Raymond James Financial Inc. Has $61.38 Million Position in Tenet Healthcare Corporation $THC

Key Points

• Raymond James Financial has increased its stake in Tenet Healthcare Corporation by 17.6%, owning approximately 456,331 shares valued at $61.38 million.
• Tenet Healthcare recently reported earnings of $4.02 per share, exceeding analysts' expectations and indicating a 3.2% increase in revenue year-over-year.
• Institutional investors hold 95.44% of Tenet Healthcare’s stock, highlighting significant institutional interest in the company.

Raymond James Financial Inc. raised its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 17.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 456,331 shares of the company's stock after purchasing an additional 68,150 shares during the quarter. Raymond James Financial Inc. owned approximately 0.49% of Tenet Healthcare worth $61,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in THC. Mariner LLC increased its position in Tenet Healthcare by 24.6% during the 4th quarter. Mariner LLC now owns 8,604 shares of the company's stock valued at $1,086,000 after purchasing an additional 1,697 shares during the period. GeoWealth Management LLC increased its position in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after purchasing an additional 84 shares during the period. First Trust Advisors LP increased its position in Tenet Healthcare by 11.6% during the 4th quarter. First Trust Advisors LP now owns 305,858 shares of the company's stock valued at $38,608,000 after purchasing an additional 31,815 shares during the period. Dimensional Fund Advisors LP increased its position in Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after purchasing an additional 272,906 shares during the period. Finally, MetLife Investment Management LLC increased its position in Tenet Healthcare by 8.3% during the 4th quarter. MetLife Investment Management LLC now owns 53,607 shares of the company's stock valued at $6,767,000 after purchasing an additional 4,093 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Price Performance

Shares of THC opened at $182.07 on Thursday. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $185.25. The business's fifty day moving average is $168.12 and its 200 day moving average is $149.13. 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 stock has a market cap of $16.09 billion, a P/E ratio of 11.66, a P/E/G ratio of 0.76 and a beta of 1.52.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. During the same period last year, the business earned $2.31 EPS. Tenet Healthcare'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. Sell-side analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Paola M. Arbour sold 7,738 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the transaction, the executive vice president directly owned 20,110 shares in the company, valued at approximately $3,479,030. This trade represents a 27.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Robert Kerrey sold 1,222 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total value of $201,581.12. Following the transaction, the director owned 22,377 shares in the company, valued at approximately $3,691,309.92. This trade represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,873 shares of company stock valued at $5,444,128 in the last 90 days. Insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on THC shares. Truist Financial increased their target price on shares of Tenet Healthcare from $190.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Robert W. Baird reduced their price objective on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Mizuho raised their price objective on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. Finally, Wolfe Research downgraded shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $191.88.

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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