Tenet Healthcare Corporation $THC Shares Acquired by Cwm LLC

Key Points

• Cwm LLC has increased its stake in Tenet Healthcare by 163.7%, owning 18,163 shares worth approximately $3.2 million as of the end of the second quarter.
• A number of research analysts have given Tenet Healthcare varying ratings, with UBS raising its price target to $238.00, while Zacks downgraded its rating from "strong-buy" to "hold."
• Insiders, including CEO Saumya Sutaria, have recently sold substantial amounts of stock, indicating a 17.60% decrease in Sutaria's ownership after selling 78,762 shares valued at over $15 million.

Cwm LLC lifted its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 163.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,163 shares of the company's stock after purchasing an additional 11,275 shares during the quarter. Cwm LLC's holdings in Tenet Healthcare were worth $3,197,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $26,000. Chung Wu Investment Group LLC acquired a new stake in Tenet Healthcare in the 2nd quarter valued at about $35,000. Wayfinding Financial LLC acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $28,000. SVB Wealth LLC acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $30,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $31,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group increased their price objective on shares of Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Zacks Research cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. The Goldman Sachs Group assumed coverage on shares of Tenet Healthcare in a research note on Tuesday. They set a "buy" rating and a $224.00 price target on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $200.00 price target (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Finally, Wolfe Research cut shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $209.25.

Insider Activity at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 3,952 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the transaction, the director 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the chief executive officer owned 368,683 shares in the company, valued at $70,337,342.74. The trade was a 17.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,722 shares of company stock worth $17,161,015. Company insiders own 0.81% of the company's stock.

Tenet Healthcare Trading Up 0.4%

Shares of THC stock opened at $199.89 on Friday. The firm has a market cap of $17.66 billion, a P/E ratio of 12.80, a PEG ratio of 0.85 and a beta of 1.52. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $207.14. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. The firm's 50-day simple moving average is $189.23 and its 200-day simple moving average is $166.82.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, topping the consensus estimate of $2.84 by $1.18. The business 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 company's revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, equities 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.

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