Natixis Advisors LLC Buys 18,123 Shares of Tenet Healthcare Corporation (NYSE:THC)

Key Points

• Natixis Advisors LLC increased its holdings in Tenet Healthcare by 102.7%, owning 35,763 shares worth approximately $4.81 million as of the latest SEC filing.
• Tenet Healthcare reported earnings per share of $4.02 for the last quarter, significantly surpassing analysts' expectations and reflecting a 3.2% year-over-year revenue growth to $5.27 billion.
• Despite recent share sales by insiders, institutional investors own 95.44% of Tenet Healthcare, and the company has received several upgrades from investment analysts, with a consensus target price of $191.56.

Natixis Advisors LLC grew its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 102.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,763 shares of the company's stock after acquiring an additional 18,123 shares during the period. Natixis Advisors LLC's holdings in Tenet Healthcare were worth $4,810,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of THC. Dimensional Fund Advisors LP grew its position in shares of Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock worth $188,524,000 after buying an additional 272,906 shares during the last quarter. AQR Capital Management LLC increased its position in Tenet Healthcare by 20.8% during the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock valued at $110,087,000 after purchasing an additional 150,361 shares during the period. Northern Trust Corp grew its holdings in shares of Tenet Healthcare by 22.0% during the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company's stock worth $107,049,000 after acquiring an additional 152,671 shares during the period. Bank of New York Mellon Corp lifted its position in Tenet Healthcare by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 815,126 shares of the company's stock valued at $109,634,000 after buying an additional 13,057 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Tenet Healthcare by 45.2% in the 1st quarter. Victory Capital Management Inc. now owns 736,252 shares of the company's stock worth $99,026,000 after acquiring an additional 229,197 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded up $3.99 during midday trading on Thursday, reaching $163.25. 830,818 shares of the company were exchanged, compared to its average volume of 1,583,136. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The stock has a market cap of $14.42 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 0.68 and a beta of 1.52. The business's fifty day moving average is $167.34 and its two-hundred day moving average is $146.81. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $185.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $1.18. The firm had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%. The business's revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 earnings per share. As a group, analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Wall Street Analyst Weigh In

THC has been the topic of a number of recent research reports. Royal Bank Of Canada upped their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Wolfe Research cut Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Morgan Stanley increased their target price on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Robert W. Baird dropped their price target on shares of Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Finally, Barclays decreased their target price on shares of Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $191.56.

Insider Activity at Tenet Healthcare

In other news, Director James L. Bierman sold 4,613 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $170.00, for a total value of $784,210.00. Following the sale, the director directly owned 35,271 shares in the company, valued at $5,996,070. The trade was a 11.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard W. Fisher sold 836 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director directly owned 11,292 shares of the company's stock, valued at $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 54,121 shares of company stock valued at $8,846,305 over the last quarter. 0.81% of the stock is currently owned by insiders.

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.