China Universal Asset Management Co. Ltd. Grows Stock Holdings in Tenet Healthcare Corporation (NYSE:THC)

China Universal Asset Management Co. Ltd. lifted its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 125.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,331 shares of the company's stock after purchasing an additional 4,081 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Tenet Healthcare were worth $986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Tenet Healthcare by 65.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company's stock valued at $189,000 after purchasing an additional 562 shares in the last quarter. GAMMA Investing LLC lifted its stake in Tenet Healthcare by 28.1% in the 1st quarter. GAMMA Investing LLC now owns 1,430 shares of the company's stock valued at $192,000 after buying an additional 314 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Tenet Healthcare in the 1st quarter valued at approximately $1,986,000. LPL Financial LLC lifted its stake in shares of Tenet Healthcare by 40.6% during the 4th quarter. LPL Financial LLC now owns 67,136 shares of the company's stock worth $8,475,000 after purchasing an additional 19,389 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock worth $188,524,000 after purchasing an additional 272,906 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $172.50 on Wednesday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.70 and a current ratio of 1.78. The company has a market capitalization of $16.02 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.26 and a beta of 1.64. Tenet Healthcare Corporation has a 52 week low of $109.82 and a 52 week high of $178.76. The company has a 50-day simple moving average of $164.26 and a 200 day simple moving average of $141.62.

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

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 7,738 shares of the 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 transaction, the executive vice president owned 20,110 shares in the company, valued at $3,479,030. This trade represents a 27.79% decrease in their ownership of the stock. The sale 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 firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $159.58, for a total transaction of $2,207,948.88. Following the completion of the transaction, the director owned 41,435 shares of the company's stock, valued at $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. Insiders sold 54,121 shares of company stock valued at $8,846,305 over the last 90 days. Insiders own 0.81% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays increased their price target on Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. Baird R W cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Guggenheim started coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 target price on the stock. Bank of America lifted their price target on Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $183.94.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.