Vanguard Group Inc. Trims Stake in Tenet Healthcare Corporation $THC

Vanguard Group Inc. lowered its position in Tenet Healthcare Corporation (NYSE:THC) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,462,404 shares of the company’s stock after selling 455,238 shares during the period. Vanguard Group Inc. owned approximately 10.71% of Tenet Healthcare worth $1,665,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of THC. SVB Wealth LLC bought a new position in Tenet Healthcare in the 1st quarter valued at $30,000. N.E.W. Advisory Services LLC purchased a new position in Tenet Healthcare in the 1st quarter worth about $31,000. Brooklyn Investment Group lifted its holdings in Tenet Healthcare by 908.7% during the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock valued at $31,000 after buying an additional 209 shares in the last quarter. Chung Wu Investment Group LLC purchased a new stake in Tenet Healthcare in the 2nd quarter valued at about $35,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Tenet Healthcare by 2,227.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 256 shares of the company’s stock worth $45,000 after acquiring an additional 245 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In related news, Director Tammy Romo sold 15,099 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $200.81, for a total value of $3,032,030.19. Following the completion of the transaction, the director directly owned 47,267 shares of the company’s stock, valued at $9,491,686.27. This trade represents a 24.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard W. Fisher sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $208.43, for a total transaction of $521,075.00. Following the sale, the director directly owned 8,792 shares in the company, valued at approximately $1,832,516.56. This represents a 22.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 122,092 shares of company stock valued at $23,844,663. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Trading Up 2.7%

NYSE THC opened at $191.64 on Friday. The firm has a market cap of $16.84 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.53. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $217.43. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. The company has a 50 day moving average price of $198.72 and a 200 day moving average price of $179.95.

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, topping 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 business 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 firm posted $2.93 earnings per share. The business’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, sell-side analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on THC. Bank of America raised their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Mizuho lifted their price objective on Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, October 17th. JPMorgan Chase & Co. increased their target price on shares of Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Tenet Healthcare in a report on Monday. Finally, Morgan Stanley set a $232.00 price objective on shares of Tenet Healthcare and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.69.

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.