Vanguard Personalized Indexing Management LLC Raises Position in Tenet Healthcare Corporation $THC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Tenet Healthcare Corporation by 13.6%, owning a total of 10,876 shares valued at approximately $1.91 million.
• Tenet Healthcare's quarterly earnings showed earnings per share of $4.02, significantly exceeding analysts' expectations of $2.84, with revenues reaching $5.27 billion.
• Several analysts have upgraded their price targets for Tenet Healthcare, with Bank of America and KeyCorp raising targets to $225.00 and $225.00 respectively, reflecting positive sentiment with a predominant rating of "Buy".

Vanguard Personalized Indexing Management LLC increased its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 13.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,876 shares of the company's stock after buying an additional 1,303 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Tenet Healthcare were worth $1,914,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Concurrent Investment Advisors LLC raised its position in shares of Tenet Healthcare by 4.6% in the second quarter. Concurrent Investment Advisors LLC now owns 5,048 shares of the company's stock worth $888,000 after buying an additional 224 shares in the last quarter. Sivik Global Healthcare LLC raised its position in shares of Tenet Healthcare by 21.4% in the second quarter. Sivik Global Healthcare LLC now owns 85,000 shares of the company's stock worth $14,960,000 after buying an additional 15,000 shares in the last quarter. Blue Trust Inc. raised its position in Tenet Healthcare by 58.5% during the second quarter. Blue Trust Inc. now owns 271 shares of the company's stock valued at $48,000 after purchasing an additional 100 shares in the last quarter. Live Oak Investment Partners purchased a new stake in Tenet Healthcare during the second quarter valued at about $1,478,000. Finally, Venturi Wealth Management LLC purchased a new stake in Tenet Healthcare during the second quarter valued at about $221,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Down 0.1%

Shares of NYSE:THC opened at $199.08 on Friday. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $207.14. The stock has a market capitalization of $17.59 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 0.85 and a beta of 1.52. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The stock's 50-day moving average price is $188.54 and its 200-day moving average price is $166.36.

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, beating 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 company had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter in the previous year, the business earned $2.31 EPS. Tenet Healthcare's 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 analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America raised their price target on Tenet Healthcare from $205.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. UBS Group raised their price target on Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. KeyCorp raised their price target on Tenet Healthcare from $205.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, October 8th. Barclays raised their price objective on Tenet Healthcare from $208.00 to $229.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Finally, Truist Financial set a $225.00 price objective on Tenet Healthcare in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $207.31.

Insider Activity at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 8,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the transaction, the executive vice president owned 20,878 shares in the company, valued at $3,748,227.34. The trade was a 27.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the sale, the chief executive officer directly owned 368,683 shares in the company, valued at approximately $70,337,342.74. The trade was a 17.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,722 shares of company stock worth $17,161,015 in the last 90 days. Company 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.

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