WCM Investment Management LLC Buys New Holdings in Tenet Healthcare Corporation $THC

Key Points

• WCM Investment Management LLC acquired a new stake in Tenet Healthcare Corporation, purchasing 148,141 shares valued at approximately $25.7 million during the 2nd quarter.
• Insider trading activity has seen significant sales, with Director Christopher S. Lynch and CEO Saumya Sutaria selling 3,952 and 78,762 shares, respectively, indicating a notable decrease in their positions.
• Analysts have mixed views on Tenet Healthcare's stock, with price targets ranging from $167 to $229 and a consensus rating of "Moderate Buy" based on recent performance and earnings results.

WCM Investment Management LLC bought a new stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 148,141 shares of the company's stock, valued at approximately $25,722,000. WCM Investment Management LLC owned 0.16% of Tenet Healthcare at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in Tenet Healthcare by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company's stock valued at $1,021,736,000 after purchasing an additional 463,552 shares during the period. Ameriprise Financial Inc. raised its stake in Tenet Healthcare by 348.4% during the 1st quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company's stock valued at $263,905,000 after purchasing an additional 1,524,642 shares during the period. Dimensional Fund Advisors LP raised its stake in Tenet Healthcare by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company's stock valued at $225,297,000 after purchasing an additional 181,667 shares during the period. Nuveen LLC bought a new stake in Tenet Healthcare in the 1st quarter worth approximately $218,549,000. Finally, Boston Partners increased its stake in Tenet Healthcare by 692.9% in the 1st quarter. Boston Partners now owns 1,162,642 shares of the company's stock worth $156,318,000 after acquiring an additional 1,016,010 shares during the last quarter. Institutional investors own 95.44% of the company's stock.

Insider Activity at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 3,952 shares of the business's stock in a transaction 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 transaction, the director owned 12,358 shares in the company, valued at $2,179,827.62. The trade was a 24.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Saumya Sutaria sold 78,762 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 368,683 shares of the company's stock, valued at approximately $70,337,342.74. The trade was a 17.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,722 shares of company stock worth $17,161,015 in the last quarter. 0.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on THC. Robert W. Baird reduced their price objective 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. KeyCorp lifted their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. Truist Financial set a $225.00 price objective on Tenet Healthcare in a research note on Tuesday. Barclays lifted their price objective on Tenet Healthcare from $208.00 to $229.00 and gave the stock an "overweight" rating in a research note on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tenet Healthcare in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average price target of $207.31.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $198.35 on Thursday. The stock has a market cap of $17.52 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.84 and a beta of 1.52. 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 stock has a 50 day moving average price of $187.83 and a 200-day moving average price of $165.92. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $207.14.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations 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. Equities analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

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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