Tenet Healthcare Corporation $THC Shares Acquired by Violich Capital Management Inc.

Violich Capital Management Inc. boosted its stake in Tenet Healthcare Corporation (NYSE:THC) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,905 shares of the company’s stock after purchasing an additional 125 shares during the period. Violich Capital Management Inc.’s holdings in Tenet Healthcare were worth $335,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in Tenet Healthcare by 0.8% in the first quarter. US Bancorp DE now owns 8,620 shares of the company’s stock valued at $1,159,000 after purchasing an additional 68 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Tenet Healthcare by 2.8% in the second quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $460,000 after acquiring an additional 70 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Tenet Healthcare by 5.3% during the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock valued at $192,000 after buying an additional 72 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Tenet Healthcare by 11.2% during the second quarter. Signaturefd LLC now owns 732 shares of the company’s stock valued at $129,000 after buying an additional 74 shares during the last quarter. Finally, Vista Investment Partners LLC boosted its stake in Tenet Healthcare by 0.3% during the 2nd quarter. Vista Investment Partners LLC now owns 25,257 shares of the company’s stock valued at $4,445,000 after purchasing an additional 76 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare stock in a transaction that occurred 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. This trade represents a 24.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the transaction, the executive vice president directly owned 20,878 shares in the company, valued at $3,748,227.34. This trade represents a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,722 shares of company stock valued at $17,161,015 over the last three months. 0.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on THC. Bank of America lifted their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Barclays upped their price objective on shares of Tenet Healthcare from $208.00 to $229.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Mizuho increased their price objective on shares of Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a report on Friday. Raymond James Financial reissued an “outperform” rating and set a $200.00 price objective (up previously from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. Finally, Zacks Research downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One investment 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.25.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $199.89 on Friday. The firm has a 50-day moving average of $189.23 and a 200-day moving average of $167.02. The company has a market cap of $17.66 billion, a P/E ratio of 12.80, a P/E/G ratio of 0.86 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $207.14.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $1.18. The business had revenue of $5.27 billion during 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%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Equities research analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal 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.