Itau Unibanco Holding S.A. Invests $996,000 in Tenet Healthcare Co. (NYSE:THC)

Itau Unibanco Holding S.A. purchased a new position in Tenet Healthcare Co. (NYSE:THC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,941 shares of the company's stock, valued at approximately $996,000.

A number of other institutional investors also recently made changes to their positions in the business. Franklin Resources Inc. grew its holdings in shares of Tenet Healthcare by 11.9% during the third quarter. Franklin Resources Inc. now owns 457,704 shares of the company's stock valued at $71,077,000 after purchasing an additional 48,580 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Tenet Healthcare by 46.6% in the 3rd quarter. Retirement Systems of Alabama now owns 176,757 shares of the company's stock worth $29,377,000 after buying an additional 56,193 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Tenet Healthcare by 101.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company's stock worth $1,281,000 after purchasing an additional 3,973 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Tenet Healthcare by 13.5% in the fourth quarter. Nordea Investment Management AB now owns 83,793 shares of the company's stock worth $10,577,000 after purchasing an additional 9,946 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter worth about $1,758,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the sale, the director now owns 27,378 shares of the company's stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Tenet Healthcare Trading Down 0.1 %

Shares of THC traded down $0.11 during trading hours on Wednesday, reaching $151.37. The stock had a trading volume of 346,950 shares, compared to its average volume of 1,541,250. The firm has a 50-day moving average of $127.86 and a 200 day moving average of $136.11. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The company has a market cap of $14.06 billion, a P/E ratio of 4.70, a P/E/G ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same period in the prior year, the business earned $3.22 EPS. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on THC. Guggenheim began coverage on Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price objective for the company. TD Cowen began coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They set a "buy" rating and a $175.00 price objective for the company. Cantor Fitzgerald restated an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Barclays lifted their price target on Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $173.69.

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.