Versor Investments LP Trims Position in Tenet Healthcare Corporation $THC

Key Points

• Versor Investments LP has reduced its stake in Tenet Healthcare Corporation by 69.8%, now holding shares valued at $373,000 following the sale of 6,426 shares.
• Several analysts have adjusted their price targets for Tenet Healthcare, with JPMorgan Chase raising it from $190.00 to $200.00, categorizing the stock as "overweight".
• Tenet Healthcare's stock performance shows a recent opening price of $182.07, with a 12-month range between $109.82 and $185.25, indicating significant volatility in the market.

Versor Investments LP lessened its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 69.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,774 shares of the company's stock after selling 6,426 shares during the period. Versor Investments LP's holdings in Tenet Healthcare were worth $373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THC. Mariner LLC boosted its position in Tenet Healthcare by 24.6% in the 4th quarter. Mariner LLC now owns 8,604 shares of the company's stock valued at $1,086,000 after buying an additional 1,697 shares during the period. GeoWealth Management LLC lifted its position in shares of Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after purchasing an additional 84 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Tenet Healthcare by 11.6% during the 4th quarter. First Trust Advisors LP now owns 305,858 shares of the company's stock worth $38,608,000 after purchasing an additional 31,815 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock worth $188,524,000 after purchasing an additional 272,906 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Tenet Healthcare by 8.3% during the 4th quarter. MetLife Investment Management LLC now owns 53,607 shares of the company's stock worth $6,767,000 after purchasing an additional 4,093 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 $0.45 during trading on Monday, reaching $179.95. The company's stock had a trading volume of 301,987 shares, compared to its average volume of 1,532,825. 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 $15.90 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 0.77 and a beta of 1.52. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $185.25. The business's fifty day moving average price is $168.67 and its 200-day moving average price is $149.71.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued 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 business had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same period in the previous year, the business posted $2.31 earnings per share. The business'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. As a group, analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. The Goldman Sachs Group boosted their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. UBS Group boosted their price target on shares of Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley boosted their price target on shares of Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Finally, Royal Bank Of Canada boosted their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $191.88.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 3,077 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $165.72, for a total value of $509,920.44. Following the sale, the director owned 12,128 shares of the company's stock, valued at $2,009,852.16. This represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $697,093.28. Following the completion of the sale, the director directly 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. Insiders sold a total of 30,989 shares of company stock valued at $5,369,512 in the last ninety days. Company insiders own 0.81% of the company's stock.

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.