Tenet Healthcare Corporation $THC Stock Position Lifted by Sector Gamma AS

Key Points

• Sector Gamma AS increased its stake in Tenet Healthcare Corporation by 95.5%, owning 43,000 shares valued at approximately $5.78 million as of its latest SEC filing.
• Tenet Healthcare reported earnings of $4.02 per share for the latest quarter, significantly exceeding analyst expectations of $2.84, and its revenue grew by 3.2% year-over-year.
• Several analysts have raised their price targets for Tenet Healthcare, with JPMorgan Chase increasing theirs to $200 and Truist Financial to $205, endorsing a positive outlook for the stock.

Sector Gamma AS lifted its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 95.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,000 shares of the company's stock after purchasing an additional 21,000 shares during the quarter. Tenet Healthcare comprises 1.9% of Sector Gamma AS's portfolio, making the stock its 21st largest position. Sector Gamma AS's holdings in Tenet Healthcare were worth $5,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare during the 1st quarter worth approximately $26,000. Wayfinding Financial LLC acquired a new stake in shares of Tenet Healthcare during the 1st quarter worth approximately $28,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Tenet Healthcare during the 1st quarter worth approximately $31,000. Colonial Trust Co SC grew its position in Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after purchasing an additional 114 shares during the last quarter. Finally, GeoWealth Management LLC grew its position in Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after purchasing an additional 84 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 1,222 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total transaction of $201,581.12. Following the sale, the director owned 22,377 shares in the company, valued at $3,691,309.92. The trade was a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paola M. Arbour sold 7,738 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the sale, the executive vice president owned 20,110 shares in the company, valued at $3,479,030. This represents a 27.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,873 shares of company stock worth $5,444,128. 0.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

THC has been the subject of several recent analyst reports. Morgan Stanley upped 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. Bank of America upped their target price on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Barclays reduced their price objective on shares of Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Mizuho upped their price objective on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $200.00 price objective (up previously from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Tenet Healthcare has a consensus rating of "Moderate Buy" and a consensus price target of $191.88.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded up $4.04 during mid-day trading on Wednesday, hitting $182.07. The company's stock had a trading volume of 1,429,807 shares, compared to its average volume of 1,296,223. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $16.09 billion, a P/E ratio of 11.66, a P/E/G ratio of 0.76 and a beta of 1.52. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $185.25. The stock's fifty day moving average price is $168.12 and its two-hundred day moving average price is $149.13.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly 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 analyst estimates of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Research analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

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.