Tenet Healthcare Corporation $THC Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in Tenet Healthcare Corporation (NYSE:THC) by 17.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 168,327 shares of the company’s stock after selling 35,255 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.18% of Tenet Healthcare worth $29,626,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Chung Wu Investment Group LLC acquired a new position in shares of Tenet Healthcare in the 2nd quarter worth $35,000. Wayfinding Financial LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter worth $28,000. SVB Wealth LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter worth $30,000. N.E.W. Advisory Services LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter worth $31,000. Finally, Brooklyn Investment Group grew its holdings in shares of 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 acquiring an additional 209 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 8,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 20,878 shares of the company’s stock, valued at $3,748,227.34. The trade was a 27.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard W. Fisher sold 2,500 shares of the business’s 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 completion of the sale, the director directly owned 8,792 shares of the company’s stock, valued at $1,832,516.56. This represents a 22.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 93,222 shares of company stock worth $17,682,090 over the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on THC shares. Barclays lifted their target price on Tenet Healthcare from $208.00 to $229.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Royal Bank Of Canada raised their target price on Tenet Healthcare from $230.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday. Raymond James Financial set a $245.00 target price on Tenet Healthcare in a research report on Wednesday. Zacks Research cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. raised their target price on Tenet Healthcare from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.31.

Tenet Healthcare Price Performance

THC opened at $206.53 on Monday. The stock has a market cap of $18.25 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.89 and a beta of 1.52. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $217.43. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.27. The stock has a fifty day moving average price of $195.84 and a 200 day moving average price of $173.45.

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

Tenet Healthcare Company 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.