Islay Capital Management LLC Purchases 3,923 Shares of Tenet Healthcare Corporation $THC

Key Points

• Islay Capital Management LLC increased its stake in Tenet Healthcare Corporation by 71.7% in the first quarter, reaching a total of 9,397 shares valued at approximately $1.26 million.
• Several hedge funds also boosted their positions in Tenet Healthcare, with institutional investors now owning 95.44% of the company's stock.
• Analysts have varying ratings on Tenet Healthcare, but the average rating is "Moderate Buy" with a consensus price target of $191.88.

Islay Capital Management LLC lifted its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 71.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,397 shares of the company's stock after purchasing an additional 3,923 shares during the quarter. Islay Capital Management LLC's holdings in Tenet Healthcare were worth $1,264,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank grew its stake in Tenet Healthcare by 3.9% during the first quarter. Comerica Bank now owns 58,592 shares of the company's stock worth $7,881,000 after buying an additional 2,204 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its position in Tenet Healthcare by 121.9% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 16,590 shares of the company's stock worth $2,231,000 after acquiring an additional 9,113 shares during the last quarter. Oliver Luxxe Assets LLC raised its position in Tenet Healthcare by 16.3% in the 1st quarter. Oliver Luxxe Assets LLC now owns 5,796 shares of the company's stock valued at $780,000 after purchasing an additional 811 shares during the last quarter. SVB Wealth LLC acquired a new position in Tenet Healthcare in the first quarter worth $30,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Tenet Healthcare by 24.2% during the first quarter. Smartleaf Asset Management LLC now owns 585 shares of the company's stock worth $78,000 after purchasing an additional 114 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Guggenheim upped their price target on shares of Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Raymond James Financial reiterated an "outperform" rating and set a $200.00 target price (up from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. upped their price objective on Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $190.00 target price on shares of Tenet Healthcare in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and a consensus target price of $192.69.

Insider Activity at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 7,738 shares of the stock in a transaction on 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 owned 20,110 shares of the company's stock, valued at $3,479,030. This represents a 27.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Y. Foo sold 8,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the completion of the sale, the executive vice president directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 20,526 shares of company stock worth $3,616,769. Corporate insiders own 0.81% of the company's stock.

Tenet Healthcare Trading Up 1.4%

Tenet Healthcare stock traded up $2.48 during mid-day trading on Thursday, hitting $184.43. 978,425 shares of the company's stock were exchanged, compared to its average volume of 1,526,301. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $185.25. 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 $16.29 billion, a P/E ratio of 11.81, a PEG ratio of 0.77 and a beta of 1.52. The company's 50 day simple moving average is $169.54 and its 200-day simple moving average is $150.41.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced 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. 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 the consensus estimate of $5.16 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The company's revenue for the quarter 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. On average, equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share 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.