2,212 Shares in Tenet Healthcare Corporation $THC Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. bought a new stake in Tenet Healthcare Corporation (NYSE:THC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 2,212 shares of the company’s stock, valued at approximately $389,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cambridge Investment Research Advisors Inc. purchased a new stake in Tenet Healthcare during the 1st quarter worth approximately $212,000. Envestnet Asset Management Inc. increased its position in shares of Tenet Healthcare by 3.3% during the first quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company’s stock worth $27,382,000 after acquiring an additional 6,424 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Tenet Healthcare by 65.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company’s stock valued at $189,000 after purchasing an additional 562 shares during the period. Royal Bank of Canada grew its stake in Tenet Healthcare by 34.0% during the 1st quarter. Royal Bank of Canada now owns 119,349 shares of the company’s stock worth $16,052,000 after purchasing an additional 30,281 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Tenet Healthcare by 28.1% during the 1st quarter. GAMMA Investing LLC now owns 1,430 shares of the company’s stock worth $192,000 after purchasing an additional 314 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $202.93 on Friday. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $205.99. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. The firm has a market cap of $17.93 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.87 and a beta of 1.52. The stock’s 50-day moving average is $181.85 and its two-hundred day moving average is $162.23.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $1.18. The firm had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insider Buying and Selling

In other Tenet Healthcare news, Director Christopher S. Lynch sold 3,952 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $176.39, for a total transaction of $697,093.28. Following the transaction, the director directly owned 12,358 shares of the company’s stock, valued at approximately $2,179,827.62. This trade represents a 24.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the completion of the sale, the executive vice president directly owned 20,878 shares of the company’s stock, valued at $3,748,227.34. The trade was a 27.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,722 shares of company stock worth $17,161,015 in the last 90 days. Company insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on THC. UBS Group boosted their price objective on Tenet Healthcare from $230.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Bank of America increased their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Robert W. Baird lowered their target price on shares of Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Raymond James Financial restated an “outperform” rating and issued a $200.00 price target (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $196.81.

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.