28,083 Shares in Tenet Healthcare Corporation (NYSE:THC) Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. bought a new position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 28,083 shares of the company's stock, valued at approximately $3,777,000.

Several other institutional investors also recently modified their holdings of THC. EverSource Wealth Advisors LLC raised its stake in Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after buying an additional 80 shares during the period. GeoWealth Management LLC lifted its holdings in shares of Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after purchasing an additional 84 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Tenet Healthcare by 1.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock valued at $732,000 after purchasing an additional 92 shares during the period. Prudential PLC increased its stake in Tenet Healthcare by 0.7% during the 4th quarter. Prudential PLC now owns 15,344 shares of the company's stock worth $1,937,000 after purchasing an additional 107 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake 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 buying an additional 110 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

Shares of THC stock traded up $3.03 on Friday, reaching $175.59. The stock had a trading volume of 188,272 shares, compared to its average volume of 1,579,629. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $177.32. 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 firm has a market capitalization of $16.31 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 1.23 and a beta of 1.65. The firm's 50-day moving average is $156.01 and its two-hundred day moving average is $139.35.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, May 12th. 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. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Sunday, June 15th. Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Finally, Wells Fargo & Company raised shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $150.00 to $195.00 in a research note on Thursday, May 29th. 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 company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $182.24.

Insider Transactions at Tenet Healthcare

In other news, EVP Thomas W. Arnst sold 9,786 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total value of $1,624,476.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paola M. Arbour sold 7,738 shares of Tenet Healthcare stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the completion of the sale, the executive vice president now owns 20,110 shares of the company's stock, valued at $3,479,030. This trade represents a 27.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,121 shares of company stock worth $8,846,305. 0.81% of the stock is owned by insiders.

About Tenet Healthcare

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.