Tenet Healthcare Corporation $THC Stock Position Lessened by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership reduced its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 51.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 581,105 shares of the company’s stock after selling 607,637 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Tenet Healthcare were worth $102,274,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of THC. Price T Rowe Associates Inc. MD lifted its stake in shares of Tenet Healthcare by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock worth $1,021,736,000 after acquiring an additional 463,552 shares during the period. Boston Partners raised its holdings in Tenet Healthcare by 95.0% during the second quarter. Boston Partners now owns 2,267,142 shares of the company’s stock worth $398,949,000 after purchasing an additional 1,104,500 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Tenet Healthcare by 348.4% in the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company’s stock worth $263,905,000 after purchasing an additional 1,524,642 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Tenet Healthcare by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company’s stock valued at $225,297,000 after purchasing an additional 181,667 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Tenet Healthcare in the 1st quarter worth $218,549,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 1.7%

THC stock opened at $211.16 on Thursday. The company has a 50 day moving average of $202.92 and a two-hundred day moving average of $183.47. 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 Corporation has a 12-month low of $109.82 and a 12-month high of $222.82. The company has a market cap of $18.56 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 0.94 and a beta of 1.44.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.37. The business 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 revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. On average, equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on THC shares. Truist Financial reaffirmed a “buy” rating and set a $240.00 target price (up from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Mizuho boosted their target price on shares of Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Barclays lifted their price target on shares of Tenet Healthcare from $229.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Cantor Fitzgerald increased their price objective on Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $230.88.

Insider Transactions at Tenet Healthcare

In other news, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 368,683 shares in the company, valued at $70,337,342.74. The trade was a 17.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $205.11, for a total value of $2,732,475.42. The disclosure for this sale is available in the SEC filing. Insiders sold 122,084 shares of company stock valued at $23,843,196 over the last 90 days. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare 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.