Oak Harvest Investment Services Invests $245,000 in Tenet Healthcare Corporation $THC

Oak Harvest Investment Services purchased a new stake in Tenet Healthcare Corporation (NYSE:THC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,391 shares of the company’s stock, valued at approximately $245,000.

A number of other institutional investors have also recently bought and sold shares of THC. Price T Rowe Associates Inc. MD increased its holdings in shares of Tenet Healthcare by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock worth $1,021,736,000 after purchasing an additional 463,552 shares during the period. Boston Partners grew its position in Tenet Healthcare by 94.2% during the second quarter. Boston Partners now owns 2,258,272 shares of the company’s stock worth $397,388,000 after buying an additional 1,095,630 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in 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 acquiring an additional 1,524,642 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Tenet Healthcare by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company’s stock valued at $225,297,000 after buying an additional 181,667 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at approximately $218,549,000. Institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 78,762 shares of the business’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 $9,491,686.27. This trade represents a 24.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 134,044 shares of company stock worth $25,977,997 over the last ninety days. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare Stock Down 2.2%

Tenet Healthcare stock opened at $192.30 on Friday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.63 and a current ratio of 1.71. The firm has a market cap of $16.90 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 0.89 and a beta of 1.53. The firm has a 50 day moving average price of $198.89 and a two-hundred day moving average price of $178.33. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $217.43.

Tenet Healthcare (NYSE:THC) last issued 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. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same period last year, the business 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 analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Analyst Ratings Changes

THC has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Tenet Healthcare from $200.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday. Wolfe Research downgraded shares of Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 28th. Zacks Research downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Mizuho raised their price objective on Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Robert W. Baird lowered their target price on Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

About Tenet Healthcare

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.