Ieq Capital LLC Decreases Stake in Tenet Healthcare Corporation $THC

Key Points

• Ieq Capital LLC reduced its holdings in Tenet Healthcare Corporation by 51.4% during the first quarter, selling 16,778 shares, and now owns 15,843 shares valued at over $2.1 million.
• Tenet Healthcare reported a quarterly earnings per share (EPS) of $4.02, exceeding analyst expectations, with revenue reaching $5.27 billion, an increase of 3.2% year-over-year.
• Analysts maintain a generally positive outlook for Tenet Healthcare, with 14 buy ratings and an average price target of $192.69.

Ieq Capital LLC lessened its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 51.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 15,843 shares of the company's stock after selling 16,778 shares during the quarter. Ieq Capital LLC's holdings in Tenet Healthcare were worth $2,131,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in THC. Nuveen LLC purchased a new position in shares of Tenet Healthcare in the 1st quarter valued at about $218,549,000. Ameriprise Financial Inc. boosted 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 valued at $263,905,000 after buying an additional 1,524,642 shares during the period. Boston Partners boosted its position in shares of Tenet Healthcare by 692.9% during the 1st quarter. Boston Partners now owns 1,162,642 shares of the company's stock worth $156,318,000 after acquiring an additional 1,016,010 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Tenet Healthcare by 6.5% during 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 acquiring an additional 463,552 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Tenet Healthcare by 45.2% during the 1st quarter. Victory Capital Management Inc. now owns 736,252 shares of the company's stock worth $99,026,000 after acquiring an additional 229,197 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Performance

THC traded up $3.56 during trading on Friday, hitting $196.08. 537,934 shares of the stock were exchanged, compared to its average volume of 1,506,516. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $196.62. The stock has a fifty day moving average price of $171.51 and a two-hundred day moving average price of $152.57. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $17.32 billion, a P/E ratio of 12.55, a PEG ratio of 0.80 and a beta of 1.55.

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 for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $5.16 billion. During the same period last year, the firm earned $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. As a group, sell-side analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Buying and Selling

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the sale, the director directly owned 12,358 shares of the company's stock, valued at approximately $2,179,827.62. This trade represents a 24.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of the stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,960 shares of company stock valued at $2,134,801 over the last ninety days. 0.81% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on THC. Wells Fargo & Company upped their price objective on Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Mizuho upped their price objective on Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. Wolfe Research cut Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 28th. Robert W. Baird lowered their price objective on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $200.00 price target (up previously from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. One research 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $192.69.

Tenet Healthcare Company 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.