LVW Advisors LLC Takes $216,000 Position in Tenet Healthcare Corporation $THC

LVW Advisors LLC bought a new stake in Tenet Healthcare Corporation (NYSE:THC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,225 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Tenet Healthcare in the 1st quarter valued at $212,000. Envestnet Asset Management Inc. grew its holdings in Tenet Healthcare by 3.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company’s stock valued at $27,382,000 after purchasing an additional 6,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Tenet Healthcare by 65.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company’s stock valued at $189,000 after purchasing an additional 562 shares in the last quarter. Royal Bank of Canada grew its holdings in Tenet Healthcare by 34.0% during the 1st quarter. Royal Bank of Canada now owns 119,349 shares of the company’s stock valued at $16,052,000 after purchasing an additional 30,281 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Tenet Healthcare by 28.1% during the 1st quarter. GAMMA Investing LLC now owns 1,430 shares of the company’s stock valued at $192,000 after purchasing an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the sale, the director directly 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 document filed with the SEC, which is available through this hyperlink. Also, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the completion of the sale, the chief executive officer owned 368,683 shares in the company, valued at approximately $70,337,342.74. This represents a 17.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,722 shares of company stock worth $17,161,015 in the last ninety days. 0.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on THC shares. Stephens raised shares of Tenet Healthcare to a “strong-buy” rating in a report on Monday, June 2nd. JPMorgan Chase & Co. raised their price target on shares of Tenet Healthcare from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $190.00 price target on shares of Tenet Healthcare in a report on Tuesday, August 26th. UBS Group raised their price objective on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial reissued an “outperform” rating and set a $200.00 price objective (up from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $196.81.

Tenet Healthcare Trading Up 2.7%

Tenet Healthcare stock opened at $202.06 on Monday. The firm’s 50-day moving average is $177.41 and its 200-day moving average is $160.06. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $202.15. The company has a market cap of $17.85 billion, a P/E ratio of 12.94, a PEG ratio of 0.86 and a beta of 1.55.

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

About Tenet Healthcare

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.