving average of $174.96 and a 200-day moving average of $156.62. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 0.79 and a beta of 1.55. 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 Corporation has a 1 year low of $109.82 and a 1 year high of $199.99.
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, topping the consensus estimate of $2.84 by $1.18. The firm had revenue of $5.27 billion during 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 revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages recently issued reports on THC. Morgan Stanley upped their price target on Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Bank of America boosted their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $190.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, August 26th. UBS Group boosted their price objective on 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 reiterated 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 given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average price target of $196.81.
View Our Latest Analysis on THC
Insiders Place Their Bets
In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total value of $697,093.28. Following the completion of the transaction, the director owned 12,358 shares in the company, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president owned 20,878 shares of the company's stock, valued at $3,748,227.34. The trade was a 27.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,722 shares of company stock worth $17,161,015. 0.81% of the stock is owned by corporate insiders.
Tenet Healthcare Company Profile
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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.
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