Whalen Wealth Management Inc. Reduces Position in Tenet Healthcare Corporation $THC

Whalen Wealth Management Inc. lessened its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 17.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,647 shares of the company’s stock after selling 545 shares during the quarter. Whalen Wealth Management Inc.’s holdings in Tenet Healthcare were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of THC. Nuveen LLC purchased a new position in shares of Tenet Healthcare during the 1st quarter worth $218,549,000. Ameriprise Financial Inc. boosted its stake in shares of Tenet Healthcare by 348.4% during the 1st quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company’s stock worth $263,905,000 after acquiring an additional 1,524,642 shares during the last quarter. Boston Partners boosted its stake in shares of Tenet Healthcare by 692.9% during 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. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 worth $1,021,736,000 after acquiring an additional 463,552 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Tenet Healthcare by 111.3% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 469,529 shares of the company’s stock worth $63,152,000 after acquiring an additional 247,314 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

In other news, 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 sale, the chief executive officer directly owned 368,683 shares in the company, valued at $70,337,342.74. The trade was a 17.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 in the company, valued at approximately $2,179,827.62. This trade represents a 24.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 90,722 shares of company stock worth $17,161,015 in the last three months. Insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of NYSE THC opened at $204.86 on Wednesday. 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 company has a market cap of $18.10 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.93 and a beta of 1.52. The firm’s fifty day moving average is $194.16 and its two-hundred day moving average is $171.31. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $217.43.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. Tenet Healthcare’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.93 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on THC shares. Wells Fargo & Company lifted their target price on shares of Tenet Healthcare from $200.00 to $238.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Barclays lifted their target price on shares of Tenet Healthcare from $208.00 to $229.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. KeyCorp lifted their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $190.00 target price on shares of Tenet Healthcare in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $209.25.

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.