QRG Capital Management Inc. Sells 13,722 Shares of Tenet Healthcare Corporation $THC

QRG Capital Management Inc. cut its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 65.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,156 shares of the company’s stock after selling 13,722 shares during the quarter. QRG Capital Management Inc.’s holdings in Tenet Healthcare were worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Chung Wu Investment Group LLC bought a new position in shares of Tenet Healthcare in the second quarter worth approximately $35,000. Canada Pension Plan Investment Board purchased a new stake in Tenet Healthcare during the 2nd quarter valued at $35,000. Trust Co. of Vermont bought a new position in shares of Tenet Healthcare during the third quarter valued at $41,000. Caitong International Asset Management Co. Ltd lifted its stake in Tenet Healthcare by 2,227.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 256 shares of the company’s stock valued at $45,000 after acquiring an additional 245 shares during the period. Finally, True Wealth Design LLC boosted its holdings in shares of Tenet Healthcare by 238.2% during the 2nd quarter. True Wealth Design LLC now owns 257 shares of the company’s stock valued at $45,000 after acquiring an additional 181 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

THC opened at $193.27 on Wednesday. The firm has a market cap of $16.99 billion, a P/E ratio of 13.25, a PEG ratio of 0.84 and a beta of 1.41. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $222.82. The company has a 50 day simple moving average of $201.49 and a two-hundred day simple moving average of $191.26. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.37. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. 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. Equities analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total transaction of $521,075.00. Following the completion of the sale, the director directly owned 8,792 shares of the company’s stock, valued at $1,832,516.56. This trade represents a 22.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider R. Scott Ramsey sold 13,322 shares of the business’s 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 45,500 shares of company stock valued at $9,247,071 in the last 90 days. 0.81% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

THC has been the topic of several research reports. UBS Group raised their target price on shares of Tenet Healthcare from $238.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $247.00 price target on shares of Tenet Healthcare in a research report on Thursday, December 18th. Weiss Ratings raised shares of Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Cowen reiterated a “buy” rating on shares of Tenet Healthcare in a research report on Wednesday, January 7th. Finally, Guggenheim boosted their price objective on shares of Tenet Healthcare from $238.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.81.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.