Farther Finance Advisors LLC Boosts Stock Holdings in Tenet Healthcare Corporation (NYSE:THC)

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

Several other hedge funds have also recently modified their holdings of the company. Colonial Trust Co SC grew its stake in Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares during the period. GeoWealth Management LLC grew its position in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after buying an additional 84 shares during the period. WR Wealth Planners LLC raised its position in 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 acquiring an additional 312 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Tenet Healthcare by 30.5% during the 4th 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 purchased a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $60,000. Institutional investors own 95.44% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on THC shares. Guggenheim initiated coverage on Tenet Healthcare in a report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price objective for the company. Robert W. Baird reiterated 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. 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 note on Monday, May 5th. 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. Finally, Wall Street Zen upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Sunday. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $182.24.

Insider Activity at Tenet Healthcare

In related news, EVP Paola M. Arbour sold 7,738 shares of Tenet Healthcare stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the transaction, the executive vice president now owns 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 the SEC website. Also, Director Richard W. Fisher sold 836 shares of the company'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 sale, the director now owns 11,292 shares of the company's stock, valued at approximately $1,955,322.72. The trade was a 6.89% 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 insiders.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $167.13 on Wednesday. The firm has a market capitalization of $15.52 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.20 and a beta of 1.65. 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's 50-day simple moving average is $149.70 and its two-hundred day simple moving average is $137.94. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $174.14.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 7.09% and a return on equity of 22.58%. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same period last year, the firm posted $3.22 earnings per share. Tenet Healthcare's quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS 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.

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