Atria Wealth Solutions Inc. Trims Stock Holdings in Tenet Healthcare Corporation $THC

Atria Wealth Solutions Inc. cut its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 3,348 shares of the company’s stock after selling 130 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Tenet Healthcare were worth $588,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in Tenet Healthcare by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock worth $1,021,736,000 after purchasing an additional 463,552 shares during the period. Ameriprise Financial Inc. increased its stake in Tenet Healthcare by 348.4% during the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company’s stock worth $263,905,000 after purchasing an additional 1,524,642 shares during the period. Dimensional Fund Advisors LP increased its stake in Tenet Healthcare by 12.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company’s stock worth $225,297,000 after purchasing an additional 181,667 shares during the period. Nuveen LLC purchased a new stake in Tenet Healthcare during the first quarter worth about $218,549,000. Finally, Boston Partners increased its stake in Tenet Healthcare by 692.9% during the first quarter. Boston Partners now owns 1,162,642 shares of the company’s stock worth $156,318,000 after purchasing an additional 1,016,010 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total value of $697,093.28. Following the completion of the sale, the director directly owned 12,358 shares of the company’s stock, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 368,683 shares of the company’s stock, 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 ninety days, insiders sold 90,722 shares of company stock valued at $17,161,015. 0.81% of the stock is currently owned by company insiders.

Tenet Healthcare Stock Performance

Shares of THC opened at $199.89 on Monday. The stock has a 50 day moving average price of $189.23 and a 200 day moving average price of $167.26. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 0.86 and a beta of 1.52. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $207.14.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $1.18. The firm had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on THC shares. Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Bank of America boosted their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Robert W. Baird lowered their price objective on Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Guggenheim boosted their price objective on Tenet Healthcare from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Finally, KeyCorp boosted their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. One research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $209.25.

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.