Tenet Healthcare Co. (NYSE:THC) Shares Sold by State of Alaska Department of Revenue

Posted by Defense World Staff on Oct 17th, 2023

State of Alaska Department of Revenue cut its stake in shares of Tenet Healthcare Co. (NYSE:THC – Free Report) by 15.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,634 shares of the company’s stock after selling 2,265 shares during the period. State of Alaska Department of Revenue’s holdings in Tenet Healthcare were worth $1,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of THC. Fifth Third Bancorp raised its position in shares of Tenet Healthcare by 33.9% in the 1st quarter. Fifth Third Bancorp now owns 624 shares of the company’s stock valued at $37,000 after purchasing an additional 158 shares in the last quarter. US Bancorp DE raised its position in shares of Tenet Healthcare by 14.6% in the 1st quarter. US Bancorp DE now owns 1,428 shares of the company’s stock valued at $123,000 after purchasing an additional 182 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Tenet Healthcare by 46.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock valued at $31,000 after purchasing an additional 199 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Tenet Healthcare by 4.3% during the 4th quarter. Cetera Investment Advisers now owns 6,111 shares of the company’s stock valued at $298,000 after acquiring an additional 253 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of Tenet Healthcare by 434.4% during the 2nd quarter. Global Retirement Partners LLC now owns 326 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares in the last quarter. 93.56% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Price Performance

Shares of NYSE:THC opened at $54.13 on Tuesday. Tenet Healthcare Co. has a 1-year low of $36.69 and a 1-year high of $85.40. The firm has a market capitalization of $5.50 billion, a PE ratio of 11.90, a PEG ratio of 1.64 and a beta of 2.15. The business’s 50 day moving average is $70.09 and its 200-day moving average is $71.91. The company has a current ratio of 1.44, a quick ratio of 1.35 and a debt-to-equity ratio of 5.47.

Tenet Healthcare (NYSE:THC – Get Free Report) last posted its earnings results on Monday, July 31st. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.26 by $0.18. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.91 billion. Tenet Healthcare had a return on equity of 26.60% and a net margin of 2.51%. Tenet Healthcare’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $1.50 EPS. Sell-side analysts predict that Tenet Healthcare Co. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on THC shares. Mizuho upped their price target on Tenet Healthcare from $81.00 to $94.00 in a research report on Tuesday, July 11th. The Goldman Sachs Group increased their target price on Tenet Healthcare from $89.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Cantor Fitzgerald increased their target price on Tenet Healthcare from $76.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, September 14th. Credit Suisse Group increased their target price on Tenet Healthcare from $92.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Royal Bank of Canada increased their price target on Tenet Healthcare from $84.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Buy” and an average target price of $84.18.

Read Our Latest Stock Report on THC

Tenet Healthcare Profile

(Free Report)

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Tenet Healthcare Co. (NYSE:THC) Shares Sold by State of Alaska Department of Revenue

Tenet Healthcare Price Performance

Analysts Set New Price Targets

Tenet Healthcare Profile

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