AE Wealth Management LLC Grows Stock Holdings in Tenet Healthcare Corporation (NYSE:THC)

AE Wealth Management LLC boosted its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 92.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,564 shares of the company's stock after purchasing an additional 2,669 shares during the period. AE Wealth Management LLC's holdings in Tenet Healthcare were worth $748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Tenet Healthcare during the first quarter worth $26,000. Wayfinding Financial LLC acquired a new stake in Tenet Healthcare in the first quarter valued at $28,000. Colonial Trust Co SC increased its holdings in Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares during the period. GeoWealth Management LLC increased its holdings in 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 purchasing an additional 84 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Tenet Healthcare by 46.2% in the first quarter. Versant Capital Management Inc now owns 718 shares of the company's stock valued at $97,000 after purchasing an additional 227 shares during the period. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Down 1.3%

NYSE THC traded down $2.10 during trading hours on Friday, hitting $159.18. The company's stock had a trading volume of 316,356 shares, compared to its average volume of 1,599,713. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $185.25. The company has a market capitalization of $14.79 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 0.69 and a beta of 1.64. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The company's 50-day simple moving average is $167.68 and its two-hundred day simple moving average is $146.00.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, topping the consensus estimate of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter last year, the firm earned $2.31 EPS. The company's quarterly revenue was up 3.2% compared to the same quarter last year. Research analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Activity

In other news, Director Richard W. Fisher sold 3,077 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $165.72, for a total transaction of $509,920.44. Following the completion of the sale, the director owned 12,128 shares in the company, valued at $2,009,852.16. This trade represents a 20.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James L. Bierman sold 13,836 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $159.58, for a total transaction of $2,207,948.88. Following the sale, the director owned 41,435 shares of the company's stock, valued at approximately $6,612,197.30. The trade was a 25.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,121 shares of company stock worth $8,846,305. Corporate insiders own 0.81% of the company's stock.

Analysts Set New Price Targets

THC has been the subject of a number of recent research reports. Barclays decreased their price objective on Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. UBS Group increased their price target on Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Guggenheim increased their price target on Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Mizuho increased their price target on Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $190.00.

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.