Royal Bank of Canada Buys 30,281 Shares of Tenet Healthcare Corporation $THC

Key Points

• Royal Bank of Canada increased its stake in Tenet Healthcare by 34.0%, owning 119,349 shares worth approximately $16 million as of the latest SEC filing.
• In recent insider trading, EVP Lisa Y. Foo sold 8,000 shares, and Director Christopher S. Lynch sold 3,952 shares, decreasing their ownership percentages significantly.
• Tenet Healthcare reported an EPS of $4.02 for the last quarter, exceeding analysts' expectations, and established an FY 2025 EPS guidance of $15.550 - $16.210.

Royal Bank of Canada lifted its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 34.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,349 shares of the company's stock after purchasing an additional 30,281 shares during the quarter. Royal Bank of Canada owned about 0.13% of Tenet Healthcare worth $16,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in THC. US Bancorp DE boosted its stake in Tenet Healthcare by 0.8% in the first quarter. US Bancorp DE now owns 8,620 shares of the company's stock valued at $1,159,000 after acquiring an additional 68 shares during the period. Lindbrook Capital LLC lifted its position in shares of Tenet Healthcare by 5.3% during the 1st quarter. Lindbrook Capital LLC now owns 1,427 shares of the company's stock valued at $192,000 after acquiring an additional 72 shares during the last quarter. Covestor Ltd lifted its position in shares of Tenet Healthcare by 10.4% during the 1st quarter. Covestor Ltd now owns 873 shares of the company's stock valued at $117,000 after acquiring an additional 82 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Tenet Healthcare by 24.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 585 shares of the company's stock valued at $78,000 after purchasing an additional 114 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in shares of Tenet Healthcare by 2.7% in the first quarter. Meeder Asset Management Inc. now owns 4,521 shares of the company's stock worth $608,000 after acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on THC. Bank of America upped their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Robert W. Baird reduced their target price on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Raymond James Financial reissued an "outperform" rating and issued a $200.00 price target (up previously from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $190.00 price target on shares of Tenet Healthcare in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and a consensus target price of $195.50.

Tenet Healthcare Trading Down 3.3%

Shares of THC stock traded down $6.28 during trading hours on Monday, hitting $186.54. 1,735,548 shares of the company's stock traded hands, compared to its average volume of 1,047,955. The stock's 50 day simple moving average is $174.18 and its 200 day simple moving average is $155.79. The stock has a market cap of $16.48 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $199.99. 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 (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 the consensus estimate of $2.84 by $1.18. The company had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. Tenet Healthcare's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, sell-side analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value 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. This trade represents a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the completion of the transaction, the executive vice president owned 20,878 shares of the company's stock, valued at $3,748,227.34. The trade was a 27.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,722 shares of company stock valued at $17,161,015. Company insiders own 0.81% of the company's stock.

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.