Signet Financial Management LLC Acquires 2,805 Shares of Tenet Healthcare Co. (NYSE:THC)

Signet Financial Management LLC increased its stake in Tenet Healthcare Co. (NYSE:THC - Free Report) by 23.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 14,891 shares of the company's stock after purchasing an additional 2,805 shares during the quarter. Signet Financial Management LLC's holdings in Tenet Healthcare were worth $2,003,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC bought a new stake in shares of Tenet Healthcare during the 1st quarter worth $307,000. Farther Finance Advisors LLC boosted its holdings in Tenet Healthcare by 606.9% during the first quarter. Farther Finance Advisors LLC now owns 2,545 shares of the company's stock valued at $340,000 after acquiring an additional 2,185 shares during the period. Portside Wealth Group LLC acquired a new stake in shares of Tenet Healthcare in the first quarter valued at about $449,000. Wedge Capital Management L L P NC lifted its position in shares of Tenet Healthcare by 26.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 300,527 shares of the company's stock worth $40,421,000 after purchasing an additional 62,062 shares during the last quarter. Finally, Wedmont Private Capital bought a new stake in Tenet Healthcare during the 1st quarter valued at approximately $240,000. Institutional investors own 95.44% of the company's stock.

Analyst Upgrades and Downgrades

THC has been the subject of several research reports. Royal Bank of Canada increased their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group increased their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Bank of America boosted their price objective on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. UBS Group lifted their target price on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, TD Cowen initiated coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 price target for the company. Four 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $182.24.

Tenet Healthcare Price Performance

Shares of THC traded down $9.99 during trading hours on Tuesday, hitting $156.20. The stock had a trading volume of 2,635,360 shares, compared to its average volume of 1,535,835. The stock has a market capitalization of $14.51 billion, a price-to-earnings ratio of 4.85, a P/E/G 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. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $174.14. The company's fifty day moving average is $145.01 and its two-hundred day moving average is $137.07.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating the consensus estimate of $3.11 by $1.25. The company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $3.22 EPS. On average, analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare 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 now directly owns 11,292 shares in the company, valued at approximately $1,955,322.72. This trade represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paola M. Arbour sold 7,738 shares of the business's stock in a transaction on 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 completion of the transaction, the executive vice president now directly 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 three months, insiders have sold 54,121 shares of company stock worth $8,846,305. Company insiders own 0.81% of the company's stock.

Tenet Healthcare 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.