Legal & General Group Plc Sells 546 Shares of Tenet Healthcare Corporation $THC

Legal & General Group Plc lowered its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,157 shares of the company’s stock after selling 546 shares during the quarter. Legal & General Group Plc’s holdings in Tenet Healthcare were worth $28,892,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in THC. Nuveen LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at about $218,549,000. Ameriprise Financial Inc. lifted its stake in Tenet Healthcare by 348.4% in the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company’s stock valued at $263,905,000 after buying an additional 1,524,642 shares during the period. Boston Partners boosted its holdings in shares of Tenet Healthcare by 94.2% during the 2nd quarter. Boston Partners now owns 2,258,272 shares of the company’s stock worth $397,388,000 after buying an additional 1,095,630 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Tenet Healthcare by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock valued at $1,021,736,000 after acquiring an additional 463,552 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position 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 valued at $63,152,000 after acquiring an additional 247,314 shares during the period. 95.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Morgan Stanley set a $232.00 price target on shares of Tenet Healthcare and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Bank of America raised their target price on Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. UBS Group upped their price target on Tenet Healthcare from $238.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. raised their price objective on Tenet Healthcare from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Finally, Truist Financial reaffirmed a “buy” rating and set a $240.00 target price (up from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $229.69.

Insider Activity

In related news, Director Richard W. Fisher sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total transaction of $521,075.00. Following the transaction, the director directly owned 8,792 shares of the company’s stock, valued at $1,832,516.56. This trade represents a 22.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tammy Romo sold 645 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $205.20, for a total transaction of $132,354.00. Following the completion of the sale, the director directly owned 34,866 shares of the company’s stock, valued at $7,154,503.20. The trade was a 1.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 122,084 shares of company stock worth $23,843,196. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC opened at $217.52 on Thursday. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $221.00. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.63 and a current ratio of 1.71. The stock has a 50 day moving average price of $200.69 and a two-hundred day moving average price of $181.56. The firm has a market capitalization of $19.12 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.89 and a beta of 1.53.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.37. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the previous year, the firm earned $2.93 earnings per share. Tenet Healthcare’s quarterly revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Equities analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal 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.