Rhenman & Partners Asset Management AB Raises Stock Holdings in Tenet Healthcare Corporation $THC

Rhenman & Partners Asset Management AB grew its stake in Tenet Healthcare Corporation (NYSE:THC) by 7.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,429 shares of the company’s stock after acquiring an additional 9,729 shares during the quarter. Tenet Healthcare accounts for 3.0% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 6th biggest position. Rhenman & Partners Asset Management AB’s holdings in Tenet Healthcare were worth $24,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of THC. SVB Wealth LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at $30,000. N.E.W. Advisory Services LLC acquired a new position in shares of Tenet Healthcare during the first quarter worth about $31,000. Brooklyn Investment Group grew its holdings in shares of Tenet Healthcare by 908.7% during the first quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock worth $31,000 after buying an additional 209 shares in the last quarter. Chung Wu Investment Group LLC acquired a new stake in Tenet Healthcare in the 2nd quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Tenet Healthcare by 2,227.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 256 shares of the company’s stock worth $45,000 after acquiring an additional 245 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tenet Healthcare news, insider R. Scott Ramsey sold 13,322 shares of Tenet Healthcare stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $205.11, for a total value of $2,732,475.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard W. Fisher sold 2,500 shares of the 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 approximately $1,832,516.56. This trade represents a 22.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 122,092 shares of company stock worth $23,844,663 in the last quarter. Insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on THC shares. Bank of America boosted their price objective on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Royal Bank Of Canada raised their target price on shares of Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Wells Fargo & Company upped their target price 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. Morgan Stanley set a $232.00 price target on Tenet Healthcare and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $240.00 price objective (up from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. One research 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, Tenet Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $229.69.

Tenet Healthcare Trading Up 1.7%

Shares of THC stock opened at $218.37 on Wednesday. The company has a market capitalization of $19.19 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.89 and a beta of 1.53. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $220.31. The firm has a 50 day moving average price of $200.01 and a two-hundred day moving average price of $181.30.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the firm posted $2.93 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

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.