Tenet Healthcare Corporation $THC Holdings Lifted by Leuthold Group LLC

Leuthold Group LLC lifted its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 8.6% in the third quarter, Holdings Channel reports. The institutional investor owned 34,405 shares of the company’s stock after acquiring an additional 2,730 shares during the period. Leuthold Group LLC’s holdings in Tenet Healthcare were worth $8,793,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Manning & Napier Advisors LLC acquired a new stake in Tenet Healthcare in the 2nd quarter worth about $168,761,000. Arrowstreet Capital Limited Partnership grew its position in shares of Tenet Healthcare by 57.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company’s stock worth $126,757,000 after purchasing an additional 244,901 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Tenet Healthcare during the second quarter worth approximately $106,342,000. Empowered Funds LLC increased its holdings in shares of Tenet Healthcare by 22.1% during the first quarter. Empowered Funds LLC now owns 284,753 shares of the company’s stock worth $53,736,000 after purchasing an additional 51,549 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Tenet Healthcare by 11.8% in the first quarter. First Trust Advisors LP now owns 240,019 shares of the company’s stock valued at $45,294,000 after buying an additional 25,263 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Activity

In other news, Director Richard J. Mark sold 10,000 shares of Tenet Healthcare stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $263.42, for a total value of $2,634,200.00. Following the transaction, the director owned 25,121 shares in the company, valued at approximately $6,617,373.82. This trade represents a 28.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nadja West sold 1,152 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $258.80, for a total value of $298,137.60. Following the transaction, the director directly owned 23,653 shares of the company’s stock, valued at $6,121,396.40. This trade represents a 4.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 98,462 shares of company stock valued at $26,788,234. Corporate insiders own 0.97% of the company’s stock.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $288.90 on Tuesday. The firm has a 50 day moving average of $265.77 and a 200-day moving average of $222.88. The stock has a market capitalization of $22.99 billion, a PE ratio of 8.38, a PEG ratio of 1.56 and a beta of 1.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 1.76. Tenet Healthcare Corporation has a 12 month low of $157.58 and a 12 month high of $301.44.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Thursday, October 29th. The company reported $6.64 earnings per share for the quarter, topping analysts’ consensus estimates of $4.68 by $1.96. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $5.49 billion. Tenet Healthcare had a net margin of 13.09% and a return on equity of 28.22%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.70 EPS. On average, equities research analysts predict that Tenet Healthcare Corporation will post 22.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

THC has been the subject of several recent research reports. Zacks Research cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Guggenheim lowered their price objective on Tenet Healthcare from $307.00 to $306.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tenet Healthcare in a report on Friday, October 2nd. Truist Financial reiterated a “buy” rating and set a $305.00 target price (up from $290.00) on shares of Tenet Healthcare in a research report on Tuesday, November 3rd. Finally, Leerink Partners increased their target price on Tenet Healthcare from $309.00 to $342.00 and gave the stock an “outperform” rating in a report on Monday, November 2nd. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $293.48.

Tenet Healthcare Profile

Tenet Healthcare Corporation is a U.S.-based healthcare services company that operates acute care hospitals and provides related inpatient and outpatient services. Its hospitals offer services across areas such as emergency care, surgery, imaging and specialty treatment.

Through its subsidiary United Surgical Partners International (USPI), Tenet also operates ambulatory surgery centers and surgical hospitals, providing outpatient surgical and procedural care. The company’s Conifer Health Solutions business provides revenue cycle management and other administrative services to healthcare providers.

Tenet traces its history to National Medical Enterprises, founded in 1969, and adopted the Tenet Healthcare name in 1995.