AE Wealth Management LLC Has $1.26 Million Stock Holdings in Tenet Healthcare Corporation $THC

AE Wealth Management LLC raised its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 28.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,133 shares of the company’s stock after purchasing an additional 1,569 shares during the quarter. AE Wealth Management LLC’s holdings in Tenet Healthcare were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of THC. Savant Capital LLC grew its position in Tenet Healthcare by 8.8% in the second quarter. Savant Capital LLC now owns 13,247 shares of the company’s stock valued at $2,331,000 after acquiring an additional 1,066 shares during the period. Advisors Preferred LLC bought a new stake in shares of Tenet Healthcare in the 2nd quarter worth about $954,000. Bank of Montreal Can increased its position in shares of Tenet Healthcare by 19.1% during the 2nd quarter. Bank of Montreal Can now owns 31,944 shares of the company’s stock worth $5,622,000 after purchasing an additional 5,128 shares in the last quarter. South Dakota Investment Council boosted its position in Tenet Healthcare by 5.2% in the second quarter. South Dakota Investment Council now owns 52,514 shares of the company’s stock valued at $9,242,000 after buying an additional 2,600 shares in the last quarter. Finally, Simon Quick Advisors LLC bought a new stake in Tenet Healthcare during the second quarter worth about $269,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $200.08 on Thursday. The business’s 50-day simple moving average is $198.89 and its 200 day simple moving average is $177.72. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. The stock has a market cap of $17.58 billion, a price-to-earnings ratio of 13.71, 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.

Tenet Healthcare (NYSE:THC) last released its earnings results 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 net margin of 6.49% and a return on equity of 25.11%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the prior year, the company posted $2.93 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, research analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on THC. KeyCorp boosted their target price on Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Weiss Ratings upgraded Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Truist Financial restated a “buy” rating and set a $240.00 target price (up previously from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Mizuho lifted their price target on Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Bank of America increased their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $226.25.

Insider Transactions at Tenet Healthcare

In related news, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the completion of the sale, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the completion of the transaction, the chief executive officer directly owned 368,683 shares in the company, valued at $70,337,342.74. The trade was a 17.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 134,044 shares of company stock valued at $25,977,997. 0.81% of the stock is currently owned by company insiders.

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.