Inspire Investing LLC Sells 340 Shares of Tenet Healthcare Corporation $THC

Inspire Investing LLC trimmed its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,156 shares of the company’s stock after selling 340 shares during the quarter. Inspire Investing LLC’s holdings in Tenet Healthcare were worth $828,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Strs Ohio bought a new position in Tenet Healthcare during the first quarter worth about $1,550,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Tenet Healthcare by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,969 shares of the company’s stock worth $37,252,000 after acquiring an additional 12,914 shares during the period. Empowered Funds LLC increased its position in Tenet Healthcare by 19.6% during the first quarter. Empowered Funds LLC now owns 154,754 shares of the company’s stock worth $20,814,000 after acquiring an additional 25,323 shares during the period. United Services Automobile Association bought a new position in Tenet Healthcare during the first quarter worth about $821,000. Finally, Fred Alger Management LLC bought a new position in Tenet Healthcare during the first quarter worth about $2,652,000. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Trading Down 0.4%

THC opened at $192.60 on Friday. The company’s 50 day moving average is $173.91 and its 200-day moving average is $155.04. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $199.99. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The company has a market cap of $17.02 billion, a P/E ratio of 12.33, a PEG ratio of 0.83 and a beta of 1.55.

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

Insider Activity at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 3,952 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the completion of the transaction, the director owned 12,358 shares in the company, valued at $2,179,827.62. This trade represents a 24.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Saumya Sutaria sold 78,762 shares of the firm’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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 90,722 shares of company stock worth $17,161,015 in the last quarter. 0.81% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on THC shares. Wolfe Research downgraded shares of Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 28th. Raymond James Financial reiterated an “outperform” rating and set a $200.00 price objective (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Wells Fargo & Company increased their price objective on shares of Tenet Healthcare from $195.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Stephens upgraded shares of Tenet Healthcare to a “strong-buy” rating in a research note on Monday, June 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $190.00 price objective on shares of Tenet Healthcare in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average target price of $195.50.

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.