Signaturefd LLC Boosts Stake in Tenet Healthcare Corporation $THC

Signaturefd LLC increased its position in Tenet Healthcare Corporation (NYSE:THC) by 11.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 732 shares of the company’s stock after buying an additional 74 shares during the period. Signaturefd LLC’s holdings in Tenet Healthcare were worth $129,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in THC. US Bancorp DE increased its stake in Tenet Healthcare by 0.8% during the first quarter. US Bancorp DE now owns 8,620 shares of the company’s stock worth $1,159,000 after acquiring an additional 68 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Tenet Healthcare by 2.8% during the second quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $460,000 after acquiring an additional 70 shares during the last quarter. Lindbrook Capital LLC increased its stake in Tenet Healthcare by 5.3% during the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock worth $192,000 after acquiring an additional 72 shares during the last quarter. Vista Investment Partners LLC increased its stake in Tenet Healthcare by 0.3% during the second quarter. Vista Investment Partners LLC now owns 25,257 shares of the company’s stock worth $4,445,000 after acquiring an additional 76 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Tenet Healthcare by 10.4% during the first quarter. Covestor Ltd now owns 873 shares of the company’s stock valued at $117,000 after buying an additional 82 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on THC. Mizuho upped their price objective on Tenet Healthcare from $184.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, July 11th. UBS Group upped their price objective on Tenet Healthcare from $230.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $200.00 price objective (up previously from $185.00) on shares of Tenet Healthcare in a research report on Wednesday, July 23rd. Bank of America upped their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Finally, Robert W. Baird dropped their price objective on Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $196.81.

Insider Buying and Selling

In related news, EVP Lisa Y. Foo sold 8,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total value of $1,436,240.00. Following the completion of the transaction, the executive vice president owned 20,878 shares in the company, valued at $3,748,227.34. This trade represents a 27.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher S. Lynch sold 3,952 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total value of $697,093.28. Following the completion of the transaction, the director owned 12,358 shares of the company’s stock, valued at $2,179,827.62. This trade represents a 24.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,722 shares of company stock worth $17,161,015 in the last 90 days. Insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $202.93 on Friday. The firm has a market capitalization of $17.93 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 0.87 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. The business has a fifty day moving average of $181.85 and a 200 day moving average of $162.23. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $205.99.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $1.18. The company had revenue of $5.27 billion during 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 firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, research analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current 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.