UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 42,025 Shares of Tenet Healthcare Co. (NYSE:THC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 18.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 264,055 shares of the company's stock after buying an additional 42,025 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.28% of Tenet Healthcare worth $33,332,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts have commented on THC shares. Morgan Stanley raised their price target on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. UBS Group raised their target price on Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. TD Cowen started coverage on Tenet Healthcare in a report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price target on the stock. Barclays raised their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada raised their target price on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.59.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 6,461 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $160.20, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director J Robert Kerrey sold 5,001 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the sale, the director now directly owns 22,377 shares of the company's stock, valued at approximately $3,322,984.50. The trade was a 18.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,072 shares of company stock worth $8,557,590. 0.81% of the stock is currently owned by company insiders.

Tenet Healthcare Trading Up 1.5%

NYSE THC traded up $2.56 on Friday, hitting $168.82. 2,250,200 shares of the stock were exchanged, compared to its average volume of 1,516,611. Tenet Healthcare Co. has a 52-week low of $109.82 and a 52-week high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The company has a market capitalization of $15.68 billion, a price-to-earnings ratio of 5.24, a P/E/G ratio of 1.02 and a beta of 1.63. The company's 50-day moving average price is $140.71 and its two-hundred day moving average price is $136.44.

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