Cambridge Investment Research Advisors Inc. Invests $212,000 in Tenet Healthcare Corporation (NYSE:THC)

Cambridge Investment Research Advisors Inc. acquired a new position in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,575 shares of the company's stock, valued at approximately $212,000.

Several other institutional investors also recently modified their holdings of THC. Colonial Trust Co SC boosted its position in shares of Tenet Healthcare by 85.7% during the 4th 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 increased its stake in Tenet Healthcare by 39.8% in the 4th 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 last quarter. Versant Capital Management Inc increased its stake in shares of Tenet Healthcare by 46.2% during the 1st quarter. Versant Capital Management Inc now owns 718 shares of the company's stock worth $97,000 after purchasing an additional 227 shares during the last quarter. Signaturefd LLC increased its stake in shares of Tenet Healthcare by 24.8% during the 4th quarter. Signaturefd LLC now owns 784 shares of the company's stock worth $99,000 after purchasing an additional 156 shares during the last quarter. Finally, Quarry LP increased its stake in shares of Tenet Healthcare by 49.9% during the 4th quarter. Quarry LP now owns 790 shares of the company's stock worth $100,000 after purchasing an additional 263 shares during the last quarter. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Up 1.2%

Shares of Tenet Healthcare stock opened at $175.77 on Monday. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.23. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $178.76. The firm has a market capitalization of $16.33 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.28 and a beta of 1.64. The firm's 50 day simple moving average is $165.94 and its two-hundred day simple moving average is $142.64.

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

Insider Activity

In related news, EVP Paola M. Arbour sold 7,738 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the completion of the sale, the executive vice president directly owned 20,110 shares in the company, valued at approximately $3,479,030. This trade represents a 27.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James L. Bierman sold 4,613 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $170.00, for a total transaction of $784,210.00. Following the completion of the transaction, the director directly owned 35,271 shares of the company's stock, valued at approximately $5,996,070. The trade was a 11.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock valued at $8,846,305 in the last quarter. Insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on THC. Guggenheim began coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price objective for the company. The Goldman Sachs Group boosted their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. UBS Group boosted their price target on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Morgan Stanley upped their target price on shares of Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Finally, Bank of America upped their target price on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $184.53.

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.

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