South Dakota Investment Council Increases Holdings in Tenet Healthcare Corporation $THC

South Dakota Investment Council grew its holdings in Tenet Healthcare Corporation (NYSE:THC) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 52,514 shares of the company’s stock after buying an additional 2,600 shares during the quarter. South Dakota Investment Council owned approximately 0.06% of Tenet Healthcare worth $9,242,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Tenet Healthcare by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock worth $1,021,736,000 after purchasing an additional 463,552 shares during the period. Ameriprise Financial Inc. raised 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 worth $263,905,000 after buying an additional 1,524,642 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tenet Healthcare by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company’s stock worth $225,297,000 after buying an additional 181,667 shares during the period. Nuveen LLC purchased a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $218,549,000. Finally, Boston Partners raised its position in shares of Tenet Healthcare by 692.9% in the 1st quarter. Boston Partners now owns 1,162,642 shares of the company’s stock worth $156,318,000 after acquiring an additional 1,016,010 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $206.53 on Monday. The company has a 50 day moving average of $195.84 and a 200 day moving average of $173.45. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $217.43. The firm has a market cap of $18.25 billion, a P/E ratio of 14.16, a PEG ratio of 0.89 and a beta of 1.52.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the prior year, the company posted $2.93 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, research analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

THC has been the subject of several recent research reports. Cantor Fitzgerald raised their price objective on Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Wolfe Research cut shares of Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 28th. The Goldman Sachs Group began coverage on shares of Tenet Healthcare in a report on Tuesday, October 14th. They issued a “buy” rating and a $224.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Tenet Healthcare from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Finally, Truist Financial set a $225.00 price objective on Tenet Healthcare in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average target price of $225.31.

Insider Activity at Tenet Healthcare

In other news, Director Christopher S. Lynch sold 3,952 shares of the firm’s 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 transaction, the director directly owned 12,358 shares in the company, valued at $2,179,827.62. This trade represents a 24.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lisa Y. Foo sold 8,000 shares of the stock in a transaction dated 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 directly owned 20,878 shares in the company, valued at approximately $3,748,227.34. This represents a 27.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 93,222 shares of company stock valued at $17,682,090 over the last ninety days. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare 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.