Algert Global LLC Buys 8,862 Shares of Tenet Healthcare Co. (NYSE:THC)

Algert Global LLC lifted its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,131 shares of the company's stock after buying an additional 8,862 shares during the period. Algert Global LLC owned about 0.07% of Tenet Healthcare worth $8,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aristeia Capital L.L.C. bought a new position in shares of Tenet Healthcare during the 4th quarter worth about $857,000. AXA S.A. boosted its holdings in Tenet Healthcare by 42.0% during the fourth quarter. AXA S.A. now owns 94,700 shares of the company's stock valued at $11,954,000 after purchasing an additional 27,998 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Tenet Healthcare in the 4th quarter valued at approximately $996,000. Whitebox Advisors LLC raised its holdings in shares of Tenet Healthcare by 21.0% in the 4th quarter. Whitebox Advisors LLC now owns 25,902 shares of the company's stock worth $3,270,000 after buying an additional 4,500 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Tenet Healthcare in the 4th quarter valued at $10,780,000. 95.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the sale, the director now owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

THC has been the subject of a number of analyst reports. Robert W. Baird reissued a "neutral" rating and set a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. UBS Group lifted their price target on Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. The Goldman Sachs Group increased their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a report on Monday. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Morgan Stanley boosted their price objective on shares of Tenet Healthcare from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average target price of $173.69.

Tenet Healthcare Trading Up 0.4 %

THC traded up $0.68 during mid-day trading on Wednesday, hitting $152.16. The stock had a trading volume of 1,244,286 shares, compared to its average volume of 1,551,921. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a 1-year low of $109.82 and a 1-year high of $171.20. The stock's fifty day simple moving average is $128.37 and its 200-day simple moving average is $136.22. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 4.72, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Tenet Healthcare's revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.22 earnings per share. As a group, research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Tenet Healthcare Company 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.