Gradient Investments LLC Invests $1.63 Million in Tenet Healthcare Corporation $THC

Key Points

• Gradient Investments purchased 8,711 Tenet Healthcare shares worth approximately $1.63 million in the second quarter. Institutional investors collectively own 95.44% of the company.
• Analysts remain broadly positive, with 17 Buy ratings and three Holds; the stock has an average price target of $271, slightly above its $262.75 opening price.
• Tenet reported quarterly EPS of $6.12, beating estimates of $4.26, while revenue reached $6.04 billion and increased 6.8% year over year.

Gradient Investments LLC purchased a new position in Tenet Healthcare Corporation (NYSE:THC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,711 shares of the company's stock, valued at approximately $1,630,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of THC. Norges Bank bought a new position in shares of Tenet Healthcare during the fourth quarter valued at approximately $248,494,000. Wellington Management Group LLP grew its stake in shares of Tenet Healthcare by 1,114.2% in the 4th quarter. Wellington Management Group LLP now owns 1,135,801 shares of the company's stock worth $225,706,000 after buying an additional 1,042,260 shares during the last quarter. Boston Partners increased its position in Tenet Healthcare by 38.8% during the 3rd quarter. Boston Partners now owns 3,147,555 shares of the company's stock valued at $638,958,000 after buying an additional 880,413 shares in the last quarter. AQR Capital Management LLC raised its stake in Tenet Healthcare by 62.3% during the third quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company's stock valued at $380,989,000 after buying an additional 720,160 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Tenet Healthcare by 375.7% in the second quarter. Alliancebernstein L.P. now owns 790,254 shares of the company's stock worth $139,085,000 after acquiring an additional 624,125 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on THC shares. TD Cowen raised their price target on Tenet Healthcare from $233.00 to $263.00 and gave the company a "buy" rating in a report on Monday, July 27th. Guggenheim increased their price objective on shares of Tenet Healthcare from $242.00 to $283.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Tenet Healthcare in a report on Monday, July 27th. Barclays upped their target price on shares of Tenet Healthcare from $240.00 to $271.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Finally, Weiss Ratings downgraded shares of Tenet Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, June 2nd. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $271.00.

Tenet Healthcare Stock Up 0.2%

THC opened at $262.75 on Monday. The stock has a market capitalization of $21.16 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 1.00 and a beta of 1.23. The firm has a 50 day moving average price of $200.19 and a 200-day moving average price of $201.43. Tenet Healthcare Corporation has a twelve month low of $157.58 and a twelve month high of $265.32. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.00.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.26 by $1.86. The company had revenue of $6.04 billion for the quarter, compared to analysts' expectations of $5.43 billion. Tenet Healthcare had a net margin of 10.27% and a return on equity of 26.76%. The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $4.02 earnings per share. Tenet Healthcare has set its FY 2026 guidance at 20.300-21.690 EPS. Equities research analysts forecast that Tenet Healthcare Corporation will post 21.09 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Lisa Y. Foo sold 10,000 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $258.03, for a total transaction of $2,580,300.00. Following the completion of the sale, the executive vice president owned 32,053 shares of the company's stock, valued at $8,270,635.59. The trade was a 23.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J Robert Kerrey sold 5,638 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $174.52, for a total value of $983,943.76. Following the transaction, the director owned 16,804 shares of the company's stock, valued at approximately $2,932,634.08. This trade represents a 25.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,953 shares of company stock valued at $7,841,125 in the last 90 days. 0.97% of the stock is owned by insiders.

Tenet Healthcare Profile

Tenet Healthcare Corporation NYSE: THC is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet's operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.

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