Tenet Healthcare Corporation $THC Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Tenet Healthcare Corporation by 339.0% in the first quarter, owning approximately $3.18 million worth of shares post-acquisition.
• Insider trading observed significant sales, including CEO Saumya Sutaria selling 78,762 shares valued at over $15 million, reducing his stake by 17.60%.
• Despite a 0.4% drop in stock price, Tenet Healthcare reported a $4.02 EPS for the last quarter, exceeding estimates by $1.18, and set FY 2025 guidance of 15.550-16.210 EPS.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 339.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,635 shares of the company's stock after buying an additional 18,251 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Tenet Healthcare were worth $3,179,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of THC. Deutsche Bank AG grew its position in shares of Tenet Healthcare by 99.3% in the 4th quarter. Deutsche Bank AG now owns 76,048 shares of the company's stock worth $9,600,000 after buying an additional 37,890 shares during the last quarter. Focus Partners Wealth grew its position in shares of Tenet Healthcare by 125.1% in the 4th quarter. Focus Partners Wealth now owns 5,002 shares of the company's stock worth $631,000 after buying an additional 2,780 shares during the last quarter. Man Group plc grew its position in shares of Tenet Healthcare by 21.4% in the 4th quarter. Man Group plc now owns 86,005 shares of the company's stock worth $10,856,000 after buying an additional 15,164 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Tenet Healthcare by 6.5% in the 4th quarter. ProShare Advisors LLC now owns 4,449 shares of the company's stock worth $562,000 after buying an additional 272 shares during the last quarter. Finally, Redwood Investment Management LLC grew its position in shares of Tenet Healthcare by 4.5% in the 4th quarter. Redwood Investment Management LLC now owns 11,375 shares of the company's stock worth $1,436,000 after buying an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Performance

NYSE THC traded up $6.93 during mid-day trading on Thursday, reaching $190.40. 1,174,669 shares of the stock were exchanged, compared to its average volume of 1,068,109. The business's 50 day moving average is $174.96 and its 200-day moving average is $156.62. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $199.99. The company has a market capitalization of $16.82 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.79 and a beta of 1.55. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.16 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The firm's quarterly revenue 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. On average, equities research analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Robert W. Baird lowered their target price on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Wolfe Research cut shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Truist Financial lifted their target price on shares of Tenet Healthcare from $190.00 to $205.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Finally, Bank of America lifted their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and an average price target of $196.81.

Insider Buying and Selling

In related news, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction 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 sale, the director directly owned 12,358 shares of the company's stock, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Saumya Sutaria sold 78,762 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the transaction, the chief executive officer owned 368,683 shares of the company's stock, valued at $70,337,342.74. This represents a 17.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,722 shares of company stock valued at $17,161,015. Corporate insiders own 0.81% of the company's stock.

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.