HighTower Advisors LLC Raises Stock Holdings in Tenet Healthcare Corporation $THC

Key Points

• HighTower Advisors LLC increased its stake in Tenet Healthcare Corporation by 34.3% during the first quarter, now owning 8,742 shares valued at approximately $1.176 million.
• Tenet Healthcare reported $4.02 earnings per share for the quarter, significantly exceeding the consensus estimate of $2.84, with revenues of $5.27 billion.
• Several analysts have raised their price targets on Tenet Healthcare, with the current consensus rating being "Moderate Buy" and a price target around $192.69.

HighTower Advisors LLC lifted its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 34.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,742 shares of the company's stock after buying an additional 2,232 shares during the quarter. HighTower Advisors LLC's holdings in Tenet Healthcare were worth $1,176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of THC. Nuveen LLC acquired a new stake in Tenet Healthcare in the 1st quarter valued at $218,549,000. Covestor Ltd grew its position in Tenet Healthcare by 10.4% in the 1st quarter. Covestor Ltd now owns 873 shares of the company's stock valued at $117,000 after purchasing an additional 82 shares during the period. Cynosure Group LLC grew its position in Tenet Healthcare by 24.3% in the 1st quarter. Cynosure Group LLC now owns 2,771 shares of the company's stock valued at $373,000 after purchasing an additional 541 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Tenet Healthcare in the 1st quarter valued at $100,000. Finally, Townsquare Capital LLC grew its position in Tenet Healthcare by 956.6% in the 1st quarter. Townsquare Capital LLC now owns 23,499 shares of the company's stock valued at $3,161,000 after purchasing an additional 21,275 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paola M. Arbour sold 7,738 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $173.00, for a total value of $1,338,674.00. Following the transaction, the executive vice president directly owned 20,110 shares of the company's stock, valued at $3,479,030. The trade was a 27.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,534 shares of company stock worth $3,618,237 over the last quarter. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare Stock Performance

THC traded down $0.41 during trading hours on Friday, hitting $184.12. The stock had a trading volume of 918,320 shares, compared to its average volume of 932,302. The company's fifty day simple moving average is $170.19 and its 200 day simple moving average is $151.21. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $185.25. The stock has a market cap of $16.27 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.79 and a beta of 1.52. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 24.69% and a net margin of 7.17%.The company had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same quarter last year, the firm posted $2.31 EPS. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on THC shares. The Goldman Sachs Group raised their price objective on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Cantor Fitzgerald restated an "overweight" rating and set a $190.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, August 26th. Barclays dropped their price objective on Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Finally, Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $192.69.

Tenet Healthcare Profile

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.