Yorktown Management & Research Co Inc Purchases Shares of 1,325 Tenet Healthcare Corporation $THC

Yorktown Management & Research Co Inc purchased a new stake in Tenet Healthcare Corporation (NYSE:THC) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 1,325 shares of the company’s stock, valued at approximately $233,000.

A number of other hedge funds have also recently bought and sold shares of THC. Nuveen LLC bought a new position in Tenet Healthcare in the first quarter valued at approximately $218,549,000. Ameriprise Financial Inc. grew its stake in Tenet Healthcare by 348.4% in the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company’s stock valued at $263,905,000 after purchasing an additional 1,524,642 shares in the last quarter. Boston Partners grew its stake in Tenet Healthcare by 692.9% in the first quarter. Boston Partners now owns 1,162,642 shares of the company’s stock valued at $156,318,000 after purchasing an additional 1,016,010 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Tenet Healthcare by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock valued at $1,021,736,000 after buying an additional 463,552 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Tenet Healthcare by 111.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 469,529 shares of the company’s stock valued at $63,152,000 after buying an additional 247,314 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

THC has been the subject of a number of recent analyst reports. Wolfe Research cut Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 28th. UBS Group lifted their price target on Tenet Healthcare from $230.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Raymond James Financial reissued an “outperform” rating and set a $200.00 price target (up from $185.00) on shares of Tenet Healthcare in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on Tenet Healthcare from $200.00 to $238.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Finally, The Goldman Sachs Group assumed coverage on Tenet Healthcare in a report on Tuesday, October 14th. They set a “buy” rating and a $224.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average price target of $209.25.

Insider Activity

In related news, Director Christopher S. Lynch sold 3,952 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total value of $697,093.28. Following the completion of the transaction, the director owned 12,358 shares of the company’s stock, valued at $2,179,827.62. This represents a 24.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 368,683 shares of the company’s stock, valued at approximately $70,337,342.74. The trade was a 17.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 90,722 shares of company stock worth $17,161,015. Insiders own 0.81% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $204.86 on Wednesday. The stock has a market capitalization of $18.10 billion, a PE ratio of 13.12, a P/E/G ratio of 0.93 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. The business has a fifty day moving average price of $194.16 and a two-hundred day moving average price of $171.31. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $217.43.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results 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 company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the company posted $2.93 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 15.930-16.26 EPS. As a group, equities analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share 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.