Axxcess Wealth Management LLC Takes $619,000 Position in Tenet Healthcare Corporation $THC

Axxcess Wealth Management LLC acquired a new stake in Tenet Healthcare Corporation (NYSE:THC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,516 shares of the company’s stock, valued at approximately $619,000.

Other large investors have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare in the 1st quarter valued at about $26,000. Wayfinding Financial LLC acquired a new stake in shares of Tenet Healthcare in the first quarter valued at approximately $28,000. SVB Wealth LLC acquired a new stake in Tenet Healthcare during the 1st quarter worth $30,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Tenet Healthcare during the first quarter worth about $31,000. Finally, Brooklyn Investment Group lifted its position in Tenet Healthcare by 908.7% during the 1st quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock worth $31,000 after acquiring an additional 209 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $199.89 on Friday. The stock has a market cap of $17.66 billion, a PE ratio of 12.80, a P/E/G ratio of 0.85 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $207.14. The stock has a fifty day moving average price of $189.23 and a 200 day moving average price of $166.82.

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 the consensus estimate of $2.84 by $1.18. The business had revenue of $5.27 billion during 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 business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. Sell-side analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on THC shares. Truist Financial set a $225.00 target price on shares of Tenet Healthcare in a research note on Tuesday. UBS Group raised their price objective on shares of Tenet Healthcare from $230.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Bank of America raised 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. The Goldman Sachs Group initiated coverage on Tenet Healthcare in a report on Tuesday. They issued a “buy” rating and a $224.00 price target for the company. Finally, KeyCorp raised their target price on Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.25.

Insider Buying and Selling

In other news, CEO Saumya Sutaria sold 78,762 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total value of $15,026,214.36. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of the business’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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 90,722 shares of company stock worth $17,161,015 in the last ninety days. 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.