Allianz Asset Management GmbH Has $69.60 Million Stock Position in Tenet Healthcare Corporation (NYSE:THC)

Allianz Asset Management GmbH lessened its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 517,463 shares of the company's stock after selling 59,680 shares during the period. Allianz Asset Management GmbH owned about 0.56% of Tenet Healthcare worth $69,599,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Tenet Healthcare in the first quarter valued at about $26,000. Wayfinding Financial LLC bought a new stake in shares of Tenet Healthcare in the first quarter valued at about $28,000. Colonial Trust Co SC lifted its stake in shares of 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 buying an additional 114 shares during the period. GeoWealth Management LLC lifted 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 buying an additional 84 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of 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 buying an additional 227 shares during the period. Institutional investors own 95.44% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on THC shares. UBS Group increased their price target on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday. Bank of America raised their price objective on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Guggenheim raised their price objective on shares of Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a report on Wednesday. Mizuho raised their price objective on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Finally, Robert W. Baird lowered their price target on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $188.88.

Tenet Healthcare Stock Up 1.8%

THC stock traded up $2.72 during midday trading on Friday, hitting $151.10. The company's stock had a trading volume of 554,561 shares, compared to its average volume of 1,594,857. The stock has a market capitalization of $14.04 billion, a P/E ratio of 9.67, a PEG ratio of 0.81 and a beta of 1.64. The company's fifty day moving average price is $168.42 and its 200 day moving average price is $145.02. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $185.25. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, topping the consensus estimate of $2.84 by $1.18. The company had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. Tenet Healthcare's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.31 EPS. As a group, equities research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 836 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.16, for a total value of $144,761.76. Following the completion of the sale, the director owned 11,292 shares of the company's stock, valued at $1,955,322.72. The trade was a 6.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J Robert Kerrey sold 1,222 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total transaction of $201,581.12. Following the completion of the sale, the director directly owned 22,377 shares of the company's stock, valued at $3,691,309.92. This represents a 5.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,121 shares of company stock worth $8,846,305 in the last ninety days. Insiders own 0.81% of the company's stock.

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.