NorthCrest Asset Manangement LLC Makes New Investment in Tenet Healthcare Corporation $THC

NorthCrest Asset Manangement LLC bought a new stake in Tenet Healthcare Corporation (NYSE:THC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,235 shares of the company’s stock, valued at approximately $663,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Tenet Healthcare in the 2nd quarter valued at approximately $206,981,000. Boston Partners lifted its holdings in 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 during the period. Alliancebernstein L.P. grew its stake in shares of Tenet Healthcare by 375.7% during the 2nd quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock worth $139,085,000 after purchasing an additional 624,125 shares during the period. Holocene Advisors LP acquired a new stake in shares of Tenet Healthcare in the second quarter valued at about $102,855,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Tenet Healthcare by 331.1% during the third quarter. Assenagon Asset Management S.A. now owns 363,754 shares of the company’s stock worth $73,857,000 after buying an additional 279,377 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

THC has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on Tenet Healthcare in a research note on Tuesday, October 14th. They set a “buy” rating and a $224.00 price target on the stock. Raymond James Financial set a $245.00 price target on Tenet Healthcare in a research report on Wednesday, October 29th. Royal Bank Of Canada increased their price objective 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 reduced their price target on shares of Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Finally, Mizuho lifted their price objective on Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $233.81.

Insider Activity at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 13,322 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $205.11, for a total transaction of $2,732,475.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tammy Romo sold 15,099 shares of Tenet Healthcare stock in a transaction 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 transaction, the director owned 47,267 shares in the company, valued at $9,491,686.27. The trade was a 24.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 45,500 shares of company stock valued at $9,247,071. Insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Down 1.1%

THC stock opened at $191.17 on Thursday. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $222.82. The stock has a market capitalization of $16.80 billion, a P/E ratio of 13.10, a PEG ratio of 0.82 and a beta of 1.41. The company has a 50 day moving average price of $201.31 and a two-hundred day moving average price of $191.26. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.64 and a current ratio of 1.71.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data 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. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the firm earned $2.93 earnings per share. The business’s revenue 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, sell-side analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.