TD Asset Management Inc Increases Stock Holdings in Tenet Healthcare Corporation (NYSE:THC)

TD Asset Management Inc raised its stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,253 shares of the company's stock after acquiring an additional 7,608 shares during the quarter. TD Asset Management Inc owned approximately 0.14% of Tenet Healthcare worth $17,519,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in THC. Raymond James Financial Inc. acquired a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $49,001,000. Renaissance Technologies LLC lifted its stake in Tenet Healthcare by 579.2% during the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company's stock valued at $55,360,000 after acquiring an additional 373,988 shares in the last quarter. Bridgewater Associates LP lifted its stake in Tenet Healthcare by 225.4% during the 4th quarter. Bridgewater Associates LP now owns 407,194 shares of the company's stock valued at $51,400,000 after acquiring an additional 282,071 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after acquiring an additional 272,906 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Tenet Healthcare by 45.2% during the 1st quarter. Victory Capital Management Inc. now owns 736,252 shares of the company's stock valued at $99,026,000 after acquiring an additional 229,197 shares in the last quarter. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Down 2.0%

Shares of NYSE:THC traded down $3.22 during trading on Friday, reaching $158.06. 1,034,084 shares of the company traded hands, compared to its average volume of 1,604,843. The firm has a market capitalization of $14.68 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 0.69 and a beta of 1.64. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $185.25. The company has a current ratio of 1.71, a quick ratio of 1.63 and a debt-to-equity ratio of 2.39. The business's fifty day moving average is $167.68 and its 200-day moving average is $146.00.

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

Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 1,222 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $164.96, for a total value of $201,581.12. Following the sale, the director directly owned 22,377 shares of the company's stock, valued at approximately $3,691,309.92. This represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Paola M. Arbour sold 7,738 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the sale, the executive vice president directly owned 20,110 shares in the company, valued at approximately $3,479,030. This represents a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,121 shares of company stock valued at $8,846,305. 0.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on THC. Wolfe Research cut Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday. Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Barclays lowered their price objective on Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Mizuho upped their price target on Tenet Healthcare from $184.00 to $194.00 and gave the company an "outperform" rating in a research report on Friday, July 11th. Finally, Morgan Stanley upped their price target on Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $190.00.

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.