Rhumbline Advisers Reduces Stock Position in Tenet Healthcare Corporation $THC

Rhumbline Advisers trimmed its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 1.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 251,208 shares of the company’s stock after selling 4,549 shares during the period. Rhumbline Advisers owned 0.28% of Tenet Healthcare worth $44,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in THC. AE Wealth Management LLC boosted its holdings in Tenet Healthcare by 92.2% in the first quarter. AE Wealth Management LLC now owns 5,564 shares of the company’s stock valued at $748,000 after purchasing an additional 2,669 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Tenet Healthcare by 9.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,934 shares of the company’s stock valued at $798,000 after buying an additional 501 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Tenet Healthcare by 37.1% in the 1st quarter. Cetera Investment Advisers now owns 28,820 shares of the company’s stock valued at $3,876,000 after buying an additional 7,801 shares during the last quarter. TD Asset Management Inc lifted its position in Tenet Healthcare by 6.2% in the first quarter. TD Asset Management Inc now owns 130,253 shares of the company’s stock valued at $17,519,000 after acquiring an additional 7,608 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in Tenet Healthcare by 2.8% in the first quarter. LPL Financial LLC now owns 69,028 shares of the company’s stock valued at $9,284,000 after acquiring an additional 1,892 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Saumya Sutaria sold 78,762 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 368,683 shares of the company’s stock, valued at $70,337,342.74. This represents a 17.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R. Scott Ramsey sold 13,322 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $205.11, for a total transaction of $2,732,475.42. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 122,092 shares of company stock worth $23,844,663. Insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Up 12.1%

Shares of NYSE:THC opened at $215.18 on Tuesday. The company has a market cap of $18.91 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.89 and a beta of 1.53. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $217.43. The firm’s 50-day simple moving average is $199.29 and its 200-day simple moving average is $180.81. 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 (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter last year, the firm earned $2.93 earnings per share. The firm’s 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. As a group, equities research analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Raymond James Financial set a $245.00 price objective on Tenet Healthcare in a report on Wednesday, October 29th. Morgan Stanley set a $232.00 target price on shares of Tenet Healthcare and gave the company an “overweight” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Finally, Cantor Fitzgerald upped their target price on shares of Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Tenet Healthcare presently has a consensus 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.