Leith Wheeler Investment Counsel Ltd. Acquires 27,079 Shares of Tenet Healthcare Corporation $THC

Leith Wheeler Investment Counsel Ltd. increased its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 39.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,873 shares of the company’s stock after buying an additional 27,079 shares during the period. Tenet Healthcare accounts for about 1.2% of Leith Wheeler Investment Counsel Ltd.’s investment portfolio, making the stock its 24th biggest holding. Leith Wheeler Investment Counsel Ltd.’s holdings in Tenet Healthcare were worth $16,698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in THC. AlphaQuest LLC lifted its holdings in shares of Tenet Healthcare by 230.8% during the 2nd quarter. AlphaQuest LLC now owns 1,763 shares of the company’s stock valued at $310,000 after purchasing an additional 1,230 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Tenet Healthcare in the 1st quarter valued at about $212,000. Envestnet Asset Management Inc. raised its position in Tenet Healthcare by 3.3% during the first quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company’s stock worth $27,382,000 after acquiring an additional 6,424 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Tenet Healthcare by 34.0% in the first quarter. Royal Bank of Canada now owns 119,349 shares of the company’s stock valued at $16,052,000 after buying an additional 30,281 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in Tenet Healthcare by 46.6% during the second quarter. Cullen Frost Bankers Inc. now owns 601 shares of the company’s stock worth $106,000 after purchasing an additional 191 shares during the period. Institutional investors own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on THC shares. JPMorgan Chase & Co. raised their price objective on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tenet Healthcare in a report on Wednesday, October 8th. Bank of America boosted their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Wells Fargo & Company raised their price target on shares of Tenet Healthcare from $200.00 to $238.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Barclays increased their target price on shares of Tenet Healthcare from $208.00 to $229.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.25.

Tenet Healthcare Stock Down 5.2%

Shares of NYSE THC opened at $194.57 on Tuesday. The stock has a 50-day moving average price of $198.36 and a two-hundred day moving average price of $177.03. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $217.43. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.27. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.89 and a beta of 1.53.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data 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. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.93 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insider Activity

In other Tenet Healthcare news, CEO Saumya Sutaria sold 78,762 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total value of $15,026,214.36. Following the sale, the chief executive officer owned 368,683 shares in the company, valued at approximately $70,337,342.74. The trade was a 17.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $205.11, for a total transaction of $2,732,475.42. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 134,044 shares of company stock worth $25,977,997. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare Company 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.