Focus Partners Wealth Boosts Stake in Tenet Healthcare Co. (NYSE:THC)

Focus Partners Wealth raised its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 125.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,002 shares of the company's stock after purchasing an additional 2,780 shares during the quarter. Focus Partners Wealth's holdings in Tenet Healthcare were worth $631,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in THC. Norges Bank purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at $190,819,000. Wealthfront Advisers LLC purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at $69,059,000. Raymond James Financial Inc. purchased a new stake in shares of Tenet Healthcare in the 4th quarter valued at $49,001,000. Renaissance Technologies LLC raised its holdings in shares of Tenet Healthcare by 579.2% in the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company's stock valued at $55,360,000 after buying an additional 373,988 shares during the period. Finally, Bridgewater Associates LP raised its holdings in shares of Tenet Healthcare by 225.4% in the 4th quarter. Bridgewater Associates LP now owns 407,194 shares of the company's stock valued at $51,400,000 after buying an additional 282,071 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Up 1.0%

NYSE:THC opened at $167.11 on Tuesday. The stock's 50 day moving average price is $133.70 and its 200 day moving average price is $136.23. The company has a market capitalization of $15.52 billion, a PE ratio of 5.18, a P/E/G ratio of 1.02 and a beta of 1.63. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 52-week low of $109.82 and a 52-week high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.22 EPS. On average, research analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Baird R W cut Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Truist Financial boosted their target price on Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Bank of America boosted their target price on Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $174.94.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Paola M. Arbour sold 6,461 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 27,848 shares of the company's stock, valued at approximately $4,461,249.60. This trade represents a 18.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the sale, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. The trade was a 25.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,987 shares of company stock valued at $2,972,421. 0.81% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding THC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenet Healthcare Co. (NYSE:THC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.