Zions Bancorporation National Association UT Acquires 693 Shares of Tenet Healthcare Corporation $THC

Zions Bancorporation National Association UT lifted its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 93.5% during the second quarter, Holdings Channel.com reports. The firm owned 1,434 shares of the company’s stock after acquiring an additional 693 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Tenet Healthcare were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. US Bancorp DE raised its position in shares of Tenet Healthcare by 0.8% during the first quarter. US Bancorp DE now owns 8,620 shares of the company’s stock worth $1,159,000 after acquiring an additional 68 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Tenet Healthcare by 2.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,615 shares of the company’s stock worth $460,000 after purchasing an additional 70 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Tenet Healthcare by 5.3% in the 1st quarter. Lindbrook Capital LLC now owns 1,427 shares of the company’s stock valued at $192,000 after purchasing an additional 72 shares during the last quarter. Signaturefd LLC raised its stake in Tenet Healthcare by 11.2% during the second quarter. Signaturefd LLC now owns 732 shares of the company’s stock worth $129,000 after buying an additional 74 shares during the last quarter. Finally, Vista Investment Partners LLC boosted its position in Tenet Healthcare by 0.3% during the second quarter. Vista Investment Partners LLC now owns 25,257 shares of the company’s stock valued at $4,445,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

THC has been the topic of several research analyst reports. Wolfe Research lowered Tenet Healthcare from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 28th. Zacks Research lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. UBS Group lifted their price objective on shares of Tenet Healthcare from $238.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Robert W. Baird reduced their price target on shares of Tenet Healthcare from $195.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Tenet Healthcare from a “hold” rating to a “strong-buy” rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.25.

Tenet Healthcare Trading Down 5.2%

Shares of Tenet Healthcare stock opened at $194.57 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.27. The company has a market capitalization of $17.10 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 0.89 and a beta of 1.53. The stock has a fifty day simple moving average of $198.36 and a 200 day simple moving average of $177.03. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $217.43.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period last year, the firm earned $2.93 earnings per share. The firm’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. On average, sell-side analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In related news, CEO Saumya Sutaria sold 78,762 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tammy Romo sold 645 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $205.20, for a total value of $132,354.00. Following the completion of the transaction, the director directly owned 34,866 shares of the company’s stock, valued at $7,154,503.20. The trade was a 1.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 134,044 shares of company stock worth $25,977,997 in the last ninety days. Insiders own 0.81% of the company’s stock.

Tenet Healthcare Company 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.