12,521 Shares in Tenet Healthcare Corporation $THC Bought by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd purchased a new position in Tenet Healthcare Corporation (NYSE:THC) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,521 shares of the company’s stock, valued at approximately $2,204,000. Tenet Healthcare comprises about 1.6% of Persistent Asset Partners Ltd’s holdings, making the stock its 13th largest holding.

A number of other institutional investors have also made changes to their positions in THC. Cetera Investment Advisers boosted its position in Tenet Healthcare by 0.4% during the second quarter. Cetera Investment Advisers now owns 28,924 shares of the company’s stock worth $5,091,000 after purchasing an additional 104 shares during the period. Creative Planning boosted its holdings in shares of Tenet Healthcare by 7.4% during the 2nd quarter. Creative Planning now owns 14,980 shares of the company’s stock worth $2,636,000 after buying an additional 1,035 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Tenet Healthcare by 5.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,865 shares of the company’s stock valued at $4,200,000 after buying an additional 1,133 shares during the last quarter. Donoghue Forlines LLC bought a new position in Tenet Healthcare in the 2nd quarter worth $2,947,000. Finally, Oak Harvest Investment Services bought a new stake in Tenet Healthcare during the second quarter valued at about $245,000. 95.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Tenet Healthcare from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird dropped their price target on Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Wolfe Research cut Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 28th. Wells Fargo & Company boosted their target price on shares of Tenet Healthcare from $238.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, KeyCorp increased their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Richard W. Fisher sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $208.43, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lisa Y. Foo sold 8,000 shares of Tenet Healthcare stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total value of $1,436,240.00. Following the transaction, the executive vice president directly owned 20,878 shares of the company’s stock, valued at approximately $3,748,227.34. The trade was a 27.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 134,044 shares of company stock worth $25,977,997 over the last quarter. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Price Performance

NYSE:THC 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 company has a 50-day moving average of $198.89 and a 200-day moving average of $178.61. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $217.43. The company has a market capitalization of $16.90 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 0.89 and a beta of 1.53.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.37. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter 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. As a group, equities research analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

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.