State Board of Administration of Florida Retirement System Purchases 750 Shares of Tenet Healthcare Corporation $THC

State Board of Administration of Florida Retirement System increased its position in Tenet Healthcare Corporation (NYSE:THC) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,346 shares of the company’s stock after acquiring an additional 750 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.08% of Tenet Healthcare worth $12,733,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in THC. Avantax Advisory Services Inc. lifted its position in shares of Tenet Healthcare by 9.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,934 shares of the company’s stock worth $798,000 after purchasing an additional 501 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Tenet Healthcare by 37.1% during the first quarter. Cetera Investment Advisers now owns 28,820 shares of the company’s stock worth $3,876,000 after buying an additional 7,801 shares during the last quarter. LPL Financial LLC boosted its position in shares of Tenet Healthcare by 2.8% in the first quarter. LPL Financial LLC now owns 69,028 shares of the company’s stock valued at $9,284,000 after acquiring an additional 1,892 shares during the period. Natixis Advisors LLC increased its position in Tenet Healthcare by 102.7% during the first quarter. Natixis Advisors LLC now owns 35,763 shares of the company’s stock worth $4,810,000 after acquiring an additional 18,123 shares during the period. Finally, US Bancorp DE raised its stake in Tenet Healthcare by 0.8% during the 1st quarter. US Bancorp DE now owns 8,620 shares of the company’s stock valued at $1,159,000 after purchasing an additional 68 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $215.43 on Tuesday. The business has a 50 day simple moving average of $202.19 and a 200 day simple moving average of $182.93. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $221.00. The company has a market capitalization of $18.93 billion, a PE ratio of 14.77, a price-to-earnings-growth 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 (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 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 company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same period last year, the business earned $2.93 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. On average, sell-side analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Activity

In related news, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 368,683 shares in the company, valued at $70,337,342.74. This represents a 17.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard W. Fisher sold 2,500 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $208.43, for a total value of $521,075.00. Following the completion of the transaction, the director directly owned 8,792 shares in the company, valued at approximately $1,832,516.56. This represents a 22.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 122,084 shares of company stock valued at $23,843,196 in the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Zacks Research lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Truist Financial reiterated a “buy” rating and issued a $240.00 price objective (up previously from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. Morgan Stanley set a $232.00 target price on Tenet Healthcare and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Tenet Healthcare in a research note on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently 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.