Leuthold Group LLC Sells 3,910 Shares of Tenet Healthcare Corporation $THC

Leuthold Group LLC decreased its holdings in Tenet Healthcare Corporation (NYSE:THC) by 11.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,857 shares of the company’s stock after selling 3,910 shares during the period. Leuthold Group LLC’s holdings in Tenet Healthcare were worth $5,079,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in THC. Price T Rowe Associates Inc. MD lifted its stake in shares of Tenet Healthcare by 6.5% during 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 during the last quarter. Boston Partners boosted its holdings in shares of Tenet Healthcare by 95.0% in the 2nd quarter. Boston Partners now owns 2,267,142 shares of the company’s stock valued at $398,949,000 after buying an additional 1,104,500 shares in the last quarter. Ameriprise Financial Inc. grew its position 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. Dimensional Fund Advisors LP raised its stake in shares of Tenet Healthcare by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company’s stock worth $225,297,000 after acquiring an additional 181,667 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Tenet Healthcare during the first quarter valued at approximately $218,549,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial reiterated a “buy” rating and set a $240.00 price objective (up previously from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Tenet Healthcare in a research report on Monday, November 24th. KeyCorp increased their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Morgan Stanley set a $232.00 target price on shares of Tenet Healthcare and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Zacks Research cut shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $229.69.

Insider Activity

In other news, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 368,683 shares of the company’s stock, valued at $70,337,342.74. The trade was a 17.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. The SEC filing for this sale provides additional information. Insiders sold 122,084 shares of company stock worth $23,843,196 over the last 90 days. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Trading Down 0.3%

NYSE THC opened at $216.84 on Friday. The company has a fifty day moving average of $201.77 and a 200 day moving average of $182.41. The company has a market capitalization of $19.06 billion, a PE ratio of 14.86, a P/E/G ratio of 0.89 and a beta of 1.53. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.63. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $221.00.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) 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 company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Research analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share 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.