Caisse DE Depot ET Placement DU Quebec Invests $10.78 Million in Tenet Healthcare Co. (NYSE:THC)

Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 85,400 shares of the company's stock, valued at approximately $10,780,000. Caisse DE Depot ET Placement DU Quebec owned about 0.09% of Tenet Healthcare at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after purchasing an additional 80 shares during the last quarter. GeoWealth Management LLC boosted its stake in shares of Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after purchasing an additional 84 shares during the period. Spire Wealth Management lifted its holdings in Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after buying an additional 91 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Tenet Healthcare by 1.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after acquiring an additional 92 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Tenet Healthcare by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock valued at $1,024,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction dated 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 completion of the sale, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. This represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by company insiders.

Tenet Healthcare Trading Up 0.4 %

Shares of NYSE:THC traded up $0.68 during mid-day trading on Wednesday, reaching $152.16. 1,244,286 shares of the company were exchanged, compared to its average volume of 1,551,921. Tenet Healthcare Co. has a 1 year low of $109.82 and a 1 year high of $171.20. The firm's 50-day simple moving average is $127.86 and its 200 day simple moving average is $136.11. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 4.72, a P/E/G ratio of 1.02 and a beta of 1.63. 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 (NYSE:THC - Get Free Report) last posted its quarterly earnings data 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. The business 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%. The company's revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.22 earnings per share. Equities research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on THC. 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. Robert W. Baird reissued a "neutral" rating and set a $137.00 price target (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. TD Cowen began coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target on the stock. Royal Bank of Canada boosted their price target on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.