Tenet Healthcare Corporation $THC Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 22.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284,753 shares of the company's stock after acquiring an additional 51,549 shares during the period. Empowered Funds LLC owned 0.33% of Tenet Healthcare worth $53,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Tenet Healthcare during the 4th quarter worth $248,494,000. Wellington Management Group LLP lifted its stake in shares of Tenet Healthcare by 1,114.2% in the fourth quarter. Wellington Management Group LLP now owns 1,135,801 shares of the company's stock worth $225,706,000 after buying an additional 1,042,260 shares in the last quarter. Boston Partners boosted its position in Tenet Healthcare by 38.8% during the third quarter. Boston Partners now owns 3,147,555 shares of the company's stock worth $638,958,000 after acquiring an additional 880,413 shares during the last quarter. AQR Capital Management LLC grew its stake in Tenet Healthcare by 62.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company's stock valued at $380,989,000 after acquiring an additional 720,160 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Tenet Healthcare by 375.7% in the 2nd quarter. Alliancebernstein L.P. now owns 790,254 shares of the company's stock valued at $139,085,000 after acquiring an additional 624,125 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Activity

In other Tenet Healthcare news, Director Nadja West sold 3,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $177.35, for a total transaction of $532,050.00. Following the transaction, the director directly owned 24,805 shares in the company, valued at $4,399,166.75. This represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Robert Kerrey sold 5,638 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total value of $983,943.76. Following the transaction, the director owned 16,804 shares of the company's stock, valued at approximately $2,932,634.08. This represents a 25.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on THC. UBS Group boosted their target price on Tenet Healthcare from $288.00 to $308.00 and gave the stock a "buy" rating in a report on Monday. Weiss Ratings downgraded Tenet Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, June 2nd. Royal Bank Of Canada upped their target price on Tenet Healthcare from $236.00 to $283.00 and gave the company an "outperform" rating in a report on Monday. Raymond James Financial set a $270.00 target price on Tenet Healthcare in a research note on Monday. Finally, Robert W. Baird lowered their price target on shares of Tenet Healthcare from $245.00 to $210.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Tenet Healthcare has an average rating of "Moderate Buy" and a consensus price target of $257.90.

Tenet Healthcare Trading Up 4.0%

THC opened at $242.42 on Tuesday. The stock has a market capitalization of $20.88 billion, a PE ratio of 9.35, a P/E/G ratio of 1.61 and a beta of 1.27. Tenet Healthcare Corporation has a one year low of $151.00 and a one year high of $248.82. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.35 and a current ratio of 1.41. The business's 50 day moving average price is $186.16 and its 200 day moving average price is $197.79.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its earnings results on Friday, July 24th. The company reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The company had revenue of $6.04 billion during the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter last year, the firm earned $4.02 earnings per share. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts expect that Tenet Healthcare Corporation will post 21 EPS for the current year.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation NYSE: THC is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet's operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.

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