Tenet Healthcare Corporation $THC Shares Sold by Kingdon Capital Management L.L.C.

Key Points

• Kingdon Capital Management L.L.C. reduced its stake in Tenet Healthcare Corporation by 6.1%, now holding 142,500 shares, making it the firm's fourth largest holding.
• Tenet Healthcare reported a quarterly earnings per share (EPS) of $4.02, significantly exceeding the analysts' expectations of $2.84 and marking a 3.2% year-over-year revenue increase to $5.27 billion.
• Institutional investors now own approximately 95.44% of Tenet Healthcare’s stock, reflecting strong interest from large financial entities.

Kingdon Capital Management L.L.C. reduced its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,500 shares of the company's stock after selling 9,200 shares during the period. Tenet Healthcare comprises about 2.0% of Kingdon Capital Management L.L.C.'s holdings, making the stock its 4th largest holding. Kingdon Capital Management L.L.C. owned about 0.15% of Tenet Healthcare worth $19,166,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of THC. Nuveen LLC purchased a new position in shares of Tenet Healthcare during the first quarter worth $218,549,000. Ameriprise Financial Inc. boosted its holdings in Tenet Healthcare by 348.4% in the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock valued at $263,905,000 after purchasing an additional 1,524,642 shares during the period. Boston Partners boosted its holdings in Tenet Healthcare by 692.9% in the first quarter. Boston Partners now owns 1,162,642 shares of the company's stock valued at $156,318,000 after purchasing an additional 1,016,010 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Tenet Healthcare by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock valued at $1,021,736,000 after purchasing an additional 463,552 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Tenet Healthcare by 45.2% in the first quarter. Victory Capital Management Inc. now owns 736,252 shares of the company's stock valued at $99,026,000 after purchasing an additional 229,197 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

THC has been the subject of a number of recent research reports. UBS Group lifted their target price on Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley lifted their price target on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Guggenheim lifted their price target on Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Bank of America lifted their price target on Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Finally, Robert W. Baird decreased their price target on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. One 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. Based on data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and an average price target of $192.69.

Tenet Healthcare Stock Performance

Shares of THC traded up $1.37 during midday trading on Wednesday, reaching $186.72. 654,061 shares of the stock were exchanged, compared to its average volume of 1,514,051. The business's 50-day moving average price is $170.76 and its 200 day moving average price is $151.92. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $187.03. The company has a market capitalization of $16.50 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 0.79 and a beta of 1.55.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. The business 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 was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, sell-side analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Activity

In other Tenet Healthcare news, Director Richard W. Fisher sold 836 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total value of $144,761.76. Following the transaction, the director directly owned 11,292 shares of the company's stock, valued at approximately $1,955,322.72. The trade was a 6.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Paola M. Arbour sold 7,738 shares of Tenet Healthcare stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the completion of the sale, the executive vice president directly owned 20,110 shares in the company, valued at approximately $3,479,030. The trade was a 27.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,534 shares of company stock valued at $3,618,237. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare 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.