Maverick Capital Ltd. Raises Holdings in Tenet Healthcare Corporation $THC

Key Points

• Maverick Capital Ltd. increased its stake in Tenet Healthcare Corporation by 135.5%, owning 6,729 shares valued at approximately $905,000, making significant investments in the healthcare provider.
• Director Christopher S. Lynch and EVP Paola M. Arbour sold shares worth over $2 million combined, indicating a decline in their respective ownership by more than 24%.
• Tenet Healthcare reported better-than-expected earnings of $4.02 per share in its latest earnings results, beating the consensus estimate by $1.18, which reflects a year-over-year revenue growth of 3.2%.

Maverick Capital Ltd. lifted its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 135.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,729 shares of the company's stock after acquiring an additional 3,872 shares during the period. Maverick Capital Ltd.'s holdings in Tenet Healthcare were worth $905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Tenet Healthcare during the first quarter worth $26,000. Wayfinding Financial LLC acquired a new position in Tenet Healthcare during the first quarter worth $28,000. SVB Wealth LLC acquired a new position in Tenet Healthcare during the first quarter worth $30,000. Colonial Trust Co SC raised its position in Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in Tenet Healthcare in the first quarter valued at $31,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 3,952 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total value of $697,093.28. Following the completion of the sale, the director directly owned 12,358 shares of the company's stock, valued at $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 is available through the SEC website. Also, 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 completion of the sale, the executive vice president directly owned 20,878 shares of the company's stock, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,960 shares of company stock valued at $2,134,801. Insiders own 0.81% of the company's stock.

Tenet Healthcare Stock Up 2.0%

THC traded up $3.88 on Friday, hitting $196.40. 923,997 shares of the company were exchanged, compared to its average volume of 910,441. The firm has a 50-day moving average price of $171.97 and a two-hundred day moving average price of $152.99. The company has a market cap of $17.35 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.82 and a beta of 1.55. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $196.73. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. During the same period in the prior year, the firm posted $2.31 EPS. The business's quarterly revenue 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 predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on THC shares. Wells Fargo & Company lifted their target price on Tenet Healthcare from $195.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. boosted their price objective on Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Barclays dropped their target price on Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $190.00 target price on shares of Tenet Healthcare in a research report on Tuesday, August 26th. Finally, Truist Financial lifted their target price on Tenet Healthcare from $190.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $192.69.

Tenet Healthcare 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.