Tenet Healthcare Corporation $THC Shares Acquired by Brookstone Capital Management

Brookstone Capital Management grew its position in Tenet Healthcare Corporation (NYSE:THC) by 25.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,132 shares of the company’s stock after acquiring an additional 3,278 shares during the period. Brookstone Capital Management’s holdings in Tenet Healthcare were worth $3,275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB increased its stake in Tenet Healthcare by 95.6% during the third quarter. Swedbank AB now owns 127,383 shares of the company’s stock worth $25,864,000 after purchasing an additional 62,257 shares during the period. Trust Co. of Vermont acquired a new position in Tenet Healthcare during the 3rd quarter worth $41,000. Farther Finance Advisors LLC raised its position in Tenet Healthcare by 5.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,748 shares of the company’s stock valued at $558,000 after purchasing an additional 133 shares in the last quarter. Parcion Private Wealth LLC acquired a new position in shares of Tenet Healthcare during the third quarter worth about $230,000. Finally, Kaufman Rossin Wealth LLC purchased a new stake in shares of Tenet Healthcare during the third quarter worth approximately $258,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $205.11, for a total transaction of $2,732,475.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard W. Fisher sold 2,500 shares of the firm’s 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 sale, the director directly owned 8,792 shares in the company, valued at $1,832,516.56. This represents a 22.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 45,500 shares of company stock worth $9,247,071. 0.81% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Up 1.4%

Tenet Healthcare stock opened at $200.45 on Friday. The stock has a 50-day simple moving average of $203.22 and a 200-day simple moving average of $187.45. The company has a market capitalization of $17.62 billion, a P/E ratio of 13.74, a PEG ratio of 0.88 and a beta of 1.44. 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 Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $222.82.

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. 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 during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter last year, the firm posted $2.93 EPS. The business’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. Equities research analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Tenet Healthcare in a report on Tuesday, October 14th. They set a “buy” rating and a $224.00 price target for the company. Raymond James Financial set a $245.00 target price on shares of Tenet Healthcare in a research note on Wednesday, October 29th. Barclays raised their price target on Tenet Healthcare from $229.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Guggenheim increased their price objective on Tenet Healthcare from $238.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Finally, Wall Street Zen cut Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $231.81.

Tenet Healthcare Profile

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.