AXQ Capital LP Buys New Position in Tenet Healthcare Corporation $THC

AXQ Capital LP purchased a new position in Tenet Healthcare Corporation (NYSE:THC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,383 shares of the company’s stock, valued at approximately $243,000.

A number of other hedge funds have also bought and sold shares of THC. Journey Strategic Wealth LLC purchased a new position in Tenet Healthcare in the second quarter valued at about $241,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Tenet Healthcare in the second quarter worth $3,062,000. Entropy Technologies LP bought a new position in shares of Tenet Healthcare in the 2nd quarter worth $3,249,000. Catalyst Funds Management Pty Ltd purchased a new position in Tenet Healthcare in the second quarter worth $1,021,000. Finally, GDS Wealth Management grew its stake in shares of Tenet Healthcare by 16.8% during the second quarter. GDS Wealth Management now owns 75,119 shares of the company’s stock valued at $13,221,000 after buying an additional 10,788 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

THC has been the topic of a number of recent analyst reports. Truist Financial reiterated a “buy” rating and issued a $240.00 price objective (up from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. Guggenheim raised their price objective on shares of Tenet Healthcare from $221.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. boosted their target price on Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Wells Fargo & Company raised their price objective on shares of Tenet Healthcare from $238.00 to $252.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Finally, Royal Bank Of Canada lifted their target price on shares of Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $229.69.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $218.37 on Wednesday. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $220.31. The stock’s fifty day moving average is $200.01 and its two-hundred day moving average is $181.30. The company has a market capitalization of $19.19 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.89 and a beta of 1.53. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, topping 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 business 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 firm earned $2.93 EPS. The company’s revenue for the quarter 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, analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Activity

In related news, Director Richard W. Fisher sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $208.43, for a total value of $521,075.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tammy Romo sold 15,099 shares of Tenet Healthcare stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $200.81, for a total value of $3,032,030.19. Following the transaction, the director owned 47,267 shares of the company’s stock, valued at $9,491,686.27. The trade was a 24.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 122,092 shares of company stock valued at $23,844,663. Company insiders own 0.81% of the company’s stock.

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.