Tenet Healthcare Corporation $THC Position Increased by LSV Asset Management

LSV Asset Management increased its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,900 shares of the company’s stock after buying an additional 13,785 shares during the quarter. LSV Asset Management’s holdings in Tenet Healthcare were worth $41,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Tenet Healthcare by 12.9% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 62,153 shares of the company’s stock worth $10,939,000 after acquiring an additional 7,084 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in Tenet Healthcare in the 2nd quarter worth about $2,204,000. Cetera Investment Advisers increased its stake in shares of Tenet Healthcare by 0.4% in the second quarter. Cetera Investment Advisers now owns 28,924 shares of the company’s stock valued at $5,091,000 after purchasing an additional 104 shares during the period. Creative Planning boosted its position in shares of Tenet Healthcare by 7.4% during the second quarter. Creative Planning now owns 14,980 shares of the company’s stock worth $2,636,000 after buying an additional 1,035 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Tenet Healthcare by 5.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,865 shares of the company’s stock valued at $4,200,000 after acquiring an additional 1,133 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on THC. Wolfe Research lowered Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 28th. Barclays increased their target price on shares of Tenet Healthcare from $208.00 to $229.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Cantor Fitzgerald boosted their price target on shares of Tenet Healthcare from $190.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Guggenheim increased their price objective on shares of Tenet Healthcare from $221.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 2,500 shares of Tenet Healthcare stock in a transaction dated Wednesday, October 29th. The stock was 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 of the company’s stock, valued at approximately $1,832,516.56. This trade represents a 22.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tammy Romo sold 15,099 shares of the company’s 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 sale, the director directly owned 47,267 shares of the company’s stock, valued at $9,491,686.27. This represents a 24.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 122,092 shares of company stock worth $23,844,663. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Up 0.3%

THC stock opened at $193.07 on Wednesday. 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 firm has a market cap of $16.97 billion, a PE ratio of 13.23, a P/E/G ratio of 0.89 and a beta of 1.53. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $217.43. The firm has a 50 day simple moving average of $198.83 and a 200 day simple moving average of $179.51.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 25.11% and a net margin of 6.49%.The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.93 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Equities research analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

About Tenet Healthcare

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.