Tenet Healthcare Corporation $THC Shares Sold by Silvant Capital Management LLC

Key Points

• Silvant Capital Management LLC reduced its stake in Tenet Healthcare Corporation by 82.5%, holding only 8,513 shares after selling 40,257 shares during the first quarter.
• Several hedge funds increased their holdings in Tenet Healthcare, with MML Investors Services LLC boosting their stake by 69.0% in the last quarter, reflecting a positive trend among institutional investors.
• Analysts have raised their price targets for Tenet Healthcare, with Bank of America increasing it from $165 to $180 and JPMorgan raising it from $190 to $200, indicating a strong outlook for the company.

Silvant Capital Management LLC trimmed its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 82.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,513 shares of the company's stock after selling 40,257 shares during the period. Silvant Capital Management LLC's holdings in Tenet Healthcare were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $26,000. Wayfinding Financial LLC acquired a new stake in Tenet Healthcare in the 1st quarter valued at about $28,000. SVB Wealth LLC purchased a new position in Tenet Healthcare in the 1st quarter valued at about $30,000. Colonial Trust Co SC lifted 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 valued at $31,000 after purchasing an additional 114 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in Tenet Healthcare in the 1st quarter valued at about $31,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Trading Down 0.2%

Shares of THC stock traded down $0.41 during trading hours on Friday, hitting $184.12. 918,320 shares of the company were exchanged, compared to its average volume of 932,302. The firm has a market cap of $16.27 billion, a PE ratio of 11.79, a PEG ratio of 0.79 and a beta of 1.52. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $185.25. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. The firm has a fifty day moving average of $170.19 and a 200 day moving average of $151.21.

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, beating the consensus estimate of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same quarter last year, the firm posted $2.31 earnings per share. Tenet Healthcare's revenue for the quarter 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. Analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the transaction, the executive vice president owned 20,878 shares in the company, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher S. Lynch sold 3,952 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the transaction, the director owned 12,358 shares in the company, valued at $2,179,827.62. The trade was a 24.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,534 shares of company stock worth $3,618,237. 0.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on THC shares. The Goldman Sachs Group upped their target price on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $190.00 target price on shares of Tenet Healthcare in a report on Tuesday, August 26th. Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Mizuho upped their target price on shares of Tenet Healthcare from $184.00 to $194.00 and gave the company an "outperform" rating in a report on Friday, July 11th. Finally, Barclays cut their price objective on shares of Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Tenet Healthcare has an average rating of "Moderate Buy" and a consensus target price of $192.69.

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.