Tenet Healthcare Corporation (NYSE:THC) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lifted its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 80.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 15,767 shares of the company's stock after acquiring an additional 7,036 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Tenet Healthcare were worth $2,121,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Tenet Healthcare by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock worth $268,591,000 after acquiring an additional 71,454 shares in the last quarter. Norges Bank acquired a new position in Tenet Healthcare during the 4th quarter worth $190,819,000. Dimensional Fund Advisors LP increased its holdings in 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. AQR Capital Management LLC boosted its stake in shares of Tenet Healthcare by 20.8% in the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock valued at $110,087,000 after buying an additional 150,361 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Tenet Healthcare by 22.0% during the fourth quarter. Northern Trust Corp now owns 848,049 shares of the company's stock worth $107,049,000 after buying an additional 152,671 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on THC shares. Royal Bank Of Canada boosted their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Barclays increased their target price on Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Sunday, June 15th. Morgan Stanley raised their target price on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company raised Tenet Healthcare from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $150.00 to $195.00 in a report on Thursday, May 29th. Three equities research 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $184.53.

Tenet Healthcare Stock Performance

NYSE THC traded up $2.11 during trading on Friday, reaching $175.77. The company's stock had a trading volume of 946,825 shares, compared to its average volume of 1,479,983. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $178.76. The firm has a market cap of $16.33 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 1.27 and a beta of 1.64. The business's fifty day moving average price is $165.94 and its 200-day moving average price is $142.45. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.70 and a current ratio of 1.78.

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

Insider Buying and Selling

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 9,786 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $166.00, for a total transaction of $1,624,476.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director J Robert Kerrey sold 5,001 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the sale, the director directly owned 22,377 shares of the company's stock, valued at $3,322,984.50. This represents a 18.27% 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. Insiders own 0.81% of the company's stock.

Tenet Healthcare 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.