Tenet Healthcare Corporation $THC Shares Purchased by Leith Wheeler Investment Counsel Ltd.

Leith Wheeler Investment Counsel Ltd. increased its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 22.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,813 shares of the company's stock after purchasing an additional 15,019 shares during the quarter. Tenet Healthcare accounts for approximately 0.9% of Leith Wheeler Investment Counsel Ltd.'s portfolio, making the stock its 27th biggest position. Leith Wheeler Investment Counsel Ltd. owned about 0.09% of Tenet Healthcare worth $14,575,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Tenet Healthcare in the 1st quarter valued at about $26,000. Chung Wu Investment Group LLC acquired a new position in Tenet Healthcare in the 2nd quarter valued at about $35,000. Wayfinding Financial LLC acquired a new position in Tenet Healthcare in the 1st quarter valued at about $28,000. SVB Wealth LLC acquired a new position in Tenet Healthcare in the 1st quarter valued at about $30,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Tenet Healthcare during the first quarter worth about $31,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tenet Healthcare

In other news, CEO Saumya Sutaria sold 78,762 shares of the company'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 transaction of $15,026,214.36. Following the completion of the sale, the chief executive officer owned 368,683 shares in the company, valued at $70,337,342.74. This 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 through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total value of $1,436,240.00. Following the sale, the executive vice president owned 20,878 shares of the company's stock, valued at $3,748,227.34. This trade represents a 27.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,722 shares of company stock worth $17,161,015 over the last 90 days. 0.81% of the stock is currently owned by insiders.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $189.45 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $207.14. The stock has a 50 day moving average of $185.76 and a two-hundred day moving average of $165.08. The stock has a market cap of $16.74 billion, a P/E ratio of 12.13, a P/E/G ratio of 0.81 and a beta of 1.52.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data 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. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The company had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. The firm'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. On average, research analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Robert W. Baird lowered their price objective on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Wolfe Research downgraded Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 28th. UBS Group boosted their price objective on Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tenet Healthcare has an average rating of "Moderate Buy" and an average price target of $201.69.

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.

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