First Trust Advisors LP increased its position in Tenet Healthcare Co. (NYSE:THC – Get Rating) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,027 shares of the company’s stock after acquiring an additional 19,217 shares during the period. First Trust Advisors LP’s holdings in Tenet Healthcare were worth $18,590,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its stake in Tenet Healthcare by 1,063.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock valued at $36,000 after buying an additional 383 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Tenet Healthcare in the 1st quarter valued at approximately $36,000. Beacon Capital Management LLC purchased a new stake in Tenet Healthcare in the 4th quarter valued at approximately $27,000. Point72 Hong Kong Ltd purchased a new stake in Tenet Healthcare in the 1st quarter valued at approximately $78,000. Finally, Captrust Financial Advisors lifted its stake in Tenet Healthcare by 33.5% in the 1st quarter. Captrust Financial Advisors now owns 1,141 shares of the company’s stock valued at $98,000 after buying an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Barclays increased their price target on Tenet Healthcare from $70.00 to $105.00 in a research note on Wednesday, April 26th. UBS Group increased their price target on Tenet Healthcare from $47.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, February 14th. Raymond James increased their price target on Tenet Healthcare from $72.00 to $85.00 in a research note on Wednesday, April 26th. Truist Financial increased their price target on Tenet Healthcare from $74.00 to $84.00 in a research note on Wednesday, April 26th. Finally, Cantor Fitzgerald assumed coverage on Tenet Healthcare in a research note on Thursday, April 20th. They set an “overweight” rating and a $73.00 price target on the stock. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare currently has an average rating of “Buy” and an average target price of $75.76.
Insider Transactions at Tenet Healthcare
Tenet Healthcare Stock Down 0.4 %
Shares of NYSE THC opened at $72.88 on Monday. Tenet Healthcare Co. has a 12-month low of $36.69 and a 12-month high of $74.10. The company has a market cap of $7.43 billion, a P/E ratio of 19.43, a P/E/G ratio of 4.78 and a beta of 2.18. The company has a current ratio of 1.39, a quick ratio of 1.29 and a debt-to-equity ratio of 5.79. The stock has a fifty day moving average price of $64.03 and a 200 day moving average price of $55.19.
Tenet Healthcare (NYSE:THC – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.26. Tenet Healthcare had a return on equity of 28.65% and a net margin of 2.13%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the firm earned $1.93 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts anticipate that Tenet Healthcare Co. will post 5.69 EPS for the current fiscal year.
Tenet Healthcare Company Profile
Tenet Healthcare Corp. engages in the provision of healthcare services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment is composed of acute care hospitals, ancillary outpatient facilities, urgent care centers, micro hospitals and physician practices.
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