Polianta Ltd Invests $1.24 Million in Tenet Healthcare Co. (NYSE:THC)

Polianta Ltd bought a new position in Tenet Healthcare Co. (NYSE:THC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,200 shares of the company's stock, valued at approximately $1,237,000. Tenet Healthcare comprises about 0.6% of Polianta Ltd's investment portfolio, making the stock its 22nd largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in THC. EverSource Wealth Advisors LLC grew its holdings in shares of Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after acquiring an additional 80 shares in the last quarter. GeoWealth Management LLC boosted its position in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after purchasing an additional 84 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Tenet Healthcare by 1.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after purchasing an additional 92 shares during the last quarter. Prudential PLC raised its stake in shares of 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 grew its stake in shares of Tenet Healthcare by 30.5% in the 4th 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 owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on THC. Truist Financial lifted their target price on shares of Tenet Healthcare from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Stephens raised shares of Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. TD Cowen started coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price target for the company. Bank of America increased their price objective on Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, UBS Group boosted their target price on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $182.24.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 9,786 shares of the firm'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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Robert Kerrey sold 5,001 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the sale, the director now directly owns 22,377 shares of the company's stock, valued at approximately $3,322,984.50. This represents a 18.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock worth $8,846,305 in the last quarter. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare Stock Performance

Shares of NYSE THC traded down $0.25 during trading hours on Monday, reaching $164.12. The stock had a trading volume of 3,832,622 shares, compared to its average volume of 1,571,919. Tenet Healthcare Co. has a twelve month low of $109.82 and a twelve month high of $174.14. The company has a market cap of $15.24 billion, a price-to-earnings ratio of 5.09, a PEG ratio of 1.02 and a beta of 1.65. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The business's fifty day moving average is $148.99 and its two-hundred day moving average is $137.74.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its 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. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. During the same period in the prior year, the firm posted $3.22 EPS. Tenet Healthcare's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, research analysts expect that Tenet Healthcare Co. will post 12.24 EPS 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.