Diversify Wealth Management LLC Purchases Shares of 3,035 Tenet Healthcare Corporation (NYSE:THC)

Diversify Wealth Management LLC purchased a new stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,035 shares of the company's stock, valued at approximately $420,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Xponance Inc. increased its position in shares of Tenet Healthcare by 1.1% during the 1st quarter. Xponance Inc. now owns 11,053 shares of the company's stock valued at $1,487,000 after purchasing an additional 124 shares during the last quarter. State of Michigan Retirement System increased its holdings in Tenet Healthcare by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 22,793 shares of the company's stock worth $3,066,000 after acquiring an additional 300 shares in the last quarter. Cerity Partners LLC increased its holdings in Tenet Healthcare by 338.3% in the 1st quarter. Cerity Partners LLC now owns 109,228 shares of the company's stock worth $14,691,000 after acquiring an additional 84,309 shares in the last quarter. Personal CFO Solutions LLC purchased a new stake in Tenet Healthcare in the 1st quarter worth approximately $225,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Tenet Healthcare by 125.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,331 shares of the company's stock worth $986,000 after acquiring an additional 4,081 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Richard W. Fisher sold 3,077 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total transaction of $509,920.44. Following the completion of the sale, the director directly owned 12,128 shares in the company, valued at approximately $2,009,852.16. The trade was a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Robert Kerrey sold 5,001 shares of the company's stock in a transaction 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 owned 22,377 shares of the company's stock, valued at approximately $3,322,984.50. The trade was a 18.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,121 shares of company stock worth $8,846,305. 0.81% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Up 0.1%

THC traded up $0.09 on Thursday, hitting $173.48. The company had a trading volume of 103,790 shares, compared to its average volume of 1,536,820. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.70 and a current ratio of 1.78. The stock has a market capitalization of $16.11 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.26 and a beta of 1.64. The stock has a fifty day moving average price of $167.37 and a 200-day moving average price of $143.40. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $179.91.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share 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 business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter last year, the company earned $3.22 earnings per share. The company's quarterly revenue was down 2.5% on a year-over-year basis. Analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays increased their price objective on shares of Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. Wells Fargo & Company raised shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $150.00 to $195.00 in a report on Thursday, May 29th. Baird R W lowered shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Stephens raised shares of Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Finally, Royal Bank Of Canada increased their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $185.41.

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.