OMERS ADMINISTRATION Corp Increases Stock Holdings in Tenet Healthcare Corporation $THC

Key Points

• OMERS ADMINISTRATION Corp has increased its stake in Tenet Healthcare Corporation (THC) by 50% during the first quarter, now owning 13,346 shares worth approximately $1.8 million.
• Insider transactions show that Directors Christopher S. Lynch and Richard W. Fisher have sold significant portions of their shares, reflecting a decrease in their ownership stakes.
• Several analysts have upgraded their price targets for Tenet Healthcare, with estimates ranging from $180 to $238, supporting a consensus rating of "Moderate Buy."

OMERS ADMINISTRATION Corp grew its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 50.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 13,346 shares of the company's stock after acquiring an additional 4,446 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Tenet Healthcare were worth $1,795,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in THC. Nuveen LLC purchased a new position in shares of Tenet Healthcare during the first quarter valued at $218,549,000. Ameriprise Financial Inc. grew its stake in Tenet Healthcare by 348.4% in the first 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 last quarter. Boston Partners grew its stake in Tenet Healthcare by 692.9% in the first 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 last quarter. Price T Rowe Associates Inc. MD grew its stake in Tenet Healthcare by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock valued at $1,021,736,000 after purchasing an additional 463,552 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Tenet Healthcare by 45.2% in the first quarter. Victory Capital Management Inc. now owns 736,252 shares of the company's stock valued at $99,026,000 after purchasing an additional 229,197 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on THC. UBS Group lifted their target price on Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Barclays dropped their price target on Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Wolfe Research lowered Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Cantor Fitzgerald restated an "overweight" rating and set a $190.00 price target on shares of Tenet Healthcare in a research note on Tuesday, August 26th. Finally, Wells Fargo & Company lifted their target price on Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. One 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's stock. According to data from MarketBeat, Tenet Healthcare has an average rating of "Moderate Buy" and an average price target of $192.69.

Tenet Healthcare Stock Performance

NYSE:THC traded up $4.42 during trading hours on Thursday, reaching $191.33. The company had a trading volume of 660,049 shares, compared to its average volume of 1,507,780. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $193.46. The firm has a market cap of $16.90 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.55. The business's 50 day moving average price is $171.11 and its 200-day moving average price is $152.16. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63.

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, beating analysts' consensus estimates of $2.84 by $1.18. The company had revenue of $5.27 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Research analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Buying and Selling

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the company's 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 completion of the sale, the director directly owned 12,358 shares in the company, valued at $2,179,827.62. This represents a 24.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was 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 approximately $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. Insiders sold 11,960 shares of company stock valued at $2,134,801 over the last 90 days. Company insiders own 0.81% of the company's stock.

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.