Universal Beteiligungs und Servicegesellschaft mbH Reduces Position in Tenet Healthcare Corporation (NYSE:THC)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in Tenet Healthcare Corporation by 20.9%, owning 55,069 shares worth $7.4 million after selling 14,509 shares in the first quarter.
• Several analysts provided mixed ratings for Tenet Healthcare, with Baird R W downgrading the stock to a "hold" while Raymond James and Guggenheim raised price objectives, indicating the shares have a consensus rating of "Moderate Buy".
• Tenet Healthcare's recent quarterly earnings reported $4.02 EPS, surpassing expectations significantly, with revenue of $5.27 billion, a 3.2% increase compared to the previous year.

Universal Beteiligungs und Servicegesellschaft mbH trimmed its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 20.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,069 shares of the company's stock after selling 14,509 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.06% of Tenet Healthcare worth $7,407,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare during the first quarter valued at about $26,000. Wayfinding Financial LLC acquired a new position in Tenet Healthcare in the first quarter worth approximately $28,000. Colonial Trust Co SC boosted its stake in Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after purchasing an additional 114 shares during the period. GeoWealth Management LLC boosted its stake in shares of Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock valued at $37,000 after buying an additional 84 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Tenet Healthcare by 46.2% during the 1st quarter. Versant Capital Management Inc now owns 718 shares of the company's stock valued at $97,000 after purchasing an additional 227 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Richard W. Fisher sold 836 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total transaction of $144,761.76. Following the transaction, the director owned 11,292 shares in the company, valued at $1,955,322.72. The trade was a 6.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. Bierman sold 4,613 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $170.00, for a total transaction of $784,210.00. Following the transaction, the director owned 35,271 shares in the company, valued at $5,996,070. The trade was a 11.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock worth $8,846,305 over the last quarter. Insiders own 0.81% of the company's stock.

Tenet Healthcare Stock Performance

NYSE:THC traded up $4.94 during mid-day trading on Wednesday, reaching $161.00. 1,601,844 shares of the company's stock were exchanged, compared to its average volume of 1,662,578. The firm has a market capitalization of $14.96 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.63 and a current ratio of 1.71. The business's fifty day simple moving average is $167.68 and its two-hundred day simple moving average is $145.78. 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 announced its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $1.18. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The company had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same period in the previous year, the firm posted $2.31 EPS. The firm's revenue was up 3.2% on a year-over-year basis. Analysts anticipate that Tenet Healthcare Corporation will post 12.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

THC has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their target price on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Bank of America boosted their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Wolfe Research lowered shares of Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research report on Monday. Stephens raised shares of Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Finally, Morgan Stanley upped their target price on shares of Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Four 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $190.00.

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.