Swiss National Bank Trims Stake in Tenet Healthcare Corporation $THC

Swiss National Bank lessened its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,200 shares of the company’s stock after selling 4,000 shares during the quarter. Swiss National Bank owned about 0.20% of Tenet Healthcare worth $31,715,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Nuveen LLC bought a new stake in Tenet Healthcare during the first quarter worth about $218,549,000. Ameriprise Financial Inc. grew its stake in shares of Tenet Healthcare by 348.4% in the 1st 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 during the last quarter. Boston Partners increased its position in Tenet Healthcare by 94.2% during the 2nd quarter. Boston Partners now owns 2,258,272 shares of the company’s stock valued at $397,388,000 after buying an additional 1,095,630 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Tenet Healthcare by 111.3% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 469,529 shares of the company’s stock worth $63,152,000 after acquiring an additional 247,314 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Up 1.7%

THC opened at $218.37 on Wednesday. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $220.31. 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 firm has a 50-day simple moving average of $200.01 and a two-hundred day simple moving average of $181.30. The company has a market capitalization of $19.19 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.89 and a beta of 1.53.

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

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,500 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total transaction of $521,075.00. Following the transaction, the director owned 8,792 shares in the company, valued at $1,832,516.56. The trade was a 22.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Saumya Sutaria sold 78,762 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the completion of the sale, the chief executive officer owned 368,683 shares of the company’s stock, valued at $70,337,342.74. This trade represents a 17.60% 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. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Tenet Healthcare in a research report on Tuesday, October 14th. They issued a “buy” rating and a $224.00 target price for the company. Cantor Fitzgerald raised their target price on Tenet Healthcare from $190.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Tenet Healthcare in a research report on Monday. Wells Fargo & Company raised their target price on shares of Tenet Healthcare from $238.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Finally, UBS Group upped their price target on shares of Tenet Healthcare from $238.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.69.

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.