TD Asset Management Inc Trims Stake in Tenet Healthcare Corporation $THC

TD Asset Management Inc lowered its holdings in Tenet Healthcare Corporation (NYSE:THC) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,418 shares of the company’s stock after selling 2,835 shares during the period. TD Asset Management Inc owned approximately 0.14% of Tenet Healthcare worth $22,426,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. bought a new stake in Tenet Healthcare during the first quarter valued at approximately $212,000. Envestnet Asset Management Inc. grew its position in Tenet Healthcare by 3.3% in the first quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company’s stock worth $27,382,000 after acquiring an additional 6,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Tenet Healthcare by 65.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company’s stock valued at $189,000 after acquiring an additional 562 shares during the last quarter. Royal Bank of Canada lifted its stake in Tenet Healthcare by 34.0% during the first quarter. Royal Bank of Canada now owns 119,349 shares of the company’s stock worth $16,052,000 after purchasing an additional 30,281 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of 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 during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Trading Up 0.4%

NYSE:THC opened at $199.89 on Friday. The firm has a market capitalization of $17.66 billion, a P/E ratio of 12.80, a P/E/G ratio of 0.85 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. 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 fifty day moving average of $189.23 and a 200 day moving average of $166.82.

Tenet Healthcare (NYSE:THC) last released 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. The firm had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, research analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total transaction of $697,093.28. Following the transaction, the director directly owned 12,358 shares of the company’s stock, valued at approximately $2,179,827.62. The trade was a 24.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saumya Sutaria sold 78,762 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 368,683 shares of the company’s stock, 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. In the last three months, insiders have sold 90,722 shares of company stock worth $17,161,015. 0.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

THC has been the subject of a number of recent research reports. Raymond James Financial restated an “outperform” rating and issued a $200.00 target price (up previously from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. UBS Group upped their price objective on shares of Tenet Healthcare from $230.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Zacks Research downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Bank of America raised their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, Wall Street Zen raised Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.25.

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.