Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Stock Position in Tenet Healthcare Corporation $THC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,865 shares of the company’s stock after acquiring an additional 1,133 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tenet Healthcare were worth $4,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Donoghue Forlines LLC bought a new position in shares of Tenet Healthcare in the second quarter worth approximately $2,947,000. Oak Harvest Investment Services purchased a new stake in Tenet Healthcare during the 2nd quarter valued at $245,000. Candriam S.C.A. purchased a new position in shares of Tenet Healthcare in the second quarter valued at about $4,313,000. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Tenet Healthcare by 0.9% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 34,836 shares of the company’s stock valued at $6,131,000 after acquiring an additional 316 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Tenet Healthcare by 18.0% in the second quarter. PNC Financial Services Group Inc. now owns 5,419 shares of the company’s stock worth $954,000 after purchasing an additional 826 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on THC shares. KeyCorp increased their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Wall Street Zen raised Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Raymond James Financial set a $245.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, October 29th. 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, Cantor Fitzgerald boosted their price target on shares of Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

Tenet Healthcare Stock Up 0.3%

Shares of Tenet Healthcare stock opened at $193.07 on Wednesday. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $217.43. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.63. The company has a 50-day moving average of $198.83 and a 200 day moving average of $179.51. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 0.89 and a beta of 1.53.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter last year, the firm earned $2.93 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, sell-side analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 2,500 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total value of $521,075.00. Following the transaction, the director owned 8,792 shares in the company, valued at $1,832,516.56. The trade was a 22.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tammy Romo sold 645 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $205.20, for a total transaction of $132,354.00. Following the sale, the director owned 34,866 shares of the company’s stock, valued at approximately $7,154,503.20. This represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 122,092 shares of company stock valued at $23,844,663. 0.81% of the stock is owned by insiders.

Tenet Healthcare 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.