Steward Partners Investment Advisory LLC Has $168,000 Stake in Tenet Healthcare Co. (NYSE:THC)

Steward Partners Investment Advisory LLC boosted its position in shares of Tenet Healthcare Co. (NYSE:THCGet Rating) by 30.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,950 shares of the company’s stock after buying an additional 450 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Tenet Healthcare were worth $168,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in shares of Tenet Healthcare by 33.5% in the fourth quarter. Fifth Third Bancorp now owns 629 shares of the company’s stock worth $51,000 after acquiring an additional 158 shares during the last quarter. Covestor Ltd bought a new position in shares of Tenet Healthcare in the fourth quarter worth about $64,000. UMB Bank N A MO bought a new position in shares of Tenet Healthcare in the fourth quarter worth about $86,000. Exchange Traded Concepts LLC bought a new position in shares of Tenet Healthcare in the first quarter worth about $100,000. Finally, Islay Capital Management LLC bought a new position in Tenet Healthcare in the 1st quarter valued at approximately $122,000. 95.41% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

NYSE THC opened at $66.12 on Monday. The company has a fifty day simple moving average of $59.12 and a 200 day simple moving average of $73.10. Tenet Healthcare Co. has a 12-month low of $50.37 and a 12-month high of $92.65. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 7.07. The company has a market cap of $7.12 billion, a P/E ratio of 8.21, a PEG ratio of 1.68 and a beta of 2.40.

Tenet Healthcare (NYSE:THCGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.10. Tenet Healthcare had a net margin of 4.58% and a return on equity of 45.10%. During the same period in the prior year, the company posted $1.59 earnings per share. Sell-side analysts predict that Tenet Healthcare Co. will post 6.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 7,439 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $62.92, for a total transaction of $468,061.88. Following the transaction, the director now directly owns 34,362 shares in the company, valued at approximately $2,162,057.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

THC has been the subject of a number of research reports. UBS Group dropped their price objective on shares of Tenet Healthcare from $113.00 to $91.00 and set a “buy” rating for the company in a report on Thursday. Credit Suisse Group set a $104.00 price objective on shares of Tenet Healthcare in a report on Tuesday, July 19th. Citigroup reiterated a “maintains” rating on shares of Tenet Healthcare in a report on Tuesday, July 26th. Raymond James restated a “maintains” rating on shares of Tenet Healthcare in a report on Tuesday, July 26th. Finally, Royal Bank of Canada lowered their price target on shares of Tenet Healthcare from $104.00 to $99.00 and set a “maintains” rating for the company in a report on Monday, July 25th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and an average price target of $91.00.

Tenet Healthcare Company Profile

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

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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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