State of Wyoming Grows Position in Tenet Healthcare Co. (NYSE:THC)

State of Wyoming raised its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 121.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,337 shares of the company's stock after acquiring an additional 2,922 shares during the quarter. State of Wyoming's holdings in Tenet Healthcare were worth $674,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. New Wave Wealth Advisors LLC acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth about $343,000. Swedbank AB boosted its position in shares of Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company's stock worth $5,049,000 after buying an additional 20,000 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tenet Healthcare in the fourth quarter worth $410,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Tenet Healthcare in the fourth quarter valued at approximately $5,892,000. Finally, abrdn plc raised its holdings in Tenet Healthcare by 29.0% in the 4th quarter. abrdn plc now owns 98,229 shares of the company's stock valued at $12,320,000 after acquiring an additional 22,066 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Bank of America boosted their target price on Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Barclays boosted their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Guggenheim assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price target on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $177.00 target price on shares of Tenet Healthcare in a research note on Thursday, February 13th. Finally, UBS Group increased their price objective on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $174.94.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock traded down $1.73 during trading on Thursday, reaching $161.10. The company's stock had a trading volume of 857,987 shares, compared to its average volume of 1,534,835. The firm has a market cap of $14.96 billion, a PE ratio of 5.00, a P/E/G ratio of 1.02 and a beta of 1.63. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The business's 50-day moving average price is $135.48 and its 200-day moving average price is $136.64. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company's revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.22 earnings per share. Equities analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the transaction, the director now directly owns 22,377 shares in the company, valued at $3,322,984.50. This represents a 18.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paola M. Arbour sold 6,461 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the transaction, the executive vice president now owns 27,848 shares in the company, valued at $4,461,249.60. The trade was a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,987 shares of company stock worth $2,972,421. Company insiders own 0.81% of the company's stock.

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.