Boston Partners Acquires 1,104,500 Shares of Tenet Healthcare Corporation $THC

Boston Partners raised its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 95.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,267,142 shares of the company’s stock after purchasing an additional 1,104,500 shares during the quarter. Boston Partners owned 2.57% of Tenet Healthcare worth $398,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of THC. AE Wealth Management LLC boosted its holdings in Tenet Healthcare by 92.2% during the 1st quarter. AE Wealth Management LLC now owns 5,564 shares of the company’s stock valued at $748,000 after acquiring an additional 2,669 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of Tenet Healthcare by 9.2% during the first quarter. Avantax Advisory Services Inc. now owns 5,934 shares of the company’s stock worth $798,000 after purchasing an additional 501 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Tenet Healthcare by 37.1% during the first quarter. Cetera Investment Advisers now owns 28,820 shares of the company’s stock valued at $3,876,000 after purchasing an additional 7,801 shares during the period. TD Asset Management Inc increased its stake in Tenet Healthcare by 6.2% in the 1st quarter. TD Asset Management Inc now owns 130,253 shares of the company’s stock worth $17,519,000 after buying an additional 7,608 shares during the period. Finally, LPL Financial LLC boosted its position in Tenet Healthcare by 2.8% in the 1st quarter. LPL Financial LLC now owns 69,028 shares of the company’s stock valued at $9,284,000 after buying an additional 1,892 shares during the period. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,500 shares of the company’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 sale, the director owned 8,792 shares in the company, valued at $1,832,516.56. This represents a 22.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total transaction of $2,732,475.42. The disclosure for this sale is available in the SEC filing. Over the last ninety days, 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 Trading Up 1.7%

Shares of Tenet Healthcare stock opened at $218.37 on Wednesday. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $220.31. The firm’s 50 day simple moving average is $200.01 and its two-hundred day simple moving average is $181.30. 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 firm has a market capitalization of $19.19 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 0.89 and a beta of 1.53.

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. UBS Group raised their target price on shares of Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Morgan Stanley set a $232.00 price objective on shares of Tenet Healthcare and gave the company an “overweight” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Tenet Healthcare in a report on Monday. Barclays lifted their price target on Tenet Healthcare from $229.00 to $240.00 and gave the company an “overweight” rating in a report on Friday. Finally, Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One investment 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $229.69.

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.