KLP Kapitalforvaltning AS Sells 500 Shares of Tenet Healthcare Corporation $THC

KLP Kapitalforvaltning AS cut its holdings in Tenet Healthcare Corporation (NYSE:THC) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,500 shares of the company’s stock after selling 500 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Tenet Healthcare were worth $3,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Tenet Healthcare during the 1st quarter valued at approximately $26,000. Wayfinding Financial LLC bought a new stake in Tenet Healthcare during the 1st quarter valued at approximately $28,000. SVB Wealth LLC bought a new stake in Tenet Healthcare during the 1st quarter valued at approximately $30,000. N.E.W. Advisory Services LLC bought a new stake in Tenet Healthcare during the 1st quarter valued at approximately $31,000. Finally, Brooklyn Investment Group boosted its position in Tenet Healthcare by 908.7% during the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock valued at $31,000 after acquiring an additional 209 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Insider Activity

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction 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 owned 12,358 shares in the company, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction on Wednesday, September 10th. The stock was 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 owned 368,683 shares of the company’s stock, valued at $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 valued at $17,161,015 in the last 90 days. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Trading Down 2.8%

NYSE:THC opened at $189.45 on Friday. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $207.14. The company has a 50 day simple moving average of $185.76 and a two-hundred day simple moving average of $164.65. 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 $16.74 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.83 and a beta of 1.52.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data 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. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The company’s revenue for the quarter 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. Research analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on THC. Wall Street Zen raised Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Saturday, July 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tenet Healthcare in a report on Wednesday. Robert W. Baird lowered their target price on shares of Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, July 25th. KeyCorp lifted their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Guggenheim boosted their price objective on shares of Tenet Healthcare from $180.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.69.

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.