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

Key Points

• Teza Capital Management LLC has reduced its stake in Tenet Healthcare Corporation by 47% during the first quarter, leaving them with 5,904 shares valued at approximately $794,000.
• A number of large investors, including Nuveen LLC and Ameriprise Financial Inc., have also made significant changes to their positions in Tenet Healthcare, with Ameriprise increasing its stake by 348.4%.
• Tenet Healthcare reported an earnings per share (EPS) of $4.02 for the last quarter, exceeding analysts' expectations, while guiding for FY 2025 EPS between 15.550 and 16.210.

Teza Capital Management LLC lowered its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 47.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,904 shares of the company's stock after selling 5,237 shares during the quarter. Teza Capital Management LLC's holdings in Tenet Healthcare were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in THC. Nuveen LLC bought a new position in Tenet Healthcare during the first quarter worth $218,549,000. Ameriprise Financial Inc. lifted 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 purchasing an additional 1,524,642 shares during the last quarter. Boston Partners lifted 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 purchasing an additional 1,016,010 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Tenet Healthcare by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock worth $1,021,736,000 after purchasing an additional 463,552 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Tenet Healthcare by 111.3% during 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 during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on THC shares. Cantor Fitzgerald restated an "overweight" rating and set a $190.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, August 26th. Wolfe Research cut Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. raised their target price on Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Robert W. Baird cut their price objective on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. 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 research note on Thursday, July 24th. 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 stock. According to MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and an average price target of $192.69.

Insider Transactions at Tenet Healthcare

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

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $196.40 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The company's 50-day moving average price is $171.97 and its two-hundred day moving average price is $153.11. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $196.73. The stock has a market cap of $17.35 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.84 and a beta of 1.55.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued 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. The firm had revenue of $5.27 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, sell-side analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

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.

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