Tenet Healthcare Corporation (NYSE:THC) Shares Bought by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC grew its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 27.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,000 shares of the company's stock after purchasing an additional 15,000 shares during the quarter. Tenet Healthcare makes up about 5.1% of Sivik Global Healthcare LLC's holdings, making the stock its 3rd biggest position. Sivik Global Healthcare LLC owned 0.07% of Tenet Healthcare worth $9,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Colonial Trust Co SC increased its holdings in shares of Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after acquiring an additional 114 shares during the period. GeoWealth Management LLC increased its holdings in shares of Tenet Healthcare by 39.8% in the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares during the period. WR Wealth Planners LLC increased its holdings in shares of Tenet Healthcare by 2,836.4% in the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after acquiring an additional 312 shares during the period. Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 110 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $60,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Trading Up 1.6%

NYSE:THC traded up $2.67 on Tuesday, reaching $171.79. The stock had a trading volume of 1,174,685 shares, compared to its average volume of 1,831,579. The company has a market cap of $15.96 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 1.23 and a beta of 1.65. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.78 and a quick ratio of 1.70. The firm's fifty day moving average is $154.02 and its two-hundred day moving average is $138.92. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $174.14.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results 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. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a net margin of 7.09% and a return on equity of 22.58%. The firm's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.22 EPS. Equities analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In related news, 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 value of $742,648.50. Following the transaction, the director now owns 22,377 shares in the company, valued at approximately $3,322,984.50. This trade represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 transaction of $144,761.76. Following the completion of the transaction, the director now owns 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. Insiders have sold a total of 54,121 shares of company stock worth $8,846,305 in the last three months. Company insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on THC shares. UBS Group lifted their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Wall Street Zen raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Sunday, June 15th. Wells Fargo & Company raised shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $150.00 to $195.00 in a research note on Thursday, May 29th. Morgan Stanley boosted their price objective on shares of Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.24.

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.