Tocqueville Asset Management L.P. Buys New Shares in Tenet Healthcare Corporation $THC

Key Points

• Tocqueville Asset Management L.P. has acquired a new stake in Tenet Healthcare Corporation, purchasing 2,018 shares valued at approximately $271,000.
• Analysts have raised their price targets for Tenet Healthcare shares, with Royal Bank of Canada setting a target of $189.00 and Morgan Stanley raising theirs to $210.00, reflecting strong market sentiment toward the stock.
• Tenet Healthcare reported an EPS of $4.02 for the last quarter, surpassing analysts' expectations of $2.84, while achieving a revenue of $5.27 billion.

Tocqueville Asset Management L.P. bought a new stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,018 shares of the company's stock, valued at approximately $271,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brandywine Global Investment Management LLC grew its holdings in Tenet Healthcare by 84.5% in the first quarter. Brandywine Global Investment Management LLC now owns 95,329 shares of the company's stock valued at $12,822,000 after purchasing an additional 43,648 shares during the last quarter. Sector Gamma AS grew its holdings in Tenet Healthcare by 95.5% in the first quarter. Sector Gamma AS now owns 43,000 shares of the company's stock valued at $5,784,000 after purchasing an additional 21,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Tenet Healthcare by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock valued at $225,297,000 after purchasing an additional 181,667 shares during the last quarter. Sit Investment Associates Inc. grew its holdings in Tenet Healthcare by 1.4% in the first quarter. Sit Investment Associates Inc. now owns 40,675 shares of the company's stock valued at $5,471,000 after purchasing an additional 580 shares during the last quarter. Finally, Boston Partners grew 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 last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Stock Up 1.2%

NYSE:THC traded up $2.18 during trading hours on Friday, hitting $179.57. 924,160 shares of the stock traded hands, compared to its average volume of 1,540,597. The firm has a 50 day moving average price of $168.36 and a 200 day moving average price of $149.36. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.78 and a beta of 1.52. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $185.25. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (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 company had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same quarter last year, the business posted $2.31 EPS. The company's revenue for the quarter was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Equities research analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Fisher sold 3,077 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total transaction of $509,920.44. Following the completion of the sale, the director owned 12,128 shares of the company's stock, valued at $2,009,852.16. The trade was a 20.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,989 shares of company stock worth $3,933,272 over the last quarter. 0.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

THC has been the subject of a number of analyst reports. Truist Financial boosted their price target on Tenet Healthcare from $190.00 to $205.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Wells Fargo & Company lifted their target price on shares of Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. lifted their target price on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Royal Bank Of Canada lifted their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Guggenheim lifted their target price on shares of Tenet Healthcare from $180.00 to $188.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and an average price target of $191.88.

About Tenet Healthcare

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.