Sivia Capital Partners LLC Makes New $290,000 Investment in Tenet Healthcare Corporation $THC

Key Points

• Sivia Capital Partners LLC has made a new investment of approximately $290,000 in Tenet Healthcare Corporation by acquiring 1,646 shares during the 2nd quarter.
• In the first quarter, several institutional investors, including Nuveen LLC and Ameriprise Financial Inc., significantly increased their stakes, highlighting strong institutional interest in Tenet Healthcare with 95.44% of the company's stock held by such investors.
• Wall Street analysts have generally favorable outlooks on Tenet, with multiple firms raising their price targets, and the stock now holds a consensus rating of "Moderate Buy" with a target price of $196.81.

Sivia Capital Partners LLC bought a new position in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,646 shares of the company's stock, valued at approximately $290,000.

Several other institutional investors have also recently modified their holdings of THC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Tenet Healthcare by 12.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,384 shares of the company's stock valued at $680,000 after purchasing an additional 608 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Tenet Healthcare by 6.5% in the 4th quarter. ProShare Advisors LLC now owns 4,449 shares of the company's stock worth $562,000 after buying an additional 272 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in Tenet Healthcare by 149.4% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 27,318 shares of the company's stock worth $3,448,000 after buying an additional 16,364 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tenet Healthcare by 18.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 264,055 shares of the company's stock worth $33,332,000 after buying an additional 42,025 shares during the period. Finally, Vise Technologies Inc. lifted its holdings in Tenet Healthcare by 28.4% in the 4th quarter. Vise Technologies Inc. now owns 1,613 shares of the company's stock worth $204,000 after buying an additional 357 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Robert W. Baird dropped their price objective on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Bank of America raised their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Barclays boosted their price target on Tenet Healthcare from $208.00 to $229.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, UBS Group boosted their price target on Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. 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's stock. According to MarketBeat, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus target price of $196.81.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Christopher S. Lynch sold 3,952 shares of the business'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 transaction, the director owned 12,358 shares of the company's stock, valued at $2,179,827.62. The trade was a 24.23% decrease in their position. The sale was disclosed in a filing with the SEC, 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 stock was sold at an average price of $179.53, for a total value of $1,436,240.00. Following the completion of the transaction, the executive vice president directly owned 20,878 shares of the company's stock, valued at $3,748,227.34. The trade was a 27.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,722 shares of company stock worth $17,161,015. 0.81% of the stock is currently owned by insiders.

Tenet Healthcare Trading Down 0.1%

NYSE:THC traded down $0.20 during midday trading on Friday, hitting $190.09. The stock had a trading volume of 3,491,692 shares, compared to its average volume of 1,084,422. The stock has a 50-day moving average of $175.25 and a 200 day moving average of $157.09. The company has a market capitalization of $16.79 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.81 and a beta of 1.55. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $199.99. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter last year, the firm earned $2.31 EPS. The business'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. As a group, sell-side analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

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.