Tenet Healthcare Corporation $THC Shares Sold by Private Management Group Inc.

Private Management Group Inc. decreased its holdings in Tenet Healthcare Corporation (NYSE:THC) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,587 shares of the company’s stock after selling 4,027 shares during the quarter. Private Management Group Inc.’s holdings in Tenet Healthcare were worth $14,887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter worth $218,549,000. Ameriprise Financial Inc. increased its stake in 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 purchasing an additional 1,524,642 shares in the last quarter. Boston Partners raised its holdings in Tenet Healthcare by 94.2% during the 2nd quarter. Boston Partners now owns 2,258,272 shares of the company’s stock worth $397,388,000 after buying an additional 1,095,630 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tenet Healthcare by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock worth $1,021,736,000 after buying an additional 463,552 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Tenet Healthcare by 111.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 469,529 shares of the company’s stock worth $63,152,000 after acquiring an additional 247,314 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction dated 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 document filed with the SEC, which is available at this link. Also, Director Tammy Romo sold 645 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $205.20, for a total value of $132,354.00. Following the completion of the sale, the director owned 34,866 shares of the company’s stock, valued at approximately $7,154,503.20. This trade represents a 1.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 122,092 shares of company stock worth $23,844,663 in the last 90 days. 0.81% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on THC shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Tenet Healthcare in a research note on Monday. JPMorgan Chase & Co. raised their target price on Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. UBS Group upped their price target on Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Guggenheim lifted their target price on Tenet Healthcare from $221.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Royal Bank Of Canada increased their price target on shares of Tenet Healthcare from $230.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. 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 stock. According to MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $229.69.

Tenet Healthcare Stock Up 2.7%

THC opened at $191.64 on Friday. The company has a market capitalization of $16.84 billion, a PE ratio of 13.14, 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 Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $217.43. The business has a 50-day moving average of $198.72 and a 200-day moving average of $179.95.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.37. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.93 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Equities research analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal 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.