State of Wyoming Has $409,000 Stock Position in Tenet Healthcare Corporation $THC

Key Points

• The State of Wyoming reduced its holdings in Tenet Healthcare Corporation by 43.0%, owning 3,041 shares valued at approximately $409,000.
• Several analysts have raised their price targets for Tenet Healthcare, with UBS increasing theirs from $230.00 to $238.00 while maintaining a "buy" rating.
• In the latest earnings report, Tenet Healthcare exceeded analysts' expectations with an EPS of $4.02, significantly surpassing the consensus estimate of $2.84.

State of Wyoming lowered its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 43.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,041 shares of the company's stock after selling 2,296 shares during the quarter. State of Wyoming's holdings in Tenet Healthcare were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. US Bancorp DE increased its holdings in Tenet Healthcare by 0.8% in the first quarter. US Bancorp DE now owns 8,620 shares of the company's stock valued at $1,159,000 after buying an additional 68 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Tenet Healthcare by 5.3% in the 1st quarter. Lindbrook Capital LLC now owns 1,427 shares of the company's stock worth $192,000 after buying an additional 72 shares in the last quarter. Covestor Ltd lifted its position in Tenet Healthcare by 10.4% in the first quarter. Covestor Ltd now owns 873 shares of the company's stock worth $117,000 after purchasing an additional 82 shares during the period. Colonial Trust Co SC lifted its position in shares of Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after acquiring an additional 114 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Tenet Healthcare by 24.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 585 shares of the company's stock valued at $78,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on THC. Morgan Stanley increased their target price on shares of Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Wall Street Zen upgraded shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. UBS Group boosted their price objective on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $192.69.

Tenet Healthcare Stock Performance

NYSE:THC traded up $1.37 during mid-day trading on Wednesday, hitting $186.72. The stock had a trading volume of 656,278 shares, compared to its average volume of 887,446. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $187.03. The stock has a market cap of $16.50 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 0.79 and a beta of 1.55. The company's 50 day simple moving average is $171.11 and its 200 day simple moving average is $152.16. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71.

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, beating the consensus estimate of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The business had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same period last year, the business posted $2.31 EPS. Tenet Healthcare's revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, equities research analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 7,738 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the transaction, the executive vice president directly owned 20,110 shares of the company's stock, valued at $3,479,030. This represents a 27.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard W. Fisher sold 836 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.16, for a total transaction of $144,761.76. Following the completion of the transaction, the director directly owned 11,292 shares in the company, valued at approximately $1,955,322.72. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,534 shares of company stock valued at $3,618,237 in the last 90 days. Insiders own 0.81% of the company's stock.

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.