Strs Ohio Acquires New Holdings in Tenet Healthcare Corporation $THC

Key Points

• Strs Ohio has invested $1.55 million in Tenet Healthcare Corporation, acquiring 11,526 shares during the first quarter.
• Tenet Healthcare reported a Q2 earnings per share of $4.02, exceeding estimates, and projected FY 2025 earnings between $15.550 and $16.210.
• Analysts have recently upgraded their ratings on Tenet Healthcare, with price targets ranging from $200 to $225, indicating strong market confidence.

Strs Ohio acquired a new position in Tenet Healthcare Corporation (NYSE:THC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,526 shares of the company's stock, valued at approximately $1,550,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of THC. Focus Partners Wealth increased its stake in shares of Tenet Healthcare by 125.1% in the 4th quarter. Focus Partners Wealth now owns 5,002 shares of the company's stock worth $631,000 after purchasing an additional 2,780 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tenet Healthcare by 12.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,384 shares of the company's stock worth $680,000 after buying an additional 608 shares during the period. ProShare Advisors LLC increased its stake 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 in the last quarter. Two Sigma Investments LP increased its stake in Tenet Healthcare by 134.0% in the 4th quarter. Two Sigma Investments LP now owns 257,943 shares of the company's stock worth $32,560,000 after buying an additional 147,731 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its stake 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 in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

THC has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $190.00 price target on shares of Tenet Healthcare in a research note on Tuesday, August 26th. Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Guggenheim increased their price objective on shares of Tenet Healthcare from $180.00 to $188.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wolfe Research downgraded shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th. Finally, Stephens raised shares of Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. One equities research 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $196.81.

Insider Transactions at Tenet Healthcare

In other news, CEO Saumya Sutaria sold 78,762 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the transaction, the chief executive officer directly owned 368,683 shares of the company's stock, valued at approximately $70,337,342.74. This trade represents a 17.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher S. Lynch sold 3,952 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the transaction, the director directly owned 12,358 shares in the company, valued at approximately $2,179,827.62. This trade represents a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,722 shares of company stock valued at $17,161,015. 0.81% of the stock is currently owned by company insiders.

Tenet Healthcare Trading Up 3.8%

Tenet Healthcare stock traded up $6.93 during midday trading on Thursday, reaching $190.40. The stock had a trading volume of 1,174,669 shares, compared to its average volume of 1,501,454. 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 Corporation has a 52-week low of $109.82 and a 52-week high of $199.99. The firm has a market cap of $16.82 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 0.78 and a beta of 1.55. The company has a fifty day moving average of $174.63 and a 200 day moving average of $156.17.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The company had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same period in the prior year, the company posted $2.31 EPS. The firm'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. On average, analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal 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.