Tectonic Advisors LLC Makes New Investment in Tenet Healthcare Corporation (NYSE:THC)

Tectonic Advisors LLC purchased a new stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,738 shares of the company's stock, valued at approximately $1,982,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Tenet Healthcare by 9.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after buying an additional 80 shares in the last quarter. GeoWealth Management LLC boosted its stake in shares of Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after acquiring an additional 84 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Tenet Healthcare by 1.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock valued at $732,000 after acquiring an additional 92 shares during the period. Prudential PLC raised its holdings in Tenet Healthcare by 0.7% in 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 during the period. Finally, Colonial Trust Co SC boosted its position in Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Trading Up 0.4%

NYSE THC traded up $0.70 on Wednesday, reaching $173.48. 1,387,266 shares of the company were exchanged, compared to its average volume of 1,252,239. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.23. The business's fifty day moving average price is $167.37 and its 200 day moving average price is $143.40. The stock has a market capitalization of $16.11 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.26 and a beta of 1.64. Tenet Healthcare Corporation has a fifty-two week low of $109.82 and a fifty-two week high of $179.91.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its quarterly earnings data 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. Tenet Healthcare had a net margin of 7.09% and a return on equity of 22.58%. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the prior year, the firm posted $3.22 earnings per share. Tenet Healthcare's quarterly revenue was down 2.5% on a year-over-year basis. Analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

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 on Wednesday, May 21st. The stock was sold at an average price of $166.00, for a total transaction of $1,624,476.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. Bierman sold 4,613 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $170.00, for a total value of $784,210.00. Following the completion of the transaction, the director directly owned 35,271 shares in the company, valued at approximately $5,996,070. This trade represents a 11.57% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,121 shares of company stock worth $8,846,305. Insiders own 0.81% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank Of Canada upped their target price on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Stephens upgraded shares of Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Wall Street Zen upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Sunday, June 15th. Guggenheim initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They set a "buy" rating and a $165.00 price target for the company. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.41.

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.