Tenet Healthcare Co. (NYSE:THC) Stock Position Boosted by Comerica Bank

Comerica Bank raised its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,388 shares of the company's stock after buying an additional 1,780 shares during the quarter. Comerica Bank owned about 0.06% of Tenet Healthcare worth $7,118,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in THC. GeoWealth Management LLC raised its holdings in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after buying an additional 84 shares during the last quarter. WR Wealth Planners LLC raised its stake in Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after acquiring an additional 312 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after purchasing an additional 110 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at about $60,000. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of Tenet Healthcare by 1,352.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after purchasing an additional 487 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Price Performance

Shares of NYSE THC traded up $0.68 during midday trading on Wednesday, hitting $152.16. The company had a trading volume of 1,244,286 shares, compared to its average volume of 1,551,921. The business has a 50-day simple moving average of $127.86 and a two-hundred day simple moving average of $136.11. Tenet Healthcare Co. has a twelve month low of $109.82 and a twelve 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 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 earnings per share for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Tenet Healthcare's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.22 EPS. Equities research analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the business'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. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Robert W. Baird reaffirmed a "neutral" rating and issued a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Royal Bank of Canada increased their price target on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group upped their target price on Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research note on Monday. Baird R W downgraded Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Guggenheim began coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They set a "buy" rating and a $165.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $173.69.

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.