Raymond James & Associates Has $3.74 Million Holdings in Tenet Healthcare Co. (NYSE:THC)

Raymond James & Associates trimmed its position in Tenet Healthcare Co. (NYSE:THC – Get Rating) by 26.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,599 shares of the company’s stock after selling 27,274 shares during the quarter. Raymond James & Associates owned 0.07% of Tenet Healthcare worth $3,737,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. FORA Capital LLC acquired a new position in shares of Tenet Healthcare during the fourth quarter worth $295,000. Thrivent Financial for Lutherans lifted its holdings in Tenet Healthcare by 0.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 28,800 shares of the company’s stock valued at $1,405,000 after buying an additional 245 shares during the period. Sivik Global Healthcare LLC lifted its holdings in Tenet Healthcare by 37.5% in the fourth quarter. Sivik Global Healthcare LLC now owns 165,000 shares of the company’s stock valued at $8,050,000 after buying an additional 45,000 shares during the period. Nordea Investment Management AB lifted its holdings in Tenet Healthcare by 78.5% in the fourth quarter. Nordea Investment Management AB now owns 19,401 shares of the company’s stock valued at $929,000 after buying an additional 8,530 shares during the period. Finally, Swiss National Bank increased its stake in Tenet Healthcare by 2.0% in the fourth quarter. Swiss National Bank now owns 247,500 shares of the company’s stock valued at $12,076,000 after purchasing an additional 4,800 shares in the last quarter. 98.14% of the stock is owned by institutional investors.

Tenet Healthcare Stock Up 0.6 %

THC opened at $69.29 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.39 and a debt-to-equity ratio of 5.79. The firm has a 50 day moving average price of $65.30 and a 200-day moving average price of $55.80. Tenet Healthcare Co. has a twelve month low of $36.69 and a twelve month high of $74.10. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 4.53 and a beta of 2.18.

Tenet Healthcare (NYSE:THC – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.26. Tenet Healthcare had a net margin of 2.13% and a return on equity of 28.65%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that Tenet Healthcare Co. will post 5.72 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Tammy Romo sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $60.95, for a total transaction of $426,650.00. Following the completion of the sale, the director now directly owns 57,598 shares of the company’s stock, valued at $3,510,598.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 21,178 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $73.12, for a total value of $1,548,535.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tammy Romo sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $60.95, for a total transaction of $426,650.00. Following the completion of the transaction, the director now owns 57,598 shares of the company’s stock, valued at $3,510,598.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,003 shares of company stock valued at $2,025,510. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tenet Healthcare from $65.00 to $81.00 in a research note on Wednesday, April 26th. Barclays raised their price target on shares of Tenet Healthcare from $70.00 to $105.00 in a report on Wednesday, April 26th. Cantor Fitzgerald initiated coverage on shares of Tenet Healthcare in a report on Thursday, April 20th. They issued an “overweight” rating and a $73.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Tenet Healthcare from $59.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, February 17th. Finally, Mizuho raised their price objective on shares of Tenet Healthcare from $78.00 to $81.00 in a research report on Tuesday, May 16th. One research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $75.76.

Tenet Healthcare Company Profile

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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.