Huber Capital Management LLC Buys 29,200 Shares of Tenet Healthcare Corporation $THC

Key Points

• Huber Capital Management LLC significantly increased its holdings in Tenet Healthcare Corporation by 263.0%, acquiring an additional 29,200 shares, bringing its total ownership to 40,301 shares valued at approximately $5.42 million.
• Tenet Healthcare recently reported a quarterly earnings per share (EPS) of $4.02, surpassing analysts’ expectations of $2.84 and showing a year-over-year revenue growth of 3.2%.
• Insider transactions revealed that executives sold a total of 20,526 shares of Tenet Healthcare stock valued at over $3.6 million last quarter, indicating a decline in their ownership positions.

Huber Capital Management LLC lifted its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 263.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,301 shares of the company's stock after acquiring an additional 29,200 shares during the period. Huber Capital Management LLC's holdings in Tenet Healthcare were worth $5,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in THC. Nuveen LLC acquired a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $218,549,000. Ameriprise Financial Inc. lifted its stake in shares of Tenet Healthcare by 348.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock worth $263,905,000 after acquiring an additional 1,524,642 shares during the period. Boston Partners raised its holdings in shares of Tenet Healthcare by 692.9% in the 1st quarter. Boston Partners now owns 1,162,642 shares of the company's stock worth $156,318,000 after purchasing an additional 1,016,010 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Tenet Healthcare by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock worth $1,021,736,000 after purchasing an additional 463,552 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Tenet Healthcare by 45.2% in the 1st quarter. Victory Capital Management Inc. now owns 736,252 shares of the company's stock worth $99,026,000 after purchasing an additional 229,197 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on THC shares. Mizuho boosted their target price on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Bank of America increased their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Wolfe Research downgraded shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th. Wells Fargo & Company increased their price target on shares of Tenet Healthcare from $195.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $192.69.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 8,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were 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 in the company, valued at $3,748,227.34. The trade was a 27.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the sale, the director owned 12,358 shares in the company, valued at $2,179,827.62. The trade was a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,534 shares of company stock valued at $3,618,237 in the last ninety days. Company insiders own 0.81% of the company's stock.

Tenet Healthcare Stock Down 0.2%

THC traded down $0.41 during trading on Monday, reaching $184.12. The company had a trading volume of 918,320 shares, compared to its average volume of 925,333. 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 12 month low of $109.82 and a 12 month high of $185.25. The company has a market cap of $16.27 billion, a P/E ratio of 11.79, a PEG ratio of 0.79 and a beta of 1.55. The business's fifty day moving average price is $170.19 and its 200 day moving average price is $151.34.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The company had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same period last year, the company earned $2.31 earnings per share. The firm's 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. Equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

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.