Live Oak Investment Partners Invests $1.48 Million in Tenet Healthcare Corporation $THC

Key Points

• Live Oak Investment Partners has invested approximately $1.48 million in Tenet Healthcare, acquiring 8,397 shares, which represents 1.1% of its total holdings.
• Tenet Healthcare reported earnings of $4.02 per share for the last quarter, significantly exceeding analysts' expectations of $2.84 and showing a 3.2% year-over-year revenue growth with total revenue of $5.27 billion.
• Following recent analyst evaluations, Tenet Healthcare's rating has shifted to a "hold" from a "strong-buy," with new price targets set between $200.00 and $229.00 by various firms.

Live Oak Investment Partners bought a new position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 8,397 shares of the company's stock, valued at approximately $1,478,000. Tenet Healthcare accounts for approximately 1.1% of Live Oak Investment Partners' holdings, making the stock its 26th biggest holding.

Several other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in shares of Tenet Healthcare by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock worth $1,021,736,000 after buying an additional 463,552 shares during the period. Ameriprise Financial Inc. grew its position in shares of Tenet Healthcare by 348.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock valued at $263,905,000 after purchasing an additional 1,524,642 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Tenet Healthcare by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock valued at $225,297,000 after purchasing an additional 181,667 shares during the period. Nuveen LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at approximately $218,549,000. Finally, Boston Partners grew its position in shares of Tenet Healthcare by 692.9% in the 1st quarter. Boston Partners now owns 1,162,642 shares of the company's stock valued at $156,318,000 after purchasing an additional 1,016,010 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Trading Down 2.2%

Shares of Tenet Healthcare stock opened at $200.33 on Thursday. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $207.14. The stock has a market cap of $17.70 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.88 and a beta of 1.52. 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 business's 50 day moving average is $184.47 and its 200-day moving average is $163.80.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating analysts' consensus estimates 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 in the prior year, the business earned $2.31 EPS. The firm's revenue for the quarter 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 research analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

THC has been the subject of several research analyst reports. Zacks Research lowered Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Monday. Bank of America upped their price target on Tenet Healthcare from $205.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Wolfe Research downgraded Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Barclays upped their price target on Tenet Healthcare from $208.00 to $229.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of "Moderate Buy" and an average target price of $201.69.

Insider Activity at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total value of $697,093.28. Following the sale, the director owned 12,358 shares in the company, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the completion of the sale, 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. In the last quarter, insiders have sold 90,722 shares of company stock worth $17,161,015. Company insiders own 0.81% of the company's stock.

About Tenet Healthcare

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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