Diversify Advisory Services LLC Invests $230,000 in Tenet Healthcare Corporation (NYSE:THC)

Diversify Advisory Services LLC 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 13F filing with the Securities and Exchange Commission. The firm purchased 1,660 shares of the company's stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Tenet Healthcare during the 4th quarter worth $190,819,000. Raymond James Financial Inc. acquired a new stake in Tenet Healthcare during the 4th quarter worth $49,001,000. Renaissance Technologies LLC raised its stake in Tenet Healthcare by 579.2% during the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company's stock worth $55,360,000 after acquiring an additional 373,988 shares in the last quarter. Bridgewater Associates LP raised its stake in Tenet Healthcare by 225.4% during the 4th quarter. Bridgewater Associates LP now owns 407,194 shares of the company's stock worth $51,400,000 after acquiring an additional 282,071 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Tenet Healthcare by 22.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after purchasing an additional 272,906 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $174.72 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $16.23 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.64. The company has a 50-day simple moving average of $168.41 and a two-hundred day simple moving average of $144.34. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $179.91.

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, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the previous year, the firm earned $3.22 earnings per share. The business's quarterly revenue was down 2.5% on a year-over-year basis. Analysts forecast that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insider Buying and Selling

In other Tenet Healthcare news, 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 value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James L. Bierman sold 13,836 shares of Tenet Healthcare stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $159.58, for a total value of $2,207,948.88. Following the sale, the director owned 41,435 shares of the company's stock, valued at approximately $6,612,197.30. This trade represents a 25.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock worth $8,846,305 over the last quarter. Corporate insiders own 0.81% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Tenet Healthcare from a "buy" rating to a "hold" rating in a research report on Friday. Baird R W cut shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Truist Financial raised their target price on shares of Tenet Healthcare from $190.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Stephens raised shares of Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Finally, Barclays lifted their target price on shares of Tenet Healthcare from $171.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $185.41.

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.

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