Belpointe Asset Management LLC Boosts Holdings in Tenet Healthcare Corporation $THC

Belpointe Asset Management LLC grew its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 54.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,062 shares of the company’s stock after acquiring an additional 1,075 shares during the quarter. Belpointe Asset Management LLC’s holdings in Tenet Healthcare were worth $539,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in THC. Merit Financial Group LLC purchased a new position in shares of Tenet Healthcare during the first quarter worth approximately $310,000. UMB Bank n.a. raised its stake in shares of Tenet Healthcare by 95.9% during the first quarter. UMB Bank n.a. now owns 819 shares of the company’s stock worth $110,000 after acquiring an additional 401 shares in the last quarter. Wedmont Private Capital purchased a new position in shares of Tenet Healthcare during the first quarter worth approximately $240,000. Farther Finance Advisors LLC raised its stake in shares of Tenet Healthcare by 606.9% during the first quarter. Farther Finance Advisors LLC now owns 2,545 shares of the company’s stock worth $340,000 after acquiring an additional 2,185 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Tenet Healthcare in the first quarter worth $307,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Saumya Sutaria sold 78,762 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the sale, the chief executive officer owned 368,683 shares in the company, valued at approximately $70,337,342.74. The trade was a 17.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lisa Y. Foo sold 8,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the sale, the executive vice president owned 20,878 shares in the company, valued at approximately $3,748,227.34. This trade represents a 27.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,722 shares of company stock worth $17,161,015. Corporate insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on THC shares. UBS Group lifted their target price on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Wolfe Research downgraded shares of Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 28th. Raymond James Financial reaffirmed an “outperform” rating and issued a $200.00 target price (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Robert W. Baird decreased their target price on shares of Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Finally, Mizuho lifted their target price on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $201.69.

Tenet Healthcare Stock Performance

NYSE:THC opened at $194.36 on Friday. The stock has a market cap of $17.17 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 0.86 and a beta of 1.52. The firm’s fifty day simple moving average is $185.13 and its 200 day simple moving average is $164.25. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $207.14. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, beating the consensus estimate of $2.84 by $1.18. The business had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.31 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS 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.