CWA Asset Management Group LLC Buys 4,439 Shares of Tenet Healthcare Corporation (NYSE:THC)

CWA Asset Management Group LLC grew its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 31.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,369 shares of the company's stock after acquiring an additional 4,439 shares during the period. CWA Asset Management Group LLC's holdings in Tenet Healthcare were worth $2,471,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. grew its stake in shares of Tenet Healthcare by 541.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 9,478 shares of the company's stock valued at $1,213,000 after buying an additional 8,000 shares during the period. Truist Financial Corp raised its stake in shares of Tenet Healthcare by 1.6% in the 4th quarter. Truist Financial Corp now owns 12,407 shares of the company's stock valued at $1,566,000 after purchasing an additional 198 shares in the last quarter. Alberta Investment Management Corp raised its stake in shares of Tenet Healthcare by 212.5% in the 4th quarter. Alberta Investment Management Corp now owns 25,000 shares of the company's stock valued at $3,156,000 after purchasing an additional 17,000 shares in the last quarter. LPL Financial LLC raised its stake in Tenet Healthcare by 40.6% during the fourth quarter. LPL Financial LLC now owns 67,136 shares of the company's stock worth $8,475,000 after acquiring an additional 19,389 shares during the period. Finally, Convergence Investment Partners LLC grew its position in Tenet Healthcare by 25.4% in the 4th quarter. Convergence Investment Partners LLC now owns 11,605 shares of the company's stock worth $1,465,000 after purchasing an additional 2,351 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tenet Healthcare

In related news, Director Richard W. Fisher sold 836 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.16, for a total transaction of $144,761.76. Following the transaction, the director now directly owns 11,292 shares of the company's stock, valued at approximately $1,955,322.72. This trade represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paola M. Arbour sold 7,738 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the transaction, the executive vice president now directly owns 20,110 shares in the company, valued at approximately $3,479,030. This represents a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,121 shares of company stock valued at $8,846,305 over the last 90 days. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare Trading Up 0.3%

Shares of NYSE:THC traded up $0.54 during trading on Friday, hitting $168.12. 4,228,712 shares of the company's stock were exchanged, compared to its average volume of 1,621,853. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $174.14. The firm has a 50-day moving average price of $152.11 and a two-hundred day moving average price of $138.51. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.23. The firm has a market cap of $15.62 billion, a P/E ratio of 11.12, a PEG ratio of 1.22 and a beta of 1.65.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on THC. Robert W. Baird reiterated a "neutral" rating and issued a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Bank of America increased their target price 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. The Goldman Sachs Group increased their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Finally, Truist Financial raised their target price on shares of Tenet Healthcare from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.24.

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.