King Wealth Management Group Sells 1,000 Shares of Tenet Healthcare Corporation $THC

King Wealth Management Group cut its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 18.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,500 shares of the company’s stock after selling 1,000 shares during the period. King Wealth Management Group’s holdings in Tenet Healthcare were worth $792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position 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 purchasing an additional 463,552 shares in the last quarter. Boston Partners grew its holdings in shares of Tenet Healthcare by 94.2% during the second quarter. Boston Partners now owns 2,258,272 shares of the company’s stock valued at $397,388,000 after buying an additional 1,095,630 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Tenet Healthcare by 348.4% in 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 last quarter. Dimensional Fund Advisors LP raised its position in 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 last quarter. Finally, Nuveen LLC bought a new stake in Tenet Healthcare in the 1st quarter worth approximately $218,549,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 368,683 shares of the company’s stock, valued at $70,337,342.74. This represents a 17.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa Y. Foo sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the transaction, the executive vice president owned 20,878 shares of the company’s stock, valued at $3,748,227.34. This trade represents a 27.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 134,044 shares of company stock worth $25,977,997 in the last 90 days. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on THC. Wall Street Zen raised Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a report on Saturday, July 26th. 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 report on Thursday. Bank of America raised their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. The Goldman Sachs Group started coverage on shares of Tenet Healthcare in a report on Tuesday, October 14th. They issued a “buy” rating and a $224.00 target price for the company. Finally, UBS Group upped their price target on shares of Tenet Healthcare from $238.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One 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.com, Tenet Healthcare has an average rating of “Moderate Buy” and an average target price of $229.00.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $196.61 on Friday. The company has a market cap of $17.28 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.89 and a beta of 1.53. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. The firm’s fifty day moving average is $198.98 and its 200 day moving average is $177.85. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $217.43.

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

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.