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

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

A number of other hedge funds have also modified their holdings of the company. Colonial Trust Co SC lifted its holdings in shares of Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after buying an additional 114 shares in the last quarter. GeoWealth Management LLC lifted its holdings in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after buying an additional 84 shares in the last quarter. WR Wealth Planners LLC lifted its holdings in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after buying an additional 312 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after buying an additional 110 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in shares of Tenet Healthcare in the fourth quarter worth $60,000. 95.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tenet Healthcare news, 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 transaction, the director now directly owns 22,377 shares in the company, valued at $3,322,984.50. This represents a 18.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paola M. Arbour sold 6,461 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the transaction, the executive vice president now owns 27,848 shares in the company, valued at approximately $4,461,249.60. The trade was a 18.83% 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 worth $8,846,305 in the last three months. Corporate insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

THC has been the topic of several research analyst reports. TD Cowen assumed coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price on the stock. Robert W. Baird reaffirmed a "neutral" rating and set a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. UBS Group upped their price target on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Barclays boosted their price objective on shares of Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. Finally, Bank of America boosted their price objective on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Three equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $182.24.

Tenet Healthcare Trading Up 0.3%

THC stock traded up $0.54 during trading on Friday, hitting $168.12. The company had a trading volume of 4,228,712 shares, compared to its average volume of 1,621,853. The firm has a market capitalization of $15.62 billion, a P/E ratio of 11.12, a PEG ratio of 1.23 and a beta of 1.65. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $174.14. The company has a 50 day simple moving average of $152.11 and a 200-day simple moving average of $138.48. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.23.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter last year, the firm posted $3.22 EPS. The firm's revenue was down 2.5% compared to the same quarter last year. As a group, research analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal 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.