QRG Capital Management Inc. Decreases Stock Holdings in Tenet Healthcare Corporation $THC

QRG Capital Management Inc. cut its holdings in Tenet Healthcare Corporation (NYSE:THC) by 65.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,156 shares of the company’s stock after selling 13,722 shares during the quarter. QRG Capital Management Inc.’s holdings in Tenet Healthcare were worth $1,453,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. AlphaQuest LLC lifted its stake in shares of Tenet Healthcare by 230.8% during the 2nd quarter. AlphaQuest LLC now owns 1,763 shares of the company’s stock worth $310,000 after acquiring an additional 1,230 shares during the last quarter. 111 Capital bought a new stake in shares of Tenet Healthcare during the second quarter worth $244,000. Cerity Partners LLC boosted its stake in shares of Tenet Healthcare by 10.4% during the second quarter. Cerity Partners LLC now owns 120,623 shares of the company’s stock valued at $21,230,000 after purchasing an additional 11,395 shares during the period. Goldentree Asset Management LP purchased a new position in Tenet Healthcare in the 2nd quarter worth about $31,471,000. Finally, Leith Wheeler Investment Counsel Ltd. boosted its position in Tenet Healthcare by 22.2% in the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,813 shares of the company’s stock valued at $14,575,000 after buying an additional 15,019 shares during the period. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

THC opened at $193.27 on Wednesday. The firm has a market capitalization of $16.99 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.84 and a beta of 1.41. The business’s 50-day moving average is $201.49 and its two-hundred day moving average is $191.26. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $222.82. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64.

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 business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period last year, the business earned $2.93 EPS. The company’s 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. Research analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 completion of the sale, the director owned 28,480 shares of the company’s stock, valued at $5,623,945.60. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tammy Romo sold 645 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $205.20, for a total value of $132,354.00. Following the completion of the sale, the director owned 34,866 shares of the company’s stock, valued at approximately $7,154,503.20. This trade represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 45,500 shares of company stock worth $9,247,071. 0.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Tenet Healthcare from $229.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. KeyCorp raised their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Raymond James Financial set a $245.00 price target on Tenet Healthcare in a research report on Wednesday, October 29th. Royal Bank Of Canada lifted their price objective on Tenet Healthcare from $230.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, The Goldman Sachs Group began coverage on shares of Tenet Healthcare in a research report on Tuesday, October 14th. They set a “buy” rating and a $224.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.