Tenet Healthcare Corporation $THC Shares Bought by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Tenet Healthcare Corporation by 27.7%, acquiring an additional 27,995 shares, bringing its total ownership to 129,186 shares valued at approximately $17.4 million.
• Tenet Healthcare reported a strong quarterly performance with $4.02 earnings per share, surpassing analysts' expectations of $2.84 and reflecting a year-over-year revenue increase of 3.2% to $5.27 billion.
• Institutional investors own 95.44% of Tenet Healthcare's stock, indicating strong institutional interest and confidence in the company's performance.

Voya Investment Management LLC grew its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 27.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 129,186 shares of the company's stock after acquiring an additional 27,995 shares during the period. Voya Investment Management LLC owned about 0.14% of Tenet Healthcare worth $17,376,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Tenet Healthcare in the 1st quarter valued at $26,000. Wayfinding Financial LLC purchased a new stake in Tenet Healthcare in the 1st quarter valued at $28,000. SVB Wealth LLC purchased a new stake in Tenet Healthcare in the 1st quarter valued at $30,000. N.E.W. Advisory Services LLC purchased a new stake in Tenet Healthcare in the 1st quarter valued at $31,000. Finally, Brooklyn Investment Group raised its position in Tenet Healthcare by 908.7% in the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company's stock valued at $31,000 after purchasing an additional 209 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Down 0.1%

Shares of Tenet Healthcare stock traded down $0.20 during mid-day trading on Friday, hitting $190.09. 3,491,692 shares of the stock were exchanged, compared to its average volume of 1,084,422. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $199.99. The stock has a market capitalization of $16.79 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.55. The company has a 50-day simple moving average of $175.25 and a 200 day simple moving average of $157.09. 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 released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $5.16 billion. During the same period last year, the company earned $2.31 EPS. The firm's revenue for the quarter 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. Research analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Transactions at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the transaction, the executive vice president owned 20,878 shares in the company, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Saumya Sutaria sold 78,762 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the completion of the transaction, the chief executive officer owned 368,683 shares in the company, valued at $70,337,342.74. The trade was a 17.60% decrease in their position. 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 three months. Company insiders own 0.81% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on THC. Barclays upped their price objective on shares of Tenet Healthcare from $208.00 to $229.00 and gave the stock an "overweight" rating in a research report on Thursday. Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Raymond James Financial restated an "outperform" rating and set a $200.00 price objective (up previously from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. Wolfe Research downgraded shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 28th. Finally, Wells Fargo & Company upped their price target 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. One investment 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $196.81.

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.