Cetera Investment Advisers Acquires 7,801 Shares of Tenet Healthcare Corporation (NYSE:THC)

Cetera Investment Advisers grew its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 37.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,820 shares of the company's stock after acquiring an additional 7,801 shares during the period. Cetera Investment Advisers' holdings in Tenet Healthcare were worth $3,876,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Tenet Healthcare during the 1st quarter valued at $26,000. Wayfinding Financial LLC acquired a new stake in Tenet Healthcare during the first quarter worth approximately $28,000. Colonial Trust Co SC lifted its stake 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 during the period. GeoWealth Management LLC boosted its stake in Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after buying an additional 84 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings 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 acquiring an additional 227 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Activity

In other news, Director Richard W. Fisher sold 3,077 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total value of $509,920.44. Following the sale, the director directly owned 12,128 shares of the company's stock, valued at approximately $2,009,852.16. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the sale, the director owned 22,377 shares of the company's stock, valued at approximately $3,322,984.50. The trade was a 18.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,121 shares of company stock valued at $8,846,305. Corporate insiders own 0.81% of the company's stock.

Analyst Ratings Changes

THC has been the subject of several research reports. Raymond James Financial reissued an "outperform" rating and set a $200.00 price objective (up from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Bank of America upped their price target 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. Robert W. Baird decreased their price target on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Wolfe Research lowered shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a report on Monday, July 28th. Finally, Guggenheim boosted their price target on Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $191.56.

Tenet Healthcare Price Performance

NYSE:THC traded up $3.99 during midday trading on Thursday, hitting $163.25. 830,808 shares of the stock were exchanged, compared to its average volume of 1,583,136. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $185.25. The company has a market capitalization of $14.42 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 0.68 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. The business has a 50-day moving average price of $167.34 and a two-hundred day moving average price of $146.81.

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

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.