Tran Capital Management L.P. Makes New Investment in Tenet Healthcare Corporation $THC

Key Points

• Tran Capital Management L.P. has acquired a new position in Tenet Healthcare Corporation, purchasing 35,438 shares valued at approximately $6.24 million during the second quarter.
• Tenet Healthcare reported earnings of $4.02 per share for the last quarter, exceeding analysts' estimates of $2.84 and showing a 3.2% increase in quarterly revenue compared to the previous year.
• Analysts have varied in their ratings, with some upgrading Tenet Healthcare to a “strong-buy” and others lowering ratings, while the stock has an average target price of $196.81.

Tran Capital Management L.P. acquired a new position in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,438 shares of the company's stock, valued at approximately $6,237,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new position in Tenet Healthcare in the first quarter worth $212,000. Envestnet Asset Management Inc. boosted its stake in Tenet Healthcare by 3.3% in the first quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company's stock worth $27,382,000 after purchasing an additional 6,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tenet Healthcare by 65.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company's stock worth $189,000 after purchasing an additional 562 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Tenet Healthcare by 34.0% during the first quarter. Royal Bank of Canada now owns 119,349 shares of the company's stock valued at $16,052,000 after acquiring an additional 30,281 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Tenet Healthcare by 28.1% during the first quarter. GAMMA Investing LLC now owns 1,430 shares of the company's stock valued at $192,000 after acquiring an additional 314 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wolfe Research lowered Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. raised their price target on Tenet Healthcare from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $190.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $196.81.

Tenet Healthcare Trading Down 0.1%

Shares of THC stock opened at $190.09 on Friday. The firm has a market capitalization of $16.79 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.81 and a beta of 1.55. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $199.99. 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 stock's fifty day simple moving average is $175.25 and its 200 day simple moving average is $157.30.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. The business had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.Tenet Healthcare's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, sell-side analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 78,762 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total value of $15,026,214.36. Following the sale, the chief executive officer owned 368,683 shares in the company, valued at approximately $70,337,342.74. The trade was a 17.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 sale, the director owned 12,358 shares in the company, valued at $2,179,827.62. This trade represents a 24.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,722 shares of company stock worth $17,161,015. Insiders own 0.81% of the company's stock.

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.

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