Khrom Capital Management LLC Increases Stake in Tenet Healthcare Corporation $THC

Key Points

• Khrom Capital Management LLC increased its stake in Tenet Healthcare Corporation by 74.4%, owning 471,222 shares valued at approximately $63.4 million, making it the company's 5th biggest holding.
• Tenet Healthcare reported a Q2 EPS of $4.02, surpassing expectations, with a revenue of $5.27 billion, marking a 3.2% increase year-over-year.
• Analysts have set new price targets for Tenet Healthcare, with ratings ranging from "Strong Buy" to "Hold," and the consensus target price currently at $192.69.

Khrom Capital Management LLC boosted its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 74.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 471,222 shares of the company's stock after acquiring an additional 200,999 shares during the period. Tenet Healthcare accounts for about 8.5% of Khrom Capital Management LLC's holdings, making the stock its 5th biggest position. Khrom Capital Management LLC owned about 0.51% of Tenet Healthcare worth $63,379,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. US Bancorp DE lifted its position in 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 during the last quarter. Lindbrook Capital LLC grew its position in shares of Tenet Healthcare by 5.3% during the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company's stock worth $192,000 after buying an additional 72 shares in the last quarter. Covestor Ltd raised its position in Tenet Healthcare by 10.4% in the first quarter. Covestor Ltd now owns 873 shares of the company's stock worth $117,000 after acquiring an additional 82 shares in the last quarter. Colonial Trust Co SC grew its stake in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after acquiring an additional 114 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Tenet Healthcare by 24.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 585 shares of the company's stock valued at $78,000 after buying an additional 114 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Up 1.6%

Shares of NYSE:THC traded up $3.11 during midday trading on Friday, hitting $195.63. 424,547 shares of the stock were exchanged, compared to its average volume of 1,505,865. 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 market capitalization of $17.28 billion, a PE ratio of 12.52, a P/E/G ratio of 0.80 and a beta of 1.55. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $196.62. The business's fifty day simple moving average is $171.51 and its two-hundred day simple moving average is $152.57.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter last year, the company posted $2.31 earnings per share. The company'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. As a group, research analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 sale, the director directly owned 12,358 shares of the company's stock, valued at $2,179,827.62. This represents a 24.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction on 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 sale, the executive vice president 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,960 shares of company stock valued at $2,134,801. Company insiders own 0.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Robert W. Baird lowered their price objective on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Raymond James Financial reaffirmed an "outperform" rating and set a $200.00 target price (up from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. Wells Fargo & Company raised their price objective on Tenet Healthcare from $195.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Mizuho increased their price objective on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. Finally, UBS Group raised their price target on shares of Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $192.69.

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.