Hancock Whitney Corp Purchases 17,036 Shares of Tenet Healthcare Corporation $THC

Key Points

• Hancock Whitney Corp increased its stake in Tenet Healthcare Corporation by 20.8%, acquiring an additional 17,036 shares during the first quarter, bringing its total to approximately 98,882 shares valued at $13.3 million.
• Several institutional investors have been active in Tenet Healthcare's stock, with 95.44% of shares currently held by institutional investors, indicating strong confidence in the company.
• The company's recent quarterly earnings exceeded expectations, reporting an EPS of $4.02, surpassing estimates by $1.18, and a revenue increase of 3.2% year-on-year.

Hancock Whitney Corp raised its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 20.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,882 shares of the company's stock after acquiring an additional 17,036 shares during the quarter. Hancock Whitney Corp owned approximately 0.11% of Tenet Healthcare worth $13,300,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Tenet Healthcare during the first quarter valued at approximately $26,000. Wayfinding Financial LLC purchased a new stake in shares of Tenet Healthcare in the 1st quarter worth about $28,000. SVB Wealth LLC purchased a new position in shares of Tenet Healthcare during the first quarter valued at about $30,000. N.E.W. Advisory Services LLC bought a new position in Tenet Healthcare in the first quarter worth $31,000. Finally, Brooklyn Investment Group boosted its holdings in shares of Tenet Healthcare by 908.7% during the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company's stock valued at $31,000 after buying an additional 209 shares in the last quarter. Institutional investors own 95.44% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Tenet Healthcare from $184.00 to $194.00 and gave the company an "outperform" rating in a research report on Friday, July 11th. Truist Financial boosted their price target on Tenet Healthcare from $190.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Raymond James Financial reissued an "outperform" rating and issued a $200.00 target price (up from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. Finally, UBS Group lifted their price target on Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $192.69.

Tenet Healthcare Trading Up 0.7%

Shares of THC stock opened at $186.72 on Thursday. The stock has a market capitalization of $16.50 billion, a P/E ratio of 11.95, 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. The firm's 50 day moving average is $171.11 and its 200 day moving average is $152.16. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $187.03.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, topping the consensus estimate of $2.84 by $1.18. The company had revenue of $5.27 billion during the quarter, compared to analyst estimates 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 previous year, the company posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Research analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Lisa Y. Foo sold 8,000 shares of the firm's 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 transaction, the executive vice president directly owned 20,878 shares of the company's stock, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher S. Lynch sold 3,952 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the sale, the director directly owned 12,358 shares of the company's stock, valued at $2,179,827.62. This represents a 24.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,960 shares of company stock worth $2,134,801. 0.81% of the stock is currently owned by insiders.

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.

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).

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.