AE Wealth Management LLC Purchases 1,569 Shares of Tenet Healthcare Corporation $THC

AE Wealth Management LLC grew its position in Tenet Healthcare Corporation (NYSE:THC) by 28.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,133 shares of the company’s stock after buying an additional 1,569 shares during the period. AE Wealth Management LLC’s holdings in Tenet Healthcare were worth $1,255,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Tenet Healthcare in the first quarter valued at about $218,549,000. Ameriprise Financial Inc. grew its position in shares of Tenet Healthcare by 348.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company’s stock valued at $263,905,000 after purchasing an additional 1,524,642 shares during the period. Boston Partners raised its holdings in Tenet Healthcare by 692.9% during the 1st quarter. Boston Partners now owns 1,162,642 shares of the company’s stock worth $156,318,000 after buying an additional 1,016,010 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in 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 buying an additional 463,552 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Tenet Healthcare by 111.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 469,529 shares of the company’s stock valued at $63,152,000 after buying an additional 247,314 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Up 0.9%

NYSE:THC opened at $200.08 on Thursday. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 13.71, 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 Corporation has a twelve month low of $109.82 and a twelve month high of $217.43. The stock’s 50 day moving average price is $198.89 and its two-hundred day moving average price is $177.72.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Tenet Healthcare from $208.00 to $229.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. UBS Group boosted their price target on Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Truist Financial reiterated a “buy” rating and set a $240.00 price objective (up from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Zacks Research cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, KeyCorp raised their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and a consensus price target of $226.25.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 78,762 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the transaction, the chief executive officer owned 368,683 shares of the company’s stock, valued at $70,337,342.74. The trade was a 17.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tammy Romo sold 15,099 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 47,267 shares of the company’s stock, valued at approximately $9,491,686.27. The trade was a 24.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 134,044 shares of company stock valued at $25,977,997 in the last three months. Corporate insiders own 0.81% of the company’s stock.

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.