Counterpoint Mutual Funds LLC Invests $312,000 in Tenet Healthcare Corporation $THC

Counterpoint Mutual Funds LLC bought a new stake in Tenet Healthcare Corporation (NYSE:THC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,773 shares of the company’s stock, valued at approximately $312,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in Tenet Healthcare by 30.1% in the second quarter. GAMMA Investing LLC now owns 1,860 shares of the company’s stock valued at $327,000 after buying an additional 430 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in Tenet Healthcare by 5.1% in the second quarter. Clear Harbor Asset Management LLC now owns 10,869 shares of the company’s stock valued at $1,913,000 after buying an additional 526 shares in the last quarter. Tran Capital Management L.P. acquired a new stake in Tenet Healthcare in the second quarter valued at approximately $6,237,000. Farther Finance Advisors LLC boosted its position in Tenet Healthcare by 2.8% in the second quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock valued at $460,000 after buying an additional 70 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Tenet Healthcare by 36.4% in the second quarter. UMB Bank n.a. now owns 1,117 shares of the company’s stock valued at $197,000 after buying an additional 298 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 8,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president directly owned 20,878 shares in the company, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $697,093.28. Following the completion of the sale, the director owned 12,358 shares of the company’s stock, valued at $2,179,827.62. The trade was a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,722 shares of company stock worth $17,161,015. 0.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

THC has been the subject of several analyst reports. Mizuho raised their price target on shares of Tenet Healthcare from $184.00 to $194.00 and gave the company an “outperform” rating in a research note on Friday, July 11th. Bank of America raised their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. UBS Group raised their price target on shares of Tenet Healthcare from $230.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Guggenheim raised their price target on shares of Tenet Healthcare from $180.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Finally, Robert W. Baird lowered their target price on shares of Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.81.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $196.61 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $17.37 billion, a PE ratio of 12.59, a P/E/G ratio of 0.83 and a beta of 1.55. The firm has a fifty day simple moving average of $176.44 and a 200 day simple moving average of $158.50. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $199.99.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $1.18. The business had revenue of $5.27 billion during the quarter, compared to analysts’ expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the company posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, sell-side analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current 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.