Wealth Enhancement Advisory Services LLC Buys 9,766 Shares of Tenet Healthcare Corporation $THC

Wealth Enhancement Advisory Services LLC lifted its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 56.6% in the third quarter, HoldingsChannel reports. The fund owned 27,032 shares of the company’s stock after buying an additional 9,766 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Tenet Healthcare were worth $5,537,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. 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 buying an additional 1,104,500 shares during the period. Ameriprise Financial Inc. raised its position in shares of Tenet Healthcare by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock valued at $373,020,000 after acquiring an additional 157,109 shares during the last quarter. Norges Bank bought a new position in shares of Tenet Healthcare in the 2nd quarter worth $206,981,000. AQR Capital Management LLC grew its stake in shares of Tenet Healthcare by 28.0% during the second quarter. AQR Capital Management LLC now owns 1,156,263 shares of the company’s stock worth $200,224,000 after purchasing an additional 252,993 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Tenet Healthcare by 375.7% in the second quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock valued at $139,085,000 after purchasing an additional 624,125 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In other news, insider R. Scott Ramsey sold 13,322 shares of the firm’s stock in a transaction dated 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 at this hyperlink. Also, Director Tammy Romo sold 645 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $205.20, for a total value of $132,354.00. Following the sale, the director owned 34,866 shares in the company, valued at $7,154,503.20. The trade was a 1.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 45,500 shares of company stock worth $9,247,071. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on THC. Guggenheim boosted their target price on Tenet Healthcare from $238.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Royal Bank Of Canada boosted their price objective on shares of Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. TD Cowen reiterated a “buy” rating on shares of Tenet Healthcare in a report on Wednesday, January 7th. Truist Financial reissued a “buy” rating and issued a $240.00 price target (up previously from $225.00) on shares of Tenet Healthcare in a report on Monday, November 3rd. Finally, Cantor Fitzgerald raised their price objective on Tenet Healthcare from $190.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.81.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $188.70 on Monday. The company has a fifty day moving average price of $201.09 and a 200 day moving average price of $191.63. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $222.82. The firm has a market cap of $16.58 billion, a PE ratio of 12.93, a PEG ratio of 0.80 and a beta of 1.41. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 2.27.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.37. The company 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%.Tenet Healthcare’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.93 earnings per share. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Research analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Tenet Healthcare 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.