Iron Triangle Partners LP Acquires Shares of 209,454 Tenet Healthcare Corporation $THC

Key Points

• Iron Triangle Partners LP invested approximately $28.17 million in Tenet Healthcare, acquiring 209,454 shares, making Tenet Healthcare about 4.5% of its portfolio.
• Wall Street analysts have a generally positive outlook for Tenet Healthcare, with several firms raising price targets to a consensus average of around $192.69.
• Tenet Healthcare reported a quarterly earnings per share of $4.02, significantly beating expectations, and provided FY 2025 guidance between 15.550-16.210 EPS.

Iron Triangle Partners LP acquired a new stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 209,454 shares of the company's stock, valued at approximately $28,172,000. Tenet Healthcare makes up about 4.5% of Iron Triangle Partners LP's holdings, making the stock its 7th biggest position. Iron Triangle Partners LP owned 0.23% of Tenet Healthcare at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Huber Capital Management LLC lifted its stake in Tenet Healthcare by 263.0% during the first quarter. Huber Capital Management LLC now owns 40,301 shares of the company's stock valued at $5,420,000 after buying an additional 29,200 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its stake in Tenet Healthcare by 50.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 13,346 shares of the company's stock valued at $1,795,000 after buying an additional 4,446 shares in the last quarter. B. Metzler seel. Sohn & Co. AG increased its position in shares of Tenet Healthcare by 65.1% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 13,173 shares of the company's stock valued at $1,772,000 after purchasing an additional 5,196 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of Tenet Healthcare during the first quarter valued at approximately $1,338,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Tenet Healthcare by 23.8% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 2,600 shares of the company's stock valued at $350,000 after purchasing an additional 500 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Christopher S. Lynch sold 3,952 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the sale, the director directly owned 12,358 shares of the company's stock, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paola M. Arbour sold 7,738 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the completion of the sale, the executive vice president directly owned 20,110 shares in the company, valued at approximately $3,479,030. The trade was a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,534 shares of company stock valued at $3,618,237 in the last 90 days. 0.81% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on THC shares. Wolfe Research downgraded Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 28th. Raymond James Financial reissued an "outperform" rating and issued a $200.00 target price (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Barclays lowered their target price on Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Morgan Stanley lifted their target price on Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, Robert W. Baird reduced their price target on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. One investment 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 company's stock. According to data from MarketBeat, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.69.

Tenet Healthcare Stock Up 0.4%

Shares of NYSE THC traded up $0.82 during mid-day trading on Tuesday, reaching $185.15. 657,456 shares of the company's stock were exchanged, compared to its average volume of 1,516,826. The firm has a market capitalization of $16.36 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.79 and a beta of 1.55. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The business has a fifty day simple moving average of $170.49 and a 200 day simple moving average of $151.69. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $186.05.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. The company had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.Tenet Healthcare's revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, equities analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal 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.