Brookstone Capital Management Makes New $1.92 Million Investment in Tenet Healthcare Corporation (NYSE:THC)

Brookstone Capital Management bought a new stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 14,282 shares of the company's stock, valued at approximately $1,921,000.

A number of other large investors have also recently bought and sold shares of THC. EverSource Wealth Advisors LLC boosted its holdings in shares of Tenet Healthcare by 9.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after purchasing an additional 80 shares during the last quarter. GeoWealth Management LLC boosted its holdings in shares of Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after purchasing an additional 84 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Tenet Healthcare by 1.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after purchasing an additional 92 shares during the last quarter. Prudential PLC boosted its holdings in Tenet Healthcare by 0.7% in the fourth quarter. Prudential PLC now owns 15,344 shares of the company's stock valued at $1,937,000 after acquiring an additional 107 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in 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 during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Analyst Upgrades and Downgrades

THC has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a report on Monday, May 5th. UBS Group lifted 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. Truist Financial raised their price objective on Tenet Healthcare from $175.00 to $190.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Stephens raised Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Sunday, June 15th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $183.94.

Tenet Healthcare Stock Up 0.9%

Tenet Healthcare stock traded up $1.48 during midday trading on Monday, hitting $172.98. The stock had a trading volume of 1,070,543 shares, compared to its average volume of 1,579,248. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.23. The stock has a market cap of $16.07 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.25 and a beta of 1.64. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $178.76. The business has a fifty day moving average price of $162.58 and a 200 day moving average price of $141.10.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, beating the consensus estimate of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. Tenet Healthcare's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.22 earnings per share. Research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 1,222 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $164.96, for a total value of $201,581.12. Following the completion of the sale, the director directly owned 22,377 shares in the company, valued at $3,691,309.92. This represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard W. Fisher sold 836 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was 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. This trade represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,121 shares of company stock valued at $8,846,305 over the last three months. 0.81% of the stock is owned by company insiders.

About Tenet Healthcare

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.