Talon Private Wealth LLC Acquires 16,170 Shares of Tenet Healthcare Corporation $THC

Key Points

• Talon Private Wealth LLC significantly increased its stake in Tenet Healthcare Corporation by 4,700.6% during the first quarter, owning 16,514 shares valued at $2.2 million.
• Analysts have issued mixed ratings for Tenet Healthcare, with target prices ranging from $184.00 to $215.00 and a consensus rating of "Moderate Buy" based on 14 buy ratings and 1 strong buy rating.
• Tenet reported Q2 earnings of $4.02 per share, surpassing estimates and posting a 3.2% increase in revenue year-over-year, with a market capitalization of $17.35 billion.

Talon Private Wealth LLC grew its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 4,700.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,514 shares of the company's stock after acquiring an additional 16,170 shares during the period. Talon Private Wealth LLC's holdings in Tenet Healthcare were worth $2,218,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of THC. Nuveen LLC bought a new position in shares of Tenet Healthcare during the first quarter worth about $218,549,000. Ameriprise Financial Inc. raised its stake in Tenet Healthcare by 348.4% during the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock worth $263,905,000 after buying an additional 1,524,642 shares during the last quarter. Boston Partners raised its stake 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 during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Tenet Healthcare by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock worth $1,021,736,000 after acquiring an additional 463,552 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Tenet Healthcare by 111.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 469,529 shares of the company's stock worth $63,152,000 after purchasing an additional 247,314 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Insider Transactions at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction dated 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 transaction, the director directly owned 12,358 shares of the company's stock, valued at $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the 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 completion of the transaction, the executive vice president directly owned 20,878 shares of the company's stock, valued at $3,748,227.34. This represents a 27.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,960 shares of company stock valued at $2,134,801. 0.81% of the stock is currently owned by corporate insiders.

Tenet Healthcare Price Performance

NYSE THC traded down $4.91 during trading hours on Wednesday, hitting $191.48. The company had a trading volume of 2,086,644 shares, compared to its average volume of 1,508,432. The firm has a 50 day simple moving average of $172.66 and a 200 day simple moving average of $153.96. 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 52 week low of $109.82 and a 52 week high of $199.99. The firm has a market capitalization of $16.92 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 0.82 and a beta of 1.55.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $1.18. The business had revenue of $5.27 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Equities research analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $200.00 target price (up from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. Guggenheim boosted their price objective on Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $190.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, August 26th. Finally, Truist Financial upped their price objective on Tenet Healthcare from $190.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One 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 company. Based on data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $195.50.

Tenet Healthcare Company 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.