United Services Automobile Association Invests $821,000 in Tenet Healthcare Corporation $THC

Key Points

• United Services Automobile Association has invested approximately $821,000 in Tenet Healthcare Corporation by purchasing 6,170 shares during the first quarter.
• Analysts have set a consensus rating of "Moderate Buy" for Tenet Healthcare, with an average price target of $192.69 reflecting positive sentiment for the stock.
• Insider transactions have occurred recently, with significant sales from director Christopher S. Lynch and EVP Lisa Y. Foo, indicating notable executive activity in the stock.

United Services Automobile Association acquired a new stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 6,170 shares of the company's stock, valued at approximately $821,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. US Bancorp DE lifted its holdings in Tenet Healthcare by 0.8% during the first quarter. US Bancorp DE now owns 8,620 shares of the company's stock worth $1,159,000 after acquiring an additional 68 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in 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 acquiring an additional 72 shares in the last quarter. Covestor Ltd lifted its holdings in Tenet Healthcare by 10.4% during 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. Smartleaf Asset Management LLC raised its stake in shares of Tenet Healthcare by 24.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 585 shares of the company's stock valued at $78,000 after purchasing an additional 114 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in shares of Tenet Healthcare by 2.7% in the 1st quarter. Meeder Asset Management Inc. now owns 4,521 shares of the company's stock valued at $608,000 after purchasing an additional 118 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Insider Transactions at Tenet Healthcare

In other news, Director Christopher S. Lynch sold 3,952 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction 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. The trade was a 24.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lisa Y. Foo sold 8,000 shares of the business's stock in a transaction that occurred 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 represents a 27.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,960 shares of company stock valued at $2,134,801 in the last quarter. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on THC. Wolfe Research downgraded Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Stephens raised Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Cantor Fitzgerald reissued an "overweight" rating and issued a $190.00 price target on shares of Tenet Healthcare in a research note on Tuesday, August 26th. Robert W. Baird dropped their price target on 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, Raymond James Financial reaffirmed an "outperform" rating and issued a $200.00 target price (up previously from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $195.50.

Tenet Healthcare Stock Performance

Tenet Healthcare stock traded down $0.78 during midday trading on Friday, reaching $192.60. 889,220 shares of the company's stock were exchanged, compared to its average volume of 1,506,589. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $199.99. 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 firm has a market cap of $17.02 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 0.82 and a beta of 1.55. The stock's 50-day simple moving average is $173.49 and its 200 day simple moving average is $154.64.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The business 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. Tenet Healthcare's quarterly revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share 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.