Empowered Funds LLC Grows Stock Position in Tenet Healthcare Corporation $THC

Empowered Funds LLC boosted its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 19.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,268 shares of the company’s stock after acquiring an additional 29,514 shares during the period. Empowered Funds LLC’s holdings in Tenet Healthcare were worth $32,431,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in THC. Price T Rowe Associates Inc. MD lifted its stake in shares of Tenet Healthcare by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock valued at $1,021,736,000 after buying an additional 463,552 shares during the period. Boston Partners increased its position in Tenet Healthcare by 94.2% during the second quarter. Boston Partners now owns 2,258,272 shares of the company’s stock worth $397,388,000 after purchasing an additional 1,095,630 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Tenet Healthcare by 348.4% during the first 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 during the period. Dimensional Fund Advisors LP raised its position in shares of Tenet Healthcare by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company’s stock worth $225,297,000 after buying an additional 181,667 shares during the period. Finally, Nuveen LLC acquired a new stake in Tenet Healthcare during the first quarter worth about $218,549,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 0.3%

Shares of Tenet Healthcare stock opened at $192.34 on Tuesday. 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 1-year low of $109.82 and a 1-year high of $217.43. The business has a 50-day moving average of $198.90 and a 200-day moving average of $179.19. The company has a market capitalization of $16.90 billion, a PE ratio of 13.18, a P/E/G ratio of 0.89 and a beta of 1.53.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data 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 return on equity of 25.11% and a net margin of 6.49%.The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the firm earned $2.93 EPS. Tenet Healthcare’s quarterly 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. As a group, equities analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

THC has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Cantor Fitzgerald boosted their price objective on shares of Tenet Healthcare from $190.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada lifted their target price on shares of Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Morgan Stanley set a $232.00 price target on Tenet Healthcare and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, UBS Group upped their target price on Tenet Healthcare from $238.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One investment 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 stock. According to data from MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Insider Activity

In other Tenet Healthcare news, 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 transaction of $15,026,214.36. Following the completion of the transaction, the chief executive officer directly owned 368,683 shares of the company’s stock, valued at $70,337,342.74. This trade represents a 17.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the completion of the sale, the executive vice president owned 20,878 shares in the company, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 130,092 shares of company stock worth $25,280,903 over the last ninety days. Insiders own 0.81% of the company’s stock.

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.