Wealth Enhancement Advisory Services LLC Has $2.96 Million Position in Tenet Healthcare Corporation $THC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Tenet Healthcare Corporation by 110.9%, owning 17,266 shares valued at approximately $2.96 million as of the last reporting period.
• Multiple brokerages have recently upgraded Tenet Healthcare's stock, with ratings ranging from "strong buy" to "outperform," indicating a positive outlook among analysts.
• Insider trading activity showed significant share sales by executives, including a sale of 78,762 shares by CEO Saumya Sutaria for over $15 million, reflecting a potential shift in confidence among top management.

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 110.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 17,266 shares of the company's stock after purchasing an additional 9,081 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Tenet Healthcare were worth $2,961,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vise Technologies Inc. grew its stake in shares of Tenet Healthcare by 28.4% in the fourth quarter. Vise Technologies Inc. now owns 1,613 shares of the company's stock worth $204,000 after acquiring an additional 357 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Tenet Healthcare in the 4th quarter worth $8,783,000. Versant Capital Management Inc raised its position in shares of Tenet Healthcare by 46.2% during the first quarter. Versant Capital Management Inc now owns 718 shares of the company's stock valued at $97,000 after buying an additional 227 shares during the last quarter. Capital Market Strategies LLC acquired a new stake in Tenet Healthcare during the first quarter worth about $202,000. Finally, GAMMA Investing LLC raised its holdings in Tenet Healthcare by 17,134.3% in the 1st quarter. GAMMA Investing LLC now owns 192,335 shares of the company's stock valued at $25,869,000 after acquiring an additional 191,219 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on THC. Stephens raised Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Mizuho boosted their price target on shares of Tenet Healthcare from $184.00 to $194.00 and gave the company an "outperform" rating in a report on Friday, July 11th. Robert W. Baird reduced their price objective on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $200.00 price objective (up from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $196.81.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 8,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 20,878 shares of the company's stock, valued at approximately $3,748,227.34. The trade was a 27.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Saumya Sutaria sold 78,762 shares of the 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 sale, the chief executive officer directly owned 368,683 shares in the company, valued at $70,337,342.74. This trade represents a 17.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,722 shares of company stock worth $17,161,015. 0.81% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Performance

NYSE THC opened at $202.06 on Friday. The firm has a market cap of $17.85 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.84 and a beta of 1.55. 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 Corporation has a 1-year low of $109.82 and a 1-year high of $202.15. The company has a 50 day moving average of $177.41 and a 200-day moving average of $159.51.

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 for the quarter, beating analysts' consensus estimates of $2.84 by $1.18. The firm had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The business's revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, equities analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal 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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