Cerity Partners LLC Boosts Stock Position in Tenet Healthcare Corporation $THC

Cerity Partners LLC grew its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 10.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,623 shares of the company’s stock after purchasing an additional 11,395 shares during the period. Cerity Partners LLC owned 0.14% of Tenet Healthcare worth $21,230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of THC. SVB Wealth LLC purchased a new stake in Tenet Healthcare in the 1st quarter worth approximately $30,000. Brooklyn Investment Group boosted its holdings in shares of Tenet Healthcare by 908.7% during the first 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. Chung Wu Investment Group LLC purchased a new stake in shares of Tenet Healthcare in the second quarter valued at $35,000. Caitong International Asset Management Co. Ltd increased its stake 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 purchasing an additional 245 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in Tenet Healthcare by 238.2% in the 2nd quarter. True Wealth Design LLC now owns 257 shares of the company’s stock worth $45,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Activity

In other Tenet Healthcare news, Director Tammy Romo sold 645 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $205.20, for a total transaction of $132,354.00. Following the sale, the director directly owned 34,866 shares in the company, valued at $7,154,503.20. The trade was a 1.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard W. Fisher sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total value of $521,075.00. Following the transaction, the director owned 8,792 shares of the company’s stock, valued at approximately $1,832,516.56. This trade represents a 22.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 43,322 shares of company stock worth $8,816,982 over the last ninety days. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $201.93 on Wednesday. The firm has a market capitalization of $17.75 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $222.82. The stock’s 50 day moving average price is $203.46 and its 200 day moving average price is $184.82. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.64 and a current ratio of 1.71.

Tenet Healthcare (NYSE:THC) last posted 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. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, sell-side analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on THC shares. Zacks Research downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Royal Bank Of Canada lifted their price target on shares of Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Bank of America upped their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Barclays lifted their target price on Tenet Healthcare from $229.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, November 21st. Finally, Wells Fargo & Company upped their price target on Tenet Healthcare from $238.00 to $252.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. One research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $230.88.

About Tenet Healthcare

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.