Swedbank AB Buys New Position in Tenet Healthcare Corporation $THC

Key Points

• Swedbank AB has invested approximately $11.46 million in Tenet Healthcare by acquiring 65,126 shares during the second quarter, representing about 0.07% of the company's stock.
• Tenet Healthcare reported an earnings per share (EPS) of $4.02 for the last quarter, surpassing analyst expectations by $1.18, with revenues of $5.27 billion.
• Multiple analysts have rated Tenet Healthcare with a "Moderate Buy" consensus and established a target price of $196.81, with some firms raising their price targets following positive earnings results.

Swedbank AB purchased a new position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 65,126 shares of the company's stock, valued at approximately $11,462,000. Swedbank AB owned about 0.07% of Tenet Healthcare as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Sivia Capital Partners LLC acquired a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $290,000. PFW Advisors LLC acquired a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $217,000. Pallas Capital Advisors LLC increased its holdings in shares of Tenet Healthcare by 96.7% during the 2nd quarter. Pallas Capital Advisors LLC now owns 4,494 shares of the company's stock worth $791,000 after acquiring an additional 2,209 shares during the last quarter. Everpar Advisors LLC acquired a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $231,000. Finally, GK Wealth Management LLC acquired a new position in shares of Tenet Healthcare during the 2nd quarter worth approximately $232,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Activity

In other news, EVP Lisa Y. Foo sold 8,000 shares of the 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 sale, the executive vice president owned 20,878 shares of the company's stock, valued at approximately $3,748,227.34. This represents a 27.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the completion of the sale, the director directly owned 12,358 shares of the company's stock, valued at approximately $2,179,827.62. The trade was a 24.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,722 shares of company stock valued at $17,161,015. Company insiders own 0.81% of the company's stock.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock traded up $3.88 during trading on Monday, reaching $194.02. 774,928 shares of the company's stock were exchanged, compared to its average volume of 1,212,798. 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 Corporation has a 1-year low of $109.82 and a 1-year high of $199.99. The company has a market cap of $17.14 billion, a P/E ratio of 12.42, a PEG ratio of 0.81 and a beta of 1.55. The firm's 50-day moving average price is $175.57 and its 200 day moving average price is $157.99.

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 business had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The business's revenue for the quarter 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. As a group, research analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on THC shares. Stephens raised Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Mizuho boosted their price target on Tenet Healthcare from $184.00 to $194.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Raymond James Financial restated an "outperform" rating and issued a $200.00 price target (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company boosted their price target on Tenet Healthcare from $195.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. One research 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $196.81.

About Tenet Healthcare

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.