3,395 Shares in Tenet Healthcare Corporation $THC Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. purchased a new stake in Tenet Healthcare Corporation (NYSE:THC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,395 shares of the company’s stock, valued at approximately $598,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tenet Healthcare by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock valued at $1,021,736,000 after acquiring an additional 463,552 shares during the period. Boston Partners raised its position in Tenet Healthcare by 95.0% in the 2nd quarter. Boston Partners now owns 2,267,142 shares of the company’s stock valued at $398,949,000 after purchasing an additional 1,104,500 shares during the last quarter. Ameriprise Financial Inc. grew its position in Tenet Healthcare by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock worth $373,020,000 after purchasing an additional 157,109 shares during the last quarter. Norges Bank purchased a new stake in shares of Tenet Healthcare in the second quarter valued at about $206,981,000. Finally, AQR Capital Management LLC boosted its stake in shares of Tenet Healthcare by 28.0% during the second quarter. AQR Capital Management LLC now owns 1,156,263 shares of the company’s stock worth $200,224,000 after buying an additional 252,993 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,500 shares of Tenet Healthcare stock in a transaction dated Wednesday, October 29th. The stock was 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 approximately $1,832,516.56. The trade was a 22.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tammy Romo sold 645 shares of the firm’s 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 transaction, the director directly owned 34,866 shares of the company’s stock, valued at $7,154,503.20. This represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 43,322 shares of company stock valued at $8,816,982. 0.81% of the stock is currently owned by corporate insiders.

Tenet Healthcare Trading Down 0.2%

Tenet Healthcare stock opened at $196.91 on Wednesday. The firm has a 50 day simple moving average of $202.97 and a 200-day simple moving average of $185.94. The stock has a market capitalization of $17.31 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.86 and a beta of 1.44. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $222.82. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64.

Tenet Healthcare (NYSE:THC) last released its quarterly 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 business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the previous year, the business earned $2.93 earnings per share. The firm’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, equities research analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on THC shares. Truist Financial reiterated a “buy” rating and issued a $240.00 target price (up from $225.00) on shares of Tenet Healthcare in a research note on Monday, November 3rd. Guggenheim lifted their price objective on shares of Tenet Healthcare from $238.00 to $257.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Royal Bank Of Canada increased their price target on shares of Tenet Healthcare from $230.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. KeyCorp raised their target price on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Finally, Barclays increased their target price on Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.