Oak Harvest Investment Services Buys New Position in Tenet Healthcare Corporation $THC

Oak Harvest Investment Services purchased a new position in Tenet Healthcare Corporation (NYSE:THC) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,391 shares of the company’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in THC. ProShare Advisors LLC increased its position in shares of Tenet Healthcare by 1.7% during the 2nd quarter. ProShare Advisors LLC now owns 4,118 shares of the company’s stock valued at $725,000 after purchasing an additional 67 shares during the period. US Bancorp DE grew its holdings in Tenet Healthcare by 0.8% during the first quarter. US Bancorp DE now owns 8,620 shares of the company’s stock worth $1,159,000 after acquiring an additional 68 shares during the period. Farther Finance Advisors LLC raised 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 worth $460,000 after acquiring an additional 70 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Tenet Healthcare by 5.3% in the 1st quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock worth $192,000 after purchasing an additional 72 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Tenet Healthcare by 11.2% during the second quarter. Signaturefd LLC now owns 732 shares of the company’s stock valued at $129,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was 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 of the company’s stock, valued at $1,832,516.56. The trade was a 22.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Saumya Sutaria sold 78,762 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 134,044 shares of company stock valued at $25,977,997. Corporate insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Tenet Healthcare from $238.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday. Mizuho increased their price target on Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Royal Bank Of Canada boosted their price objective on Tenet Healthcare from $230.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. The Goldman Sachs Group initiated coverage on shares of Tenet Healthcare in a research report on Tuesday, October 14th. They issued a “buy” rating and a $224.00 target price on the stock. Finally, Guggenheim raised their price objective on shares of Tenet Healthcare from $221.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $229.00.

Tenet Healthcare Trading Down 2.2%

Shares of NYSE THC opened at $192.30 on Friday. The stock has a market cap of $16.90 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 0.89 and a beta of 1.53. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $217.43. 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 company’s fifty day moving average is $198.89 and its 200-day moving average is $178.33.

Tenet Healthcare (NYSE:THC) last posted its earnings results 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. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the prior year, the business earned $2.93 EPS. Tenet Healthcare’s revenue for the quarter 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. Equities research analysts predict 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.