Silvant Capital Management LLC Buys 4,652 Shares of Tenet Healthcare Corporation $THC

Silvant Capital Management LLC grew its stake in Tenet Healthcare Corporation (NYSE:THC) by 54.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,165 shares of the company’s stock after buying an additional 4,652 shares during the quarter. Silvant Capital Management LLC’s holdings in Tenet Healthcare were worth $2,317,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. SVB Wealth LLC purchased a new position in Tenet Healthcare in the first quarter worth $30,000. N.E.W. Advisory Services LLC bought a new stake in shares of Tenet Healthcare during the 1st quarter valued at about $31,000. Brooklyn Investment Group increased its position in shares of Tenet Healthcare by 908.7% during the first quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock valued at $31,000 after buying an additional 209 shares during the period. Chung Wu Investment Group LLC purchased a new stake in Tenet Healthcare in the second quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of 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 worth $45,000 after acquiring an additional 245 shares during the period. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Trading Down 0.4%

Shares of NYSE:THC opened at $217.52 on Friday. The stock’s 50-day simple moving average is $201.23 and its two-hundred day simple moving average is $181.81. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.63 and a current ratio of 1.71. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 0.89 and a beta of 1.53. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $221.00.

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

Insiders Place Their Bets

In other news, insider R. Scott Ramsey sold 13,322 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total value of $2,732,475.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tammy Romo sold 15,099 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $200.81, for a total transaction of $3,032,030.19. Following the transaction, the director directly owned 47,267 shares of the company’s stock, valued at $9,491,686.27. This trade represents a 24.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 122,084 shares of company stock valued at $23,843,196 in the last 90 days. 0.81% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Bank of America raised their target price on Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. The Goldman Sachs Group initiated coverage on shares of Tenet Healthcare in a report on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price on the stock. UBS Group lifted their price target on shares of Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Guggenheim upped their price objective on shares of Tenet Healthcare from $221.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Tenet Healthcare from $200.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.69.

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.