Castellan Group raised its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 97.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,223 shares of the company's stock after acquiring an additional 38,635 shares during the quarter. Tenet Healthcare makes up 2.9% of Castellan Group's portfolio, making the stock its 11th biggest holding. Castellan Group owned approximately 0.08% of Tenet Healthcare worth $10,521,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Tenet Healthcare in the first quarter valued at $26,000. Wayfinding Financial LLC purchased a new stake in Tenet Healthcare in the 1st quarter valued at about $28,000. N.E.W. Advisory Services LLC acquired a new position in shares of Tenet Healthcare during the 1st quarter valued at about $31,000. Colonial Trust Co SC boosted its position 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 worth $31,000 after acquiring an additional 114 shares during the last quarter. Finally, GeoWealth Management LLC increased its position in 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. Institutional investors and hedge funds own 95.44% of the company's stock.
Insider Buying and Selling at Tenet Healthcare
In related news, EVP Thomas W. Arnst sold 9,786 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $166.00, for a total transaction of $1,624,476.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James L. Bierman sold 13,836 shares of the business's stock in a transaction dated 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 completion of the sale, the director owned 41,435 shares in the company, valued at approximately $6,612,197.30. This trade represents a 25.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,121 shares of company stock valued at $8,846,305. 0.81% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
THC has been the topic of a number of research analyst reports. Guggenheim lifted their price target on shares of Tenet Healthcare from $180.00 to $188.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group raised their price objective on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Wolfe Research downgraded shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Bank of America lifted their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada upped their target price on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $190.00.
Read Our Latest Stock Analysis on Tenet Healthcare
Tenet Healthcare Stock Performance
NYSE:THC traded down $3.22 during mid-day trading on Friday, hitting $158.06. The stock had a trading volume of 1,034,084 shares, compared to its average volume of 1,687,722. The company has a 50 day simple moving average of $167.58 and a 200-day simple moving average of $146.33. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $185.25. The stock has a market capitalization of $13.96 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 0.67 and a beta of 1.52. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39.
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, beating the consensus estimate of $2.84 by $1.18. The firm had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%. The firm's revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $2.31 EPS. On average, research analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.
About Tenet Healthcare
(
Free Report)
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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