Townsquare Capital LLC Has $3.16 Million Position in Tenet Healthcare Corporation (NYSE:THC)

Key Points

• Townsquare Capital LLC has significantly increased its stake in Tenet Healthcare Corporation by 956.6% in the first quarter, owning 23,499 shares valued at approximately $3.16 million.
• Institutional investors own 95.44% of Tenet Healthcare's stock, with notable changes in positions from firms like US Bancorp and Lindbrook Capital in recent quarters.
• Analysts have set a range of new price targets for Tenet Healthcare, with Guggenheim raising their target to $188.00 and Morgan Stanley to $210.00, reflecting a generally positive outlook on the stock.

Townsquare Capital LLC increased its stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 956.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,499 shares of the company's stock after purchasing an additional 21,275 shares during the quarter. Townsquare Capital LLC's holdings in Tenet Healthcare were worth $3,161,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. US Bancorp DE increased its holdings in 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 buying an additional 68 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Tenet Healthcare by 5.3% in the first quarter. Lindbrook Capital LLC now owns 1,427 shares of the company's stock worth $192,000 after buying an additional 72 shares during the last quarter. GeoWealth Management LLC increased its holdings 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 buying an additional 84 shares during the last quarter. Colonial Trust Co SC increased its holdings in Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after buying an additional 114 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in Tenet Healthcare by 2.7% in the 1st quarter. Meeder Asset Management Inc. now owns 4,521 shares of the company's stock worth $608,000 after purchasing an additional 118 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 1,222 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $164.96, for a total value of $201,581.12. Following the completion of the transaction, the director owned 22,377 shares in the company, valued at $3,691,309.92. The trade was a 5.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard W. Fisher sold 3,077 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total transaction of $509,920.44. Following the completion of the transaction, the director owned 12,128 shares of the company's stock, valued at $2,009,852.16. This trade represents a 20.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,120 shares of company stock worth $8,103,656 over the last ninety days. 0.81% of the stock is currently owned by insiders.

Analysts Set New Price Targets

THC has been the subject of several analyst reports. Guggenheim boosted their target price on Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Morgan Stanley boosted their target price on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Robert W. Baird reduced their target price on Tenet Healthcare from $195.00 to $167.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Finally, UBS Group raised their target price on Tenet Healthcare from $230.00 to $238.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of "Moderate Buy" and an average target price of $191.56.

Tenet Healthcare Stock Up 0.5%

Shares of THC opened at $166.41 on Tuesday. The company has a market capitalization of $14.70 billion, a P/E ratio of 10.65, a PEG ratio of 0.71 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. Tenet Healthcare Corporation has a one year low of $109.82 and a one year high of $185.25. The business's 50 day simple moving average is $167.14 and its 200-day simple moving average is $147.62.

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

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.

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