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

Intech Investment Management LLC reduced its stake in Tenet Healthcare Corporation (NYSE:THC) by 27.9% in the second quarter, Holdings Channel.com reports. The fund owned 128,523 shares of the company’s stock after selling 49,786 shares during the period. Intech Investment Management LLC’s holdings in Tenet Healthcare were worth $22,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its holdings in Tenet Healthcare by 0.4% during the 2nd quarter. Cetera Investment Advisers now owns 28,924 shares of the company’s stock valued at $5,091,000 after buying an additional 104 shares in the last quarter. Creative Planning increased its holdings in shares of Tenet Healthcare by 7.4% in the second quarter. Creative Planning now owns 14,980 shares of the company’s stock worth $2,636,000 after purchasing an additional 1,035 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Tenet Healthcare by 5.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,865 shares of the company’s stock worth $4,200,000 after acquiring an additional 1,133 shares during the last quarter. Donoghue Forlines LLC bought a new stake in shares of Tenet Healthcare during the 2nd quarter valued at about $2,947,000. Finally, Oak Harvest Investment Services purchased a new position in shares of Tenet Healthcare during the second quarter worth about $245,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 2.2%

Shares of NYSE THC opened at $192.30 on Friday. The company has a market cap of $16.90 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 0.89 and a beta of 1.53. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. The firm’s fifty day moving average is $198.89 and its 200 day moving average is $178.33. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $217.43.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data 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 firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.93 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. On average, equities research analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other news, CEO Saumya Sutaria sold 78,762 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the transaction, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Scott Ramsey sold 13,322 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $205.11, for a total value of $2,732,475.42. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 134,044 shares of company stock worth $25,977,997. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

THC has been the subject of several research analyst reports. Bank of America lifted their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. KeyCorp lifted their price target on Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Guggenheim raised their price objective on Tenet Healthcare from $221.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Truist Financial reiterated a “buy” rating and set a $240.00 price target (up from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. Finally, Robert W. Baird reduced their target price on shares of Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Tenet Healthcare 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.