Intech Investment Management LLC Decreases Stock Holdings in Tenet Healthcare Corporation $THC

Intech Investment Management LLC decreased its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,309 shares of the company’s stock after selling 10,458 shares during the period. Intech Investment Management LLC owned about 0.19% of Tenet Healthcare worth $23,983,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of THC. US Bancorp DE increased its stake in shares of Tenet Healthcare by 0.8% in the first quarter. US Bancorp DE now owns 8,620 shares of the company’s stock worth $1,159,000 after purchasing an additional 68 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of Tenet Healthcare by 5.3% in the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock valued at $192,000 after purchasing an additional 72 shares in the last quarter. Covestor Ltd increased its holdings in shares of Tenet Healthcare by 10.4% in the 1st quarter. Covestor Ltd now owns 873 shares of the company’s stock worth $117,000 after buying an additional 82 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Tenet Healthcare by 24.2% in the first quarter. Smartleaf Asset Management LLC now owns 585 shares of the company’s stock worth $78,000 after acquiring an additional 114 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of Tenet Healthcare by 2.7% in the 1st quarter. Meeder Asset Management Inc. now owns 4,521 shares of the company’s stock valued at $608,000 after purchasing an additional 118 shares during the last quarter. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Stock Up 2.0%

NYSE THC opened at $196.36 on Wednesday. The company has a market capitalization of $17.35 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.82 and a beta of 1.55. The stock has a 50 day moving average price of $172.66 and a 200-day moving average price of $153.96. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $196.73.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, beating 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 firm had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter last year, the firm 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. As a group, equities analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Activity

In other news, EVP Lisa Y. Foo sold 8,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher S. Lynch sold 3,952 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the sale, the director directly owned 12,358 shares in the company, valued at approximately $2,179,827.62. The trade was a 24.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,960 shares of company stock valued at $2,134,801 in the last 90 days. Company insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on THC. Raymond James Financial restated an “outperform” rating and issued a $200.00 price target (up from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. Guggenheim increased their price target on Tenet Healthcare from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on Tenet Healthcare from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Wolfe Research downgraded shares of Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 28th. Finally, UBS Group upped their target price on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.69.

About Tenet Healthcare

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.