Cozad Asset Management Inc. Invests $759,000 in Tenet Healthcare Corporation (NYSE:THC)

Cozad Asset Management Inc. purchased a new position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,641 shares of the company's stock, valued at approximately $759,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new position in Tenet Healthcare during the 1st quarter worth approximately $31,000. Essex Investment Management Co. LLC lifted its stake in shares of Tenet Healthcare by 9.3% in the first quarter. Essex Investment Management Co. LLC now owns 23,911 shares of the company's stock valued at $3,216,000 after buying an additional 2,044 shares in the last quarter. Meeder Asset Management Inc. raised its position in Tenet Healthcare by 2.7% in the first quarter. Meeder Asset Management Inc. now owns 4,521 shares of the company's stock worth $608,000 after acquiring an additional 118 shares during the period. Norden Group LLC bought a new stake in Tenet Healthcare in the first quarter worth about $370,000. Finally, LPL Financial LLC raised its position in Tenet Healthcare by 2.8% in the first quarter. LPL Financial LLC now owns 69,028 shares of the company's stock worth $9,284,000 after acquiring an additional 1,892 shares during the period. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Price Performance

NYSE:THC traded down $3.22 during mid-day trading on Friday, hitting $158.06. 1,034,084 shares of the stock traded hands, compared to its average volume of 1,604,843. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $185.25. The company has a market cap of $14.68 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 0.69 and a beta of 1.64. The business's 50-day moving average price is $167.68 and its 200 day moving average price is $146.00.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The business had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter in the previous year, the company earned $2.31 EPS. The business's quarterly revenue was up 3.2% compared to the same quarter last year. On average, analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

THC has been the topic of several research reports. Baird R W lowered shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Morgan Stanley lifted their target price on shares of Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Wall Street Zen upgraded shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Wolfe Research downgraded shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday. Finally, UBS Group lifted their target price on shares of Tenet Healthcare from $230.00 to $238.00 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 issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $190.00.

Insider Activity at Tenet Healthcare

In related 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 sale, the executive vice president directly owned 20,110 shares of the company's stock, valued at approximately $3,479,030. This represents a 27.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James L. Bierman sold 4,613 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $170.00, for a total transaction of $784,210.00. Following the sale, the director directly owned 35,271 shares in the company, valued at $5,996,070. This trade represents a 11.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,121 shares of company stock worth $8,846,305 in the last ninety days. 0.81% of the stock is currently owned by company insiders.

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.