Tenet Healthcare Corporation $THC Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has decreased its stake in Tenet Healthcare Corporation by 5.5%, now holding approximately 178,309 shares worth around $23.98 million.
• Tenet Healthcare's stock recently saw a 2.0% increase, with a current price of $196.36 and a market capitalization of $17.35 billion.
• In its latest earnings report, Tenet Healthcare surpassed analysts' expectations by reporting an EPS of $4.02, resulting in a significant revenue increase compared to the previous year.

Intech Investment Management LLC trimmed its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,309 shares of the company's stock after selling 10,458 shares during the period. Intech Investment Management LLC owned about 0.19% of Tenet Healthcare worth $23,983,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Tenet Healthcare by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,969 shares of the company's stock worth $37,252,000 after acquiring an additional 12,914 shares during the period. Empowered Funds LLC boosted its stake in shares of Tenet Healthcare by 19.6% in the first quarter. Empowered Funds LLC now owns 154,754 shares of the company's stock worth $20,814,000 after acquiring an additional 25,323 shares during the last quarter. United Services Automobile Association acquired a new position in Tenet Healthcare during the first quarter worth $821,000. Fred Alger Management LLC acquired a new position in Tenet Healthcare during the first quarter worth $2,652,000. Finally, Jones Financial Companies Lllp raised its position in Tenet Healthcare by 299.1% in the first quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company's stock valued at $229,000 after purchasing an additional 1,274 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the business's 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Saumya Sutaria sold 78,762 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total value of $15,026,214.36. Following the completion of the transaction, the chief executive officer owned 368,683 shares in the company, valued at approximately $70,337,342.74. This trade represents a 17.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,722 shares of company stock worth $17,161,015 over the last quarter. 0.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on THC shares. Truist Financial boosted their price objective on Tenet Healthcare from $190.00 to $205.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Mizuho boosted their target price on Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. UBS Group upped their price objective on Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus price target of $195.50.

Tenet Healthcare Trading Down 1.7%

Shares of THC stock traded down $3.19 during mid-day trading on Monday, hitting $189.63. 412,897 shares of the company's stock were exchanged, compared to its average volume of 1,500,373. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $199.99. The stock has a 50-day simple moving average of $173.91 and a two-hundred day simple moving average of $155.37. 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 stock has a market cap of $16.75 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.83 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 (EPS) 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 business had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The business's revenue 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 expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal 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.