Russell Investments Group Ltd. Sells 69,513 Shares of Tenet Healthcare Corporation $THC

Key Points

• Russell Investments Group Ltd. sold 69,513 shares of Tenet Healthcare Corporation, reducing their holdings by 56.4% to approximately 0.06% of the company, valued at $7.23 million.
• Despite Russell's reduction, several institutional investors such as Mariner LLC and Dimensional Fund Advisors LP increased their stakes in Tenet, reflecting strong institutional interest in the company.
• Tenet Healthcare recently reported earnings exceeding expectations, with EPS of $4.02, alongside increased revenue guidance for FY 2025.

Russell Investments Group Ltd. cut its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 56.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,747 shares of the company's stock after selling 69,513 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Tenet Healthcare worth $7,228,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of THC. Mariner LLC grew its holdings in shares of Tenet Healthcare by 24.6% in the fourth quarter. Mariner LLC now owns 8,604 shares of the company's stock valued at $1,086,000 after acquiring an additional 1,697 shares in the last quarter. GeoWealth Management LLC grew its holdings in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of Tenet Healthcare by 43.5% in the fourth quarter. Forum Financial Management LP now owns 2,469 shares of the company's stock valued at $312,000 after acquiring an additional 749 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Tenet Healthcare by 11.6% in the fourth quarter. First Trust Advisors LP now owns 305,858 shares of the company's stock valued at $38,608,000 after acquiring an additional 31,815 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Tenet Healthcare by 22.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after acquiring an additional 272,906 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on THC shares. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Raymond James Financial reiterated an "outperform" rating and issued a $200.00 price objective (up previously from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. The Goldman Sachs Group upped their price objective on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Royal Bank Of Canada upped their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $191.88.

Tenet Healthcare Trading Up 3.4%

NYSE:THC opened at $177.10 on Wednesday. The company has a market cap of $15.65 billion, a P/E ratio of 11.34, a P/E/G ratio of 0.73 and a beta of 1.52. The stock's fifty day moving average price is $167.70 and its two-hundred day moving average price is $148.91. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $185.25. 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 posted its earnings results 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. The firm had revenue of $5.27 billion for 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%.The business's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Activity

In other news, Director Richard W. Fisher sold 3,077 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $165.72, for a total value of $509,920.44. Following the transaction, the director owned 12,128 shares of the company's stock, valued at approximately $2,009,852.16. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James L. Bierman sold 13,836 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $159.58, for a total transaction of $2,207,948.88. Following the completion of the transaction, the director directly owned 41,435 shares in the company, valued at approximately $6,612,197.30. The trade was a 25.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,873 shares of company stock worth $5,444,128. 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.

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