Tenet Healthcare Corporation (NYSE:THC) Shares Acquired by KBC Group NV

KBC Group NV increased its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 124.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,721 shares of the company's stock after purchasing an additional 8,711 shares during the quarter. KBC Group NV's holdings in Tenet Healthcare were worth $2,114,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 80 shares during the period. GeoWealth Management LLC raised its position in Tenet Healthcare by 39.8% in the fourth 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 raised its position in Tenet Healthcare by 1.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after acquiring an additional 92 shares in the last quarter. Prudential PLC raised its position in Tenet Healthcare by 0.7% in the fourth quarter. Prudential PLC now owns 15,344 shares of the company's stock worth $1,937,000 after acquiring an additional 107 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after acquiring an additional 110 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on THC shares. Royal Bank Of Canada increased their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Morgan Stanley increased their price objective on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Robert W. Baird reiterated a "neutral" rating and issued a $137.00 price objective (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, Wall Street Zen upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Sunday, June 15th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $183.94.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 9,786 shares of Tenet Healthcare stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $166.00, for a total value of $1,624,476.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 836 shares of Tenet Healthcare stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.16, for a total value of $144,761.76. Following the completion of the sale, the director owned 11,292 shares of the company's stock, valued at $1,955,322.72. This trade represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,121 shares of company stock worth $8,846,305 over the last ninety days. Insiders own 0.81% of the company's stock.

Tenet Healthcare Price Performance

Shares of THC traded down $0.72 during trading hours on Friday, reaching $171.50. 977,101 shares of the company traded hands, compared to its average volume of 1,811,943. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $15.93 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.25 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 $178.76. The stock has a fifty day simple moving average of $162.58 and a 200 day simple moving average of $140.99.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $1.25. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.22 earnings per share. As a group, research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Tenet Healthcare 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.