Personal CFO Solutions LLC Makes New $225,000 Investment in Tenet Healthcare Corporation (NYSE:THC)

Personal CFO Solutions 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 1,672 shares of the company's stock, valued at approximately $225,000.

Several other institutional investors also recently modified their holdings of the business. Proficio Capital Partners LLC purchased a new position in Tenet Healthcare in the fourth quarter worth about $5,832,000. Raymond James Financial Inc. purchased a new position in Tenet Healthcare in the fourth quarter worth about $49,001,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tenet Healthcare by 5.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,370 shares of the company's stock worth $4,086,000 after purchasing an additional 1,656 shares during the last quarter. Moran Wealth Management LLC boosted its position in Tenet Healthcare by 18.2% in the fourth quarter. Moran Wealth Management LLC now owns 2,439 shares of the company's stock worth $308,000 after purchasing an additional 375 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Tenet Healthcare in the fourth quarter worth about $252,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports 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 research report on Monday, May 5th. Baird R W downgraded Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Morgan Stanley lifted their target price on Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Barclays lifted their target price on Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. Finally, Guggenheim assumed coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average price target of $183.94.

Tenet Healthcare Stock Up 0.6%

NYSE:THC traded up $0.97 during mid-day trading on Friday, hitting $174.63. 251,739 shares of the company's stock traded hands, compared to its average volume of 1,552,148. The company has a fifty day moving average of $165.39 and a 200 day moving average of $142.13. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $178.76. The company has a market capitalization of $16.22 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.25 and a beta of 1.64. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.70 and a current ratio of 1.78.

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

Insider Buying and Selling at Tenet Healthcare

In other news, Director James L. Bierman sold 4,613 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $170.00, for a total value of $784,210.00. Following the sale, the director owned 35,271 shares in the company, valued at $5,996,070. This represents a 11.57% decrease in their ownership of the stock. The sale was disclosed in a filing 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 stock was sold at an average price of $173.16, for a total value of $144,761.76. Following the completion of the sale, the director owned 11,292 shares in the company, valued at $1,955,322.72. The trade was a 6.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,121 shares of company stock worth $8,846,305. 0.81% of the stock is owned by corporate 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.