Voya Investment Management LLC Has $21.58 Million Stake in Tenet Healthcare Corporation $THC

Voya Investment Management LLC cut its stake in shares of Tenet Healthcare Corporation (NYSE:THC) by 17.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,266 shares of the company’s stock after selling 22,009 shares during the quarter. Voya Investment Management LLC owned approximately 0.12% of Tenet Healthcare worth $21,576,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in THC. SVB Wealth LLC acquired a new stake in Tenet Healthcare in the 1st quarter valued at $30,000. Brooklyn Investment Group grew its holdings in shares of Tenet Healthcare by 908.7% during the first quarter. Brooklyn Investment Group now owns 232 shares of the company’s stock valued at $31,000 after buying an additional 209 shares during the last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of Tenet Healthcare in the 2nd quarter worth about $35,000. Canada Pension Plan Investment Board acquired a new position in Tenet Healthcare during the 2nd quarter valued at about $35,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Tenet Healthcare by 2,227.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 256 shares of the company’s stock worth $45,000 after purchasing an additional 245 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total value of $521,075.00. Following the completion of the sale, the director directly owned 8,792 shares in the company, valued at approximately $1,832,516.56. The trade was a 22.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tammy Romo sold 645 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $205.20, for a total transaction of $132,354.00. Following the sale, the director owned 34,866 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders have sold 45,500 shares of company stock worth $9,247,071. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Trading Up 1.0%

Shares of THC opened at $196.36 on Monday. The business’s 50-day moving average price is $203.01 and its 200-day moving average price is $186.46. The stock has a market cap of $17.26 billion, a PE ratio of 13.46, a P/E/G ratio of 0.86 and a beta of 1.44. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $222.82. The company has a quick ratio of 1.64, a current ratio of 1.71 and a debt-to-equity ratio of 2.27.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, October 28th. The company reported $3.70 EPS 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 firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the business earned $2.93 EPS. The business’s revenue for the quarter 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, equities analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial restated a “buy” rating and set a $240.00 price objective (up from $225.00) on shares of Tenet Healthcare in a research note on Monday, November 3rd. Raymond James Financial set a $245.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, October 29th. The Goldman Sachs Group initiated coverage on Tenet Healthcare in a report on Tuesday, October 14th. They issued a “buy” rating and a $224.00 target price for the company. Wells Fargo & Company raised their target price on Tenet Healthcare from $238.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Finally, KeyCorp increased their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $231.81.

Tenet Healthcare Company 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.