Cresset Asset Management LLC Sells 3,623 Shares of Tenet Healthcare Corporation $THC

Cresset Asset Management LLC lessened its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 55.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,886 shares of the company’s stock after selling 3,623 shares during the period. Cresset Asset Management LLC’s holdings in Tenet Healthcare were worth $388,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Tenet Healthcare during the first quarter valued at approximately $212,000. Envestnet Asset Management Inc. raised its stake in shares of Tenet Healthcare by 3.3% during the first quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company’s stock valued at $27,382,000 after acquiring an additional 6,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tenet Healthcare by 65.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company’s stock valued at $189,000 after acquiring an additional 562 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Tenet Healthcare by 28.1% during the first quarter. GAMMA Investing LLC now owns 1,430 shares of the company’s stock valued at $192,000 after acquiring an additional 314 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Tenet Healthcare in the first quarter worth approximately $1,986,000. Institutional investors own 95.44% of the company’s stock.

Insider Activity

In other news, Director James L. Bierman sold 4,613 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $170.00, for a total transaction of $784,210.00. Following the sale, the director directly owned 35,271 shares of the company’s stock, valued at $5,996,070. The trade was a 11.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher S. Lynch sold 3,952 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total transaction of $697,093.28. Following the completion of the sale, the director directly owned 12,358 shares in the company, valued at approximately $2,179,827.62. The trade was a 24.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,989 shares of company stock valued at $5,369,512. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare Price Performance

Shares of THC opened at $179.57 on Monday. The firm has a market capitalization of $15.87 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 0.77 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, 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 $185.25. The company’s fifty day moving average price is $168.67 and its 200-day moving average price is $149.71.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $1.18. The firm had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. On average, equities research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on THC shares. JPMorgan Chase & Co. boosted their price objective on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Wolfe Research downgraded shares of Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 28th. Mizuho boosted their price objective on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, July 11th. Royal Bank Of Canada boosted their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen raised Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.88.

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.