Nordea Investment Management AB Sells 2,648 Shares of Tenet Healthcare Corporation $THC

Nordea Investment Management AB decreased its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,999 shares of the company’s stock after selling 2,648 shares during the period. Nordea Investment Management AB’s holdings in Tenet Healthcare were worth $14,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in THC. NewEdge Advisors LLC lifted its holdings in shares of Tenet Healthcare by 6.1% in the first quarter. NewEdge Advisors LLC now owns 2,890 shares of the company’s stock valued at $389,000 after purchasing an additional 166 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Tenet Healthcare by 299.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,700 shares of the company’s stock worth $229,000 after acquiring an additional 1,274 shares during the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of Tenet Healthcare by 96.7% in the second quarter. Pallas Capital Advisors LLC now owns 4,494 shares of the company’s stock valued at $791,000 after purchasing an additional 2,209 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Tenet Healthcare during the second quarter worth $290,000. Finally, Swedbank AB acquired a new stake in Tenet Healthcare in the 2nd quarter valued at $11,462,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $201.49 on Friday. The company has a market capitalization of $17.71 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.83 and a beta of 1.41. The stock’s 50 day moving average is $201.72 and its 200-day moving average is $190.57. 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 Corporation has a 12 month low of $109.82 and a 12 month high of $222.82.

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. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the business earned $2.93 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. Equities research analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Nadja West sold 2,178 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $197.47, for a total value of $430,089.66. Following the transaction, the director owned 28,480 shares in the company, valued at approximately $5,623,945.60. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Scott Ramsey sold 13,322 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $205.11, for a total transaction of $2,732,475.42. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,500 shares of company stock valued at $9,247,071 in the last three months. Corporate insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on THC shares. KeyCorp raised their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on Tenet Healthcare from $252.00 to $229.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Royal Bank Of Canada upped their price target on shares of Tenet Healthcare from $230.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Cantor Fitzgerald upped their target price on shares of Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings raised Tenet Healthcare from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.81.

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.