Tenet Healthcare Corporation $THC Shares Purchased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Tenet Healthcare by 4.9%, now owning approximately 276,969 shares valued at $37.25 million.
• Tenet Healthcare reported earnings of $4.02 per share for the latest quarter, exceeding estimates and achieving a net margin of 7.17%.
• Analysts have a consensus rating of "Moderate Buy" for Tenet Healthcare, with a target price averaging $195.50.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,969 shares of the company's stock after purchasing an additional 12,914 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.30% of Tenet Healthcare worth $37,252,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Empowered Funds LLC grew its stake in shares of Tenet Healthcare by 19.6% during the first quarter. Empowered Funds LLC now owns 154,754 shares of the company's stock valued at $20,814,000 after acquiring an additional 25,323 shares in the last quarter. United Services Automobile Association acquired a new position in Tenet Healthcare in the first quarter worth about $821,000. Fred Alger Management LLC acquired a new position in Tenet Healthcare in the first quarter worth about $2,652,000. Jones Financial Companies Lllp grew its stake in Tenet Healthcare by 299.1% in the first quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company's stock worth $229,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Financial Strategies Group Inc. grew its stake in Tenet Healthcare by 31.1% in the first quarter. Financial Strategies Group Inc. now owns 4,411 shares of the company's stock worth $593,000 after purchasing an additional 1,047 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

Shares of THC traded up $6.93 during mid-day trading on Thursday, reaching $190.40. 1,174,667 shares of the company's stock traded hands, compared to its average volume of 1,501,454. The business's 50-day moving average price is $174.63 and its 200-day moving average price is $156.17. The stock has a market capitalization of $16.82 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 0.78 and a beta of 1.55. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $199.99.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. The company had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The business's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Equities analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho lifted their price target on Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Raymond James Financial restated an "outperform" rating and issued a $200.00 target price (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Finally, Robert W. Baird decreased their target price on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Tenet Healthcare presently has an average rating of "Moderate Buy" and a consensus target price of $196.81.

Insider Buying and Selling

In related news, Director Christopher S. Lynch sold 3,952 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the sale, the director owned 12,358 shares of the company's stock, valued at $2,179,827.62. The trade was a 24.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Saumya Sutaria sold 78,762 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total value of $15,026,214.36. Following the sale, the chief executive officer directly owned 368,683 shares in the company, valued at approximately $70,337,342.74. The trade was a 17.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,722 shares of company stock valued at $17,161,015 over the last quarter. Corporate insiders own 0.81% of the company's stock.

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.