Cerity Partners LLC Boosts Stock Holdings in Tenet Healthcare Corporation (NYSE:THC)

Cerity Partners LLC boosted its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 338.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,228 shares of the company's stock after buying an additional 84,309 shares during the quarter. Cerity Partners LLC owned approximately 0.12% of Tenet Healthcare worth $14,691,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Proficio Capital Partners LLC acquired a new stake in Tenet Healthcare in the fourth quarter valued at about $5,832,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Tenet Healthcare by 5.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,370 shares of the company's stock valued at $4,086,000 after buying an additional 1,656 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Tenet Healthcare during the 4th quarter worth approximately $252,000. EverSource Wealth Advisors LLC increased its stake in shares of Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after purchasing an additional 80 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in shares of Tenet Healthcare by 3.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,433 shares of the company's stock worth $686,000 after purchasing an additional 157 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Stock Up 1.2%

Shares of NYSE THC opened at $175.77 on Monday. The firm has a market capitalization of $16.33 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.28 and a beta of 1.64. 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 1 year low of $109.82 and a 1 year high of $178.76. The firm's 50-day moving average is $165.94 and its 200-day moving average is $142.64.

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

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Paola M. Arbour sold 7,738 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the transaction, the executive vice president owned 20,110 shares of the company's stock, valued at $3,479,030. The trade was 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 available 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 value of $2,207,948.88. Following the transaction, the director directly 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. Insiders sold 54,121 shares of company stock valued at $8,846,305 in the last 90 days. Company insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on THC. The Goldman Sachs Group raised their target price on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Guggenheim started coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They set a "buy" rating and a $165.00 target price on the stock. Robert W. Baird restated a "neutral" rating and set a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Wells Fargo & Company raised shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $150.00 to $195.00 in a research note on Thursday, May 29th. Finally, UBS Group boosted their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Three investment 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 company's stock. According to MarketBeat.com, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and an average price target of $184.53.

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.

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