Strs Ohio Invests $1.55 Million in Tenet Healthcare Corporation $THC

Strs Ohio acquired a new stake in Tenet Healthcare Corporation (NYSE:THC) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,526 shares of the company’s stock, valued at approximately $1,550,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Tenet Healthcare during the first quarter worth $26,000. Wayfinding Financial LLC bought a new stake in shares of Tenet Healthcare during the first quarter worth about $28,000. SVB Wealth LLC bought a new stake in Tenet Healthcare in the 1st quarter worth about $30,000. N.E.W. Advisory Services LLC purchased a new position in Tenet Healthcare in the first quarter valued at about $31,000. Finally, Brooklyn Investment Group lifted its stake in Tenet Healthcare by 908.7% in the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock worth $31,000 after purchasing an additional 209 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Trading Down 2.2%

NYSE:THC opened at $182.73 on Wednesday. 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 12-month low of $109.82 and a 12-month high of $199.99. The business has a 50 day simple moving average of $174.38 and a 200 day simple moving average of $155.98. The firm has a market capitalization of $16.14 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.80 and a beta of 1.55.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on THC. Bank of America lifted their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. JPMorgan Chase & Co. raised their price target 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. Wells Fargo & Company lifted their target price on shares of Tenet Healthcare from $195.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Barclays dropped their price target on shares of Tenet Healthcare from $215.00 to $208.00 and set an “overweight” rating on the stock in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.50.

Insider Activity

In other Tenet Healthcare news, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the completion of the sale, the chief executive officer directly owned 368,683 shares in the company, valued at approximately $70,337,342.74. This trade represents a 17.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher S. Lynch sold 3,952 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total transaction of $697,093.28. Following the transaction, the director directly owned 12,358 shares in the company, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,722 shares of company stock worth $17,161,015 over the last three months. Corporate insiders own 0.81% of the company’s stock.

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.