Boston Partners Boosts Holdings in Tenet Healthcare Corporation (NYSE:THC)

Key Points

• Boston Partners significantly increased its stake in Tenet Healthcare by 692.9% in the 1st quarter, now holding approximately 1.25% of the company's stock valued at $156.3 million.
• Tenet Healthcare reported $4.02 EPS for the last quarter, surpassing analyst expectations of $2.84, and its revenue rose to $5.27 billion, exceeding projections.
• Analyst ratings for Tenet Healthcare show a consensus rating of "Moderate Buy" with a target price of $191.56, indicating bullish sentiment among market analysts.

Boston Partners raised its holdings in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 692.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,162,642 shares of the company's stock after purchasing an additional 1,016,010 shares during the period. Boston Partners owned 1.25% of Tenet Healthcare worth $156,318,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. US Bancorp DE increased its stake in shares of Tenet Healthcare by 0.8% in the first quarter. US Bancorp DE now owns 8,620 shares of the company's stock worth $1,159,000 after purchasing an additional 68 shares in the last quarter. Lindbrook Capital LLC grew its stake in Tenet Healthcare by 5.3% during the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company's stock valued at $192,000 after acquiring an additional 72 shares in the last quarter. Covestor Ltd grew its stake in Tenet Healthcare by 10.4% during the first quarter. Covestor Ltd now owns 873 shares of the company's stock valued at $117,000 after acquiring an additional 82 shares in the last quarter. GeoWealth Management LLC grew its stake in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares in the last quarter. Finally, Colonial Trust Co SC grew its stake in Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Down 0.2%

NYSE THC traded down $0.32 during trading on Friday, hitting $172.04. The company had a trading volume of 1,092,471 shares, compared to its average volume of 1,668,173. 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 company's fifty day moving average is $167.18 and its 200-day moving average is $148.40. The company has a market cap of $15.20 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 0.74 and a beta of 1.52. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $185.25.

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

Analysts Set New Price Targets

THC has been the subject of several recent analyst reports. Guggenheim boosted their price objective on shares of Tenet Healthcare from $180.00 to $188.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Raymond James Financial reissued an "outperform" rating and issued a $200.00 price target (up previously from $185.00) on shares of Tenet Healthcare in a research note on Wednesday, July 23rd. Wells Fargo & Company boosted their price target on shares of Tenet Healthcare from $195.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday. Wolfe Research cut shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 28th. Finally, The Goldman Sachs Group boosted their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $191.88.

Insider Activity at Tenet Healthcare

In related news, EVP Paola M. Arbour sold 7,738 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the sale, the executive vice president directly owned 20,110 shares of the company's stock, valued at approximately $3,479,030. This represents a 27.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James L. Bierman sold 4,613 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $170.00, for a total transaction of $784,210.00. Following the sale, the director directly owned 35,271 shares in the company, valued at $5,996,070. This trade represents a 11.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,659 shares of company stock worth $7,068,604 in the last ninety days. 0.81% of the stock is currently owned by company insiders.

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.