Tenet Healthcare Corporation (NYSE:THC) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 606.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,545 shares of the company's stock after purchasing an additional 2,185 shares during the quarter. Farther Finance Advisors LLC's holdings in Tenet Healthcare were worth $340,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Colonial Trust Co SC lifted its holdings in shares of Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after purchasing an additional 114 shares during the period. GeoWealth Management LLC lifted its holdings in Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares during the period. WR Wealth Planners LLC lifted its holdings in Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after acquiring an additional 312 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after acquiring an additional 110 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in Tenet Healthcare in the fourth quarter valued at approximately $60,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the sale, the director now directly owns 22,377 shares of the company's stock, valued at $3,322,984.50. This trade represents a 18.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paola M. Arbour sold 6,461 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $160.20, for a total value of $1,035,052.20. Following the completion of the sale, the executive vice president now directly owns 27,848 shares of the company's stock, valued at $4,461,249.60. This trade represents a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,121 shares of company stock valued at $8,846,305. 0.81% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on THC. Wells Fargo & Company raised Tenet Healthcare from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $150.00 to $195.00 in a report on Thursday, May 29th. Guggenheim began coverage on Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price target for the company. Royal Bank Of Canada boosted their price target on Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Barclays boosted their price target on Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. Finally, The Goldman Sachs Group boosted their price objective on Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $182.24.

Tenet Healthcare Price Performance

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

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. 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 period in the prior year, the company earned $3.22 EPS. The firm's revenue was down 2.5% compared to the same quarter last year. Equities 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.