MQS Management LLC Takes Position in Tenet Healthcare Corporation (NYSE:THC)

MQS Management LLC acquired a new stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,618 shares of the company's stock, valued at approximately $218,000.

Several other large investors also recently bought and sold shares of THC. CWM LLC increased its position in Tenet Healthcare by 10.6% during the first quarter. CWM LLC now owns 6,888 shares of the company's stock valued at $926,000 after acquiring an additional 659 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Tenet Healthcare by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the company's stock worth $3,578,000 after purchasing an additional 200 shares during the period. Diversify Wealth Management LLC bought a new stake in Tenet Healthcare during the first quarter valued at approximately $420,000. Xponance Inc. increased its holdings in Tenet Healthcare by 1.1% during the first quarter. Xponance Inc. now owns 11,053 shares of the company's stock valued at $1,487,000 after buying an additional 124 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Tenet Healthcare by 1.3% during 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 during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other news, Director Richard W. Fisher sold 836 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total value of $144,761.76. Following the sale, the director owned 11,292 shares of the company's stock, valued at approximately $1,955,322.72. This represents a 6.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paola M. Arbour sold 7,738 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the transaction, the executive vice president owned 20,110 shares in the company, valued at $3,479,030. The trade was a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,121 shares of company stock valued at $8,846,305. Corporate insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group raised their target price on Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Truist Financial set a $205.00 price objective on Tenet Healthcare and gave the company a "buy" rating in a research note on Wednesday. Bank of America raised their target price on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. UBS Group upped their price target on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Guggenheim assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 target price on the stock. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $185.41.

Tenet Healthcare Price Performance

Shares of NYSE THC traded up $1.48 during midday trading on Thursday, reaching $174.87. 344,506 shares of the stock traded hands, compared to its average volume of 1,538,629. The company's 50 day moving average is $167.37 and its 200 day moving average is $143.40. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $179.91. The stock has a market capitalization of $16.24 billion, a PE ratio of 11.57, a P/E/G ratio of 1.26 and a beta of 1.64. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $5.15 billion. During the same period last year, the company posted $3.22 EPS. The business's revenue was down 2.5% on a year-over-year basis. On average, equities research analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current 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.