Tenet Healthcare Corporation $THC Shares Bought by Sivik Global Healthcare LLC

Key Points

• Sivik Global Healthcare LLC increased its stake in Tenet Healthcare by 21.4% during the second quarter, owning 85,000 shares worth approximately $14.96 million.
• Tenet Healthcare's share price is currently down 2.8%, with a market cap of $16.74 billion and a 12-month high of $207.14.
• The company reported $4.02 earnings per share for the last quarter, exceeding analyst expectations, and has provided a fiscal year 2025 guidance of 15.550-16.210 EPS.

Sivik Global Healthcare LLC grew its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 21.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,000 shares of the company's stock after acquiring an additional 15,000 shares during the period. Tenet Healthcare comprises approximately 4.1% of Sivik Global Healthcare LLC's investment portfolio, making the stock its 2nd biggest position. Sivik Global Healthcare LLC owned approximately 0.09% of Tenet Healthcare worth $14,960,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Blue Trust Inc. raised its position in shares of Tenet Healthcare by 58.5% in the second quarter. Blue Trust Inc. now owns 271 shares of the company's stock worth $48,000 after acquiring an additional 100 shares during the period. Live Oak Investment Partners acquired a new position in shares of Tenet Healthcare in the second quarter worth about $1,478,000. Venturi Wealth Management LLC acquired a new position in shares of Tenet Healthcare in the second quarter worth about $221,000. Belpointe Asset Management LLC raised its position in shares of Tenet Healthcare by 54.1% in the second quarter. Belpointe Asset Management LLC now owns 3,062 shares of the company's stock worth $539,000 after acquiring an additional 1,075 shares during the period. Finally, Chung Wu Investment Group LLC acquired a new position in shares of Tenet Healthcare in the second quarter worth about $35,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Stock Down 2.8%

Shares of NYSE THC opened at $189.45 on Friday. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $207.14. The stock has a market cap of $16.74 billion, a PE ratio of 12.13, a P/E/G ratio of 0.81 and a beta of 1.52. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The company has a 50-day moving average of $185.76 and a 200 day moving average of $164.87.

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, beating the consensus estimate of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. 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 company posted $2.31 EPS. The business's revenue for the quarter was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, sell-side analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Activity

In other news, Director Christopher S. Lynch sold 3,952 shares of the 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 completion of the sale, the director owned 12,358 shares of the company's stock, valued at $2,179,827.62. This represents a 24.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Saumya Sutaria sold 78,762 shares of the 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 sale, the chief executive officer directly owned 368,683 shares of the company's stock, valued at approximately $70,337,342.74. This trade represents a 17.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,722 shares of company stock valued at $17,161,015 in the last 90 days. Company insiders own 0.81% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on THC. JPMorgan Chase & Co. upped their price target on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wells Fargo & Company upped their price target on shares of Tenet Healthcare from $200.00 to $238.00 and gave the stock an "overweight" rating in a research report on Tuesday. Robert W. Baird reduced their price target on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. UBS Group upped their price target on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Tenet Healthcare in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $201.69.

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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