Tenet Healthcare Corporation $THC Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Tenet Healthcare by 28.5%, selling 48,875 shares, while other institutional investors increased their holdings during the same period.
• Analysts have raised their price targets for Tenet Healthcare, with Morgan Stanley setting a new target of $210 and multiple firms issuing "buy" ratings.
• Tenet Healthcare reported better-than-expected earnings, with $4.02 EPS for the most recent quarter, significantly surpassing the consensus estimate of $2.84.

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 28.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,801 shares of the company's stock after selling 48,875 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.13% of Tenet Healthcare worth $16,517,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of THC. Mariner LLC raised its holdings in shares of Tenet Healthcare by 24.6% in the 4th quarter. Mariner LLC now owns 8,604 shares of the company's stock valued at $1,086,000 after buying an additional 1,697 shares during the period. GeoWealth Management LLC raised its holdings in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after buying an additional 84 shares during the period. Forum Financial Management LP raised its holdings in shares of Tenet Healthcare by 43.5% in the 4th quarter. Forum Financial Management LP now owns 2,469 shares of the company's stock valued at $312,000 after buying an additional 749 shares during the period. First Trust Advisors LP raised its holdings in shares of Tenet Healthcare by 11.6% in the 4th quarter. First Trust Advisors LP now owns 305,858 shares of the company's stock valued at $38,608,000 after buying an additional 31,815 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after buying an additional 272,906 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Morgan Stanley increased their price objective on Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Truist Financial increased 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. UBS Group increased their price objective on Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. One equities research 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.com, Tenet Healthcare has an average rating of "Moderate Buy" and an average price target of $191.88.

Insider Activity at Tenet Healthcare

In other news, Director Richard W. Fisher sold 836 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $173.16, for a total value of $144,761.76. Following the completion of the sale, the director directly owned 11,292 shares of the company's stock, valued at approximately $1,955,322.72. This represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Robert Kerrey sold 1,222 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total value of $201,581.12. Following the completion of the sale, the director directly owned 22,377 shares of the company's stock, valued at $3,691,309.92. The trade was a 5.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,873 shares of company stock worth $5,444,128 over the last 90 days. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare Stock Up 3.4%

Shares of NYSE:THC opened at $177.10 on Wednesday. The company has a market capitalization of $15.65 billion, a PE ratio of 11.34, a P/E/G ratio of 0.73 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. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $185.25. The firm has a 50 day simple moving average of $167.70 and a 200-day simple moving average of $148.91.

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, topping the consensus estimate of $2.84 by $1.18. The business had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The company's revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, equities analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

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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