IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 1,114 Shares of Tenet Healthcare Corporation $THC

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 10.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,957 shares of the company’s stock after acquiring an additional 1,114 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Tenet Healthcare were worth $2,104,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in THC. Wayfinding Financial LLC bought a new position in shares of Tenet Healthcare in the first quarter valued at about $28,000. SVB Wealth LLC bought a new position in shares of Tenet Healthcare in the first quarter valued at about $30,000. N.E.W. Advisory Services LLC bought a new position in shares of Tenet Healthcare in the first quarter valued at about $31,000. Brooklyn Investment Group raised its holdings in shares of Tenet Healthcare by 908.7% in the first quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock valued at $31,000 after buying an additional 209 shares during the last quarter. Finally, Chung Wu Investment Group LLC bought a new position in shares of Tenet Healthcare in the second quarter valued at about $35,000. 95.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Robert W. Baird cut their price target on Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tenet Healthcare in a research report on Wednesday, October 8th. Wolfe Research lowered Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 28th. Bank of America lifted their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Zacks Research lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.25.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $204.86 on Wednesday. The firm has a market capitalization of $18.10 billion, a P/E ratio of 13.12, a PEG ratio of 0.93 and a beta of 1.52. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $217.43. The business has a 50-day moving average of $194.16 and a 200-day moving average of $171.31. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.37. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the firm earned $2.93 EPS. Tenet Healthcare’s quarterly revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. On average, equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Activity at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 3,952 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 12,358 shares in the company, 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 this hyperlink. Also, EVP Lisa Y. Foo sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the completion of the transaction, the executive vice president owned 20,878 shares of the company’s stock, valued at $3,748,227.34. This represents a 27.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 90,722 shares of company stock worth $17,161,015. 0.81% of the stock is owned by company insiders.

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.