Mount Lucas Management LP Sells 3,729 Shares of Tenet Healthcare Corporation $THC

Mount Lucas Management LP decreased its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 50.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,712 shares of the company’s stock after selling 3,729 shares during the period. Mount Lucas Management LP’s holdings in Tenet Healthcare were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. SVB Wealth LLC bought a new position in Tenet Healthcare in the 1st quarter valued at $30,000. N.E.W. Advisory Services LLC acquired a new position in Tenet Healthcare during the 1st quarter worth about $31,000. Brooklyn Investment Group grew its holdings 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 last quarter. Chung Wu Investment Group LLC bought a new position in shares of Tenet Healthcare in the second quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Tenet Healthcare by 2,227.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 256 shares of the company’s stock worth $45,000 after purchasing an additional 245 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $192.34 on Tuesday. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $217.43. The stock 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. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.63. The business has a 50-day moving average of $198.90 and a 200-day moving average of $179.19.

Tenet Healthcare (NYSE:THC) last issued its 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 company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the prior year, the firm earned $2.93 EPS. Tenet Healthcare’s quarterly 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. As a group, sell-side analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on THC. Wells Fargo & Company increased their price objective on shares of Tenet Healthcare from $238.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Truist Financial restated a “buy” rating and set a $240.00 target price (up previously from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Zacks Research cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Barclays lifted their price objective on shares of Tenet Healthcare from $208.00 to $229.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Finally, Raymond James Financial set a $245.00 target price on shares of Tenet Healthcare in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, CEO Saumya Sutaria sold 78,762 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the transaction, the chief executive officer owned 368,683 shares in the company, valued at $70,337,342.74. This trade represents a 17.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Y. Foo sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the transaction, the executive vice president directly owned 20,878 shares in the company, valued at $3,748,227.34. This represents a 27.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 130,092 shares of company stock worth $25,280,903 in the last 90 days. Company insiders own 0.81% of the company’s stock.

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.