Lecap Asset Management Ltd. Makes New Investment in Tenet Healthcare Corporation $THC

Key Points

• Lecap Asset Management Ltd. has initiated a new investment in Tenet Healthcare Corporation, purchasing 2,212 shares valued at approximately $389,000 during Q2.
• Insider transactions include EVP Lisa Y. Foo selling 8,000 shares for over $1.43 million, and CEO Saumya Sutaria selling 78,762 shares worth approximately $15 million, indicating notable changes in ownership.
• Tenet Healthcare reported Q2 earnings of $4.02 per share, exceeding estimates, and its stock hit a price target revision from several analysts, with projections suggesting a target price range between $200 and $238.

Lecap Asset Management Ltd. bought a new position in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,212 shares of the company's stock, valued at approximately $389,000.

Other hedge funds have also bought and sold shares of the company. LVW Advisors LLC acquired a new position in shares of Tenet Healthcare in the 2nd quarter valued at $216,000. Signaturefd LLC increased its stake in shares of Tenet Healthcare by 11.2% in the 2nd quarter. Signaturefd LLC now owns 732 shares of the company's stock valued at $129,000 after purchasing an additional 74 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Tenet Healthcare by 60.0% during the second quarter. State of Alaska Department of Revenue now owns 35,424 shares of the company's stock worth $6,234,000 after purchasing an additional 13,285 shares in the last quarter. Norden Group LLC grew its holdings in Tenet Healthcare by 89.2% in the second quarter. Norden Group LLC now owns 5,206 shares of the company's stock valued at $916,000 after purchasing an additional 2,454 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $312,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 8,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the transaction, the executive vice president owned 20,878 shares of the company's stock, valued at $3,748,227.34. This represents a 27.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the sale, the chief executive officer owned 368,683 shares of the company's stock, valued at approximately $70,337,342.74. This represents a 17.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,722 shares of company stock worth $17,161,015 over the last quarter. 0.81% of the stock is currently owned by company insiders.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $202.93 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. The business's 50 day moving average price is $181.85 and its 200 day moving average price is $162.23. The company has a market cap of $17.93 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.87 and a beta of 1.52. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $205.99.

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 for the quarter, beating the consensus estimate of $2.84 by $1.18. The firm had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The company's revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Analyst Ratings Changes

THC has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Morgan Stanley upped their price target on shares of Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Barclays lifted their price objective on Tenet Healthcare from $208.00 to $229.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. UBS Group raised their target price on Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company boosted their price target on Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $196.81.

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.

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