Tenet Healthcare Corporation $THC Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC reduced its holdings in Tenet Healthcare Corporation by 82.2%, holding only 533 shares after selling 2,466 shares in the 1st quarter.
• Several institutional investors have increased their stakes in Tenet, with significant increases including BOKF NA by 22.0% and DZ BANK AG by 408.7% during the 4th quarter.
• Tenet Healthcare reported $4.02 earnings per share (EPS) for the last quarter, exceeding analysts' expectations and marking a 3.2% revenue increase year-over-year.

AlphaQuest LLC lowered its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 82.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 533 shares of the company's stock after selling 2,466 shares during the quarter. AlphaQuest LLC's holdings in Tenet Healthcare were worth $72,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. US Bancorp DE increased its holdings in shares of Tenet Healthcare by 0.8% during 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 in the last quarter. Lindbrook Capital LLC increased its holdings in Tenet Healthcare by 5.3% in the 1st quarter. Lindbrook Capital LLC now owns 1,427 shares of the company's stock worth $192,000 after buying an additional 72 shares during the period. Covestor Ltd increased its holdings in Tenet Healthcare by 10.4% in the 1st quarter. Covestor Ltd now owns 873 shares of the company's stock worth $117,000 after buying an additional 82 shares during the period. Colonial Trust Co SC increased its holdings in Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after buying an additional 114 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in Tenet Healthcare by 2.7% in the 1st quarter. Meeder Asset Management Inc. now owns 4,521 shares of the company's stock worth $608,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Analysts Set New Price Targets

THC has been the topic of a number of recent analyst reports. Mizuho increased their price target on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Raymond James Financial reiterated an "outperform" rating and set a $200.00 target price (up previously from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. Wells Fargo & Company increased their target price on Tenet Healthcare from $195.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, UBS Group increased their target price on Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average target price of $192.69.

Tenet Healthcare Trading Up 2.0%

Shares of NYSE THC traded up $3.88 during trading on Friday, hitting $196.40. 923,997 shares of the company were exchanged, compared to its average volume of 910,441. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $196.73. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. The company has a fifty day moving average price of $171.97 and a 200-day moving average price of $153.11. The firm has a market capitalization of $17.35 billion, a PE ratio of 12.57, a P/E/G ratio of 0.84 and a beta of 1.55.

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

Insider Transactions at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 8,000 shares of the firm's 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 sale, the executive vice president directly owned 20,878 shares of the company's stock, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare 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 approximately $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,960 shares of company stock valued at $2,134,801 over the last three months. Corporate insiders own 0.81% of the company's stock.

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.