DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Increases Holdings in Tenet Healthcare Co. (NYSE:THC)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 408.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,235 shares of the company's stock after purchasing an additional 19,471 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Tenet Healthcare were worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in THC. Colonial Trust Co SC lifted its stake in Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after purchasing an additional 114 shares in the last quarter. GeoWealth Management LLC raised its stake in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares in the last quarter. WR Wealth Planners LLC raised its stake in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after acquiring an additional 312 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after acquiring an additional 110 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at $60,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on THC. Morgan Stanley increased their target price on Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. UBS Group increased their target price on Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Royal Bank of Canada raised their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Bank of America raised their price objective on Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.94.

Tenet Healthcare Price Performance

Shares of THC stock traded up $1.62 during midday trading on Wednesday, reaching $159.32. 1,920,598 shares of the company traded hands, compared to its average volume of 1,545,304. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The firm's 50 day simple moving average is $130.60 and its two-hundred day simple moving average is $136.09. Tenet Healthcare Co. has a 1-year low of $109.82 and a 1-year high of $171.20. The firm has a market cap of $14.80 billion, a PE ratio of 4.94, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63.

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

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.81% of the stock is currently owned by insiders.

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.