Norden Group LLC Purchases 2,454 Shares of Tenet Healthcare Corporation $THC

Norden Group LLC increased its stake in Tenet Healthcare Corporation (NYSE:THC) by 89.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,206 shares of the company’s stock after buying an additional 2,454 shares during the period. Norden Group LLC’s holdings in Tenet Healthcare were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $26,000. Wayfinding Financial LLC purchased a new stake in shares of Tenet Healthcare in the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth $30,000. N.E.W. Advisory Services LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth $31,000. Finally, Brooklyn Investment Group increased its holdings in shares of Tenet Healthcare by 908.7% in the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock worth $31,000 after purchasing an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the business’s stock in a transaction dated 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 sale, the director owned 12,358 shares of the company’s stock, valued at approximately $2,179,827.62. The trade was a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Saumya Sutaria sold 78,762 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,722 shares of company stock valued at $17,161,015. Company insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on THC shares. Stephens raised Tenet Healthcare to a “strong-buy” rating in a report on Monday, June 2nd. Mizuho lifted their target price on Tenet Healthcare from $184.00 to $194.00 and gave the stock an “outperform” rating in a report on Friday, July 11th. Morgan Stanley lifted their target price on Tenet Healthcare from $175.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, June 9th. Truist Financial lifted their price objective on Tenet Healthcare from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, Guggenheim lifted their price objective on Tenet Healthcare from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.81.

Tenet Healthcare Stock Performance

NYSE:THC opened at $196.61 on Thursday. The stock has a 50-day simple moving average of $176.44 and a two-hundred day simple moving average of $158.50. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $199.99. 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 capitalization of $17.37 billion, a PE ratio of 12.59, a P/E/G ratio of 0.83 and a beta of 1.55.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $1.18. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The business had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. Tenet Healthcare’s revenue for the quarter was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Analysts forecast 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.