Leuthold Group LLC Cuts Stock Position in Tenet Healthcare Corporation $THC

Leuthold Group LLC trimmed its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 11.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,857 shares of the company’s stock after selling 3,910 shares during the period. Leuthold Group LLC’s holdings in Tenet Healthcare were worth $5,079,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in Tenet Healthcare by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock worth $1,021,736,000 after buying an additional 463,552 shares during the last quarter. Boston Partners lifted its position in shares of Tenet Healthcare by 95.0% in the second quarter. Boston Partners now owns 2,267,142 shares of the company’s stock valued at $398,949,000 after acquiring an additional 1,104,500 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Tenet Healthcare by 348.4% during the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company’s stock worth $263,905,000 after purchasing an additional 1,524,642 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 purchasing an additional 181,667 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Tenet Healthcare in the 1st quarter valued at $218,549,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were 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 of the company’s stock, valued at approximately $1,832,516.56. The trade was a 22.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $205.11, for a total transaction of $2,732,475.42. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 122,084 shares of company stock valued at $23,843,196 over the last 90 days. Insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on THC shares. Mizuho increased their target price on shares of Tenet Healthcare from $194.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Zacks Research lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Morgan Stanley set a $232.00 price target on Tenet Healthcare and gave the company an “overweight” rating in a research report on Wednesday, October 29th. UBS Group lifted their price objective on Tenet Healthcare from $238.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Guggenheim upped their target price on Tenet Healthcare from $221.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and a consensus target price of $229.69.

Tenet Healthcare Price Performance

THC stock opened at $216.84 on Friday. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $221.00. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.27. The stock has a market cap of $19.06 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 0.89 and a beta of 1.53. The business has a fifty day moving average of $201.77 and a two-hundred day moving average of $182.41.

Tenet Healthcare (NYSE:THC) last released 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. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, research analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current 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.