Swiss National Bank Has $24.78 Million Stock Position in Tenet Healthcare Corporation (NYSE:THC)

Swiss National Bank lowered its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 184,200 shares of the company's stock after selling 4,200 shares during the quarter. Swiss National Bank owned about 0.20% of Tenet Healthcare worth $24,775,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. US Bancorp DE increased its position in shares of Tenet Healthcare by 0.8% in the 1st quarter. US Bancorp DE now owns 8,620 shares of the company's stock valued at $1,159,000 after buying an additional 68 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Tenet Healthcare by 5.3% in the 1st quarter. Lindbrook Capital LLC now owns 1,427 shares of the company's stock valued at $192,000 after buying an additional 72 shares in the last quarter. GeoWealth Management LLC increased its position 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 buying an additional 84 shares in the last quarter. Colonial Trust Co SC increased its position 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 buying an additional 114 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Tenet Healthcare by 2.7% in the 1st quarter. Meeder Asset Management Inc. now owns 4,521 shares of the company's stock valued at $608,000 after buying an additional 118 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $170.43 on Wednesday. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $185.25. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 0.71 and a beta of 1.52. The business has a 50-day moving average of $167.11 and a 200-day moving average of $147.78.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%. The business had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. During the same quarter last year, the company posted $2.31 earnings per share. Tenet Healthcare's quarterly revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on THC shares. Truist Financial upped their price objective on shares of Tenet Healthcare from $190.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. increased their target price on Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Robert W. Baird lowered their target price on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Royal Bank Of Canada increased their target price on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Baird R W cut Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $191.56.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 9,786 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total transaction of $1,624,476.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James L. Bierman sold 13,836 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $159.58, for a total transaction of $2,207,948.88. Following the sale, the director owned 41,435 shares of the company's stock, valued at $6,612,197.30. This trade represents a 25.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,120 shares of company stock valued at $8,103,656 in the last three months. Corporate insiders own 0.81% of the company's stock.

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.

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