Summit Investment Advisors Inc. Sells 1,667 Shares of Tenet Healthcare Corporation $THC

Summit Investment Advisors Inc. trimmed its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,781 shares of the company’s stock after selling 1,667 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Tenet Healthcare were worth $4,275,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Tenet Healthcare by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,596,544 shares of the company’s stock valued at $1,021,736,000 after buying an additional 463,552 shares during the period. Ameriprise Financial Inc. increased its position in shares of Tenet Healthcare by 348.4% during the first quarter. Ameriprise Financial Inc. now owns 1,962,314 shares of the company’s stock worth $263,905,000 after buying an additional 1,524,642 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Tenet Healthcare by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,675,199 shares of the company’s stock valued at $225,297,000 after buying an additional 181,667 shares during the period. Nuveen LLC bought a new stake in Tenet Healthcare during the first quarter valued at $218,549,000. Finally, Boston Partners raised its position in shares of Tenet Healthcare by 692.9% in the 1st quarter. Boston Partners now owns 1,162,642 shares of the company’s stock worth $156,318,000 after acquiring an additional 1,016,010 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Lisa Y. Foo sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $179.53, for a total value of $1,436,240.00. Following the transaction, the executive vice president owned 20,878 shares in the company, valued at approximately $3,748,227.34. This represents a 27.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the director directly owned 34,866 shares of the company’s stock, valued at $7,154,503.20. This represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 134,044 shares of company stock worth $25,977,997 in the last three months. Insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on THC shares. Truist Financial reiterated a “buy” rating and set a $240.00 target price (up previously from $225.00) on shares of Tenet Healthcare in a research report on Monday, November 3rd. Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Raymond James Financial set a $245.00 price objective on Tenet Healthcare in a report on Wednesday, October 29th. Cantor Fitzgerald lifted their price target on shares of Tenet Healthcare from $190.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Barclays upped their price objective on shares of Tenet Healthcare from $208.00 to $229.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.25.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $204.99 on Friday. The firm has a market capitalization of $18.02 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.53. 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 business’s fifty day simple moving average is $198.15 and its 200 day simple moving average is $175.72. 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 earnings results on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.37. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. Tenet Healthcare had a return on equity of 25.11% and a net margin of 6.49%.The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.93 EPS. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. As a group, analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Tenet Healthcare 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.