Tenet Healthcare Corporation $THC Shares Acquired by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its holdings in Tenet Healthcare by 137.3% in the second quarter, now owning 20,878 shares worth approximately $3.67 million.
• CEO Saumya Sutaria sold 78,762 shares for over $15 million, reducing their ownership by 17.60%, while institutional investors control 95.44% of the stock.
• Tenet Healthcare reported $4.02 EPS for the last quarter, surpassing estimates, and has set its FY 2025 guidance at 15.550-16.210 EPS.

QRG Capital Management Inc. lifted its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 137.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,878 shares of the company's stock after acquiring an additional 12,080 shares during the quarter. QRG Capital Management Inc.'s holdings in Tenet Healthcare were worth $3,674,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Tenet Healthcare by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock valued at $1,021,736,000 after buying an additional 463,552 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Tenet Healthcare by 348.4% in the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock valued at $263,905,000 after acquiring an additional 1,524,642 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Tenet Healthcare by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock worth $225,297,000 after purchasing an additional 181,667 shares during the period. Nuveen LLC purchased a new position in shares of Tenet Healthcare during the 1st quarter valued at approximately $218,549,000. Finally, Boston Partners boosted its holdings in Tenet Healthcare by 692.9% during the first quarter. Boston Partners now owns 1,162,642 shares of the company's stock worth $156,318,000 after buying an additional 1,016,010 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the transaction, the chief executive officer owned 368,683 shares in the company, 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 filing with the SEC, which can be accessed through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were 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. The trade was a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,722 shares of company stock valued at $17,161,015. 0.81% of the stock is currently owned by insiders.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $199.86 on Tuesday. The company has a fifty day simple moving average of $182.72 and a 200-day simple moving average of $163.26. 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 firm has a market capitalization of $17.66 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.87 and a beta of 1.52. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $205.99.

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 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 firm had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same period in the previous year, the business posted $2.31 earnings per share. Tenet Healthcare's quarterly 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 analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Analysts Set New Price Targets

THC has been the topic of several recent analyst reports. Bank of America increased their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Wells Fargo & Company increased their price target on Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Guggenheim lifted their price target on shares of Tenet Healthcare from $180.00 to $188.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Raymond James Financial restated an "outperform" rating and set a $200.00 price objective (up from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $196.81.

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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