Tenet Healthcare Corporation $THC Holdings Lowered 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 reduced its position 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 filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare during the 1st quarter valued at approximately $26,000. Wayfinding Financial LLC acquired a new stake in shares of Tenet Healthcare during the 1st quarter valued at approximately $28,000. SVB Wealth LLC acquired a new stake in shares of Tenet Healthcare during the 1st quarter valued at approximately $30,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Tenet Healthcare during the 1st quarter valued at approximately $31,000. Finally, Brooklyn Investment Group grew its stake in Tenet Healthcare by 908.7% during the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company's stock worth $31,000 after buying an additional 209 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Lisa Y. Foo sold 8,000 shares of the company'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 completion of the sale, the executive vice president owned 20,878 shares in the company, valued at $3,748,227.34. This represents a 27.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Christopher S. Lynch sold 3,952 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the completion of the sale, the director 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 disclosure for this sale can be found here. Insiders sold a total of 90,722 shares of company stock worth $17,161,015 over the last 90 days. 0.81% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on THC shares. Morgan Stanley upped their price objective on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Bank of America upped their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday. Raymond James Financial restated an "outperform" rating and set a $200.00 price objective (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. 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 note on Wednesday, July 23rd. Finally, Guggenheim upped their price objective on Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus price target of $195.50.

Tenet Healthcare Stock Performance

Shares of NYSE:THC traded down $0.78 on Friday, hitting $192.60. The company's stock had a trading volume of 889,220 shares, compared to its average volume of 1,058,117. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $199.99. The company has a market capitalization of $17.02 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. The stock's 50-day moving average is $173.91 and its two-hundred day moving average is $155.04. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The company's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, equities research analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

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.