Tenet Healthcare Corporation $THC Shares Acquired by Creative Planning

Creative Planning raised its holdings in Tenet Healthcare Corporation (NYSE:THC) by 7.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,980 shares of the company’s stock after acquiring an additional 1,035 shares during the quarter. Creative Planning’s holdings in Tenet Healthcare were worth $2,636,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Chung Wu Investment Group LLC acquired a new stake in shares of Tenet Healthcare in the second quarter worth approximately $35,000. SVB Wealth LLC purchased a new position in shares of Tenet Healthcare in the first quarter valued at $30,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Tenet Healthcare during the first quarter valued at about $31,000. Brooklyn Investment Group increased its holdings in Tenet Healthcare by 908.7% during the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock worth $31,000 after purchasing an additional 209 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Tenet Healthcare by 2,227.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 256 shares of the company’s stock valued at $45,000 after acquiring an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $215.18 on Tuesday. The stock has a market cap of $18.91 billion, a PE ratio of 14.75, a price-to-earnings-growth 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. 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 business has a fifty day simple moving average of $199.29 and a 200-day simple moving average of $180.81.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.37. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $2.93 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. On average, sell-side analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on THC shares. The Goldman Sachs Group began coverage on Tenet Healthcare in a report on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price on the stock. Mizuho upped their target price on shares of Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Truist Financial restated a “buy” rating and set a $240.00 price objective (up from $225.00) on shares of Tenet Healthcare in a research note on Monday, November 3rd. Wolfe Research lowered Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $229.69.

Insider Activity at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,500 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total transaction of $521,075.00. Following the transaction, the director directly owned 8,792 shares in the company, valued at $1,832,516.56. The trade was a 22.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $205.11, for a total value of $2,732,475.42. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 122,092 shares of company stock worth $23,844,663. Corporate insiders own 0.81% of the company’s stock.

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.