IFP Advisors Inc Sells 185 Shares of Tenet Healthcare Corporation $THC

IFP Advisors Inc trimmed its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 3.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,781 shares of the company’s stock after selling 185 shares during the quarter. IFP Advisors Inc’s holdings in Tenet Healthcare were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Tenet Healthcare during the first quarter valued at $26,000. Chung Wu Investment Group LLC bought a new position in shares of Tenet Healthcare in the second quarter worth $35,000. Wayfinding Financial LLC bought a new position in shares of Tenet Healthcare in the first quarter worth $28,000. SVB Wealth LLC bought a new position in shares of Tenet Healthcare in the first quarter worth $30,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Tenet Healthcare in the first quarter worth $31,000. 95.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the sale, the director directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction that occurred on 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 sale, the executive vice president directly owned 20,878 shares in the company, valued at approximately $3,748,227.34. The trade was a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,722 shares of company stock valued at $17,161,015. 0.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

THC has been the subject of a number of analyst reports. Mizuho raised their price target on Tenet Healthcare from $184.00 to $194.00 and gave the stock an “outperform” rating in a report on Friday, July 11th. KeyCorp raised their price target on Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $190.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company raised their price objective on Tenet Healthcare from $200.00 to $238.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.69.

Tenet Healthcare Stock Up 0.2%

NYSE THC opened at $189.94 on Tuesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. The stock has a market capitalization of $16.78 billion, a PE ratio of 12.16, a PEG ratio of 0.81 and a beta of 1.52. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $207.14. The business’s 50-day moving average is $186.34 and its 200 day moving average is $165.48.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $1.18. The company had revenue of $5.27 billion for 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%.Tenet Healthcare’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Sell-side analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share 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.