Ameriprise Financial Inc. Acquires 101,355 Shares of Tenet Healthcare Co. (NYSE:THC)

Ameriprise Financial Inc. raised its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 437,672 shares of the company's stock after buying an additional 101,355 shares during the quarter. Ameriprise Financial Inc. owned about 0.46% of Tenet Healthcare worth $55,244,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new stake in shares of Tenet Healthcare in the fourth quarter worth $343,000. Swedbank AB raised its position in Tenet Healthcare by 100.0% during the fourth quarter. Swedbank AB now owns 40,000 shares of the company's stock worth $5,049,000 after acquiring an additional 20,000 shares in the last quarter. Signet Financial Management LLC bought a new position in shares of Tenet Healthcare in the fourth quarter valued at about $1,526,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Tenet Healthcare in the fourth quarter valued at about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Tenet Healthcare in the fourth quarter valued at about $5,892,000. Institutional investors own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on THC. StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Bank of America increased their price objective on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday. Morgan Stanley increased their target price on shares of Tenet Healthcare from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, UBS Group increased their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $174.94.

Insiders Place Their Bets

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of Tenet Healthcare stock in a transaction on Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the transaction, the director now directly owns 22,377 shares of the company's stock, valued at $3,322,984.50. The trade was a 18.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.81% of the company's stock.

Tenet Healthcare Trading Up 0.2%

Tenet Healthcare stock traded up $0.29 during mid-day trading on Friday, hitting $164.32. 529,531 shares of the stock were exchanged, compared to its average volume of 1,536,899. The stock has a market capitalization of $15.26 billion, a price-to-earnings ratio of 5.10, a PEG ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 12 month low of $109.82 and a 12 month high of $171.20. 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 firm's fifty day simple moving average is $131.99 and its two-hundred day simple moving average is $136.42.

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

About Tenet Healthcare

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.