Tenet Healthcare Corporation $THC Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P decreased its position in Tenet Healthcare Corporation (NYSE:THC) by 83.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,165 shares of the company’s stock after selling 45,905 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Tenet Healthcare were worth $1,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in THC. AlphaQuest LLC grew its stake in shares of Tenet Healthcare by 230.8% during the second quarter. AlphaQuest LLC now owns 1,763 shares of the company’s stock worth $310,000 after purchasing an additional 1,230 shares in the last quarter. 111 Capital purchased a new stake in Tenet Healthcare during the 2nd quarter worth about $244,000. Royal Bank of Canada boosted its position in shares of Tenet Healthcare by 34.0% during the 1st quarter. Royal Bank of Canada now owns 119,349 shares of the company’s stock worth $16,052,000 after acquiring an additional 30,281 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. raised its position in shares of Tenet Healthcare by 22.2% during the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,813 shares of the company’s stock worth $14,575,000 after acquiring an additional 15,019 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake 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 last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on THC. Wells Fargo & Company raised their price objective on shares of Tenet Healthcare from $238.00 to $252.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Guggenheim lifted their price target 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. Cantor Fitzgerald upped their price objective on shares of Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group assumed coverage on Tenet Healthcare in a research report on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price on the stock. Finally, Morgan Stanley set a $232.00 target price on Tenet Healthcare and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.69.

Insider Transactions at Tenet Healthcare

In related news, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Saumya Sutaria sold 78,762 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the completion of the transaction, the chief executive officer owned 368,683 shares of the company’s stock, valued at approximately $70,337,342.74. This represents a 17.60% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 122,084 shares of company stock valued at $23,843,196. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $215.43 on Tuesday. 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 stock has a 50 day simple moving average of $202.19 and a 200-day simple moving average of $182.93. The company has a market cap of $18.93 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.53. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $221.00.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the firm earned $2.93 EPS. 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, equities analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

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.