Brookstone Capital Management Boosts Stock Position in Tenet Healthcare Corporation $THC

Brookstone Capital Management increased its position in Tenet Healthcare Corporation (NYSE:THC) by 25.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,132 shares of the company’s stock after acquiring an additional 3,278 shares during the quarter. Brookstone Capital Management’s holdings in Tenet Healthcare were worth $3,275,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Chung Wu Investment Group LLC purchased a new stake in shares of Tenet Healthcare in the second quarter worth $35,000. Trust Co. of Vermont purchased a new stake in Tenet Healthcare in the 3rd quarter worth $41,000. Canada Pension Plan Investment Board purchased a new position in shares of Tenet Healthcare in the second quarter valued at about $35,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 worth $45,000 after acquiring an additional 245 shares during the period. Finally, True Wealth Design LLC grew its position in shares of Tenet Healthcare by 238.2% during the second quarter. True Wealth Design LLC now owns 257 shares of the company’s stock worth $45,000 after purchasing an additional 181 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

THC has been the subject of several recent analyst reports. Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Cantor Fitzgerald raised their price target on Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. KeyCorp upped their price target 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. Weiss Ratings restated a “hold (c+)” rating on shares of Tenet Healthcare in a research note on Monday, December 22nd. Finally, Bank of America boosted their price target on Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.81.

Tenet Healthcare Stock Up 1.4%

Shares of THC opened at $200.45 on Friday. The company has a market capitalization of $17.62 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.88 and a beta of 1.44. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $222.82. The stock’s 50-day moving average price is $203.22 and its 200-day moving average price is $187.45. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.27.

Tenet Healthcare (NYSE:THC) last announced 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. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.Tenet Healthcare’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.93 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. On average, sell-side analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Activity

In other Tenet Healthcare news, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total value of $2,732,475.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tammy Romo sold 645 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $7,154,503.20. The trade was a 1.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,500 shares of company stock worth $9,247,071 in the last ninety days. Corporate insiders own 0.81% of the company’s stock.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.