Universal Beteiligungs und Servicegesellschaft mbH Invests $8.78 Million in Tenet Healthcare Co. (NYSE:THC)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Tenet Healthcare Co. (NYSE:THC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 69,578 shares of the company's stock, valued at approximately $8,783,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.07% of Tenet Healthcare at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC boosted its stake in Tenet Healthcare by 20.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 1,655 shares of the company's stock worth $209,000 after buying an additional 285 shares during the period. Blue Trust Inc. raised its position in Tenet Healthcare by 172.3% in the 4th quarter. Blue Trust Inc. now owns 689 shares of the company's stock worth $87,000 after purchasing an additional 436 shares during the period. KBC Group NV lifted its stake in Tenet Healthcare by 23.0% in the fourth quarter. KBC Group NV now owns 7,010 shares of the company's stock worth $885,000 after purchasing an additional 1,312 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Tenet Healthcare by 12.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,274 shares of the company's stock valued at $3,064,000 after buying an additional 2,618 shares during the last quarter. Finally, Swedbank AB lifted its stake in shares of Tenet Healthcare by 100.0% during the 4th quarter. Swedbank AB now owns 40,000 shares of the company's stock worth $5,049,000 after acquiring an additional 20,000 shares during the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

THC has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Morgan Stanley upped their target price on shares of Tenet Healthcare from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Guggenheim began coverage on Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price target for the company. Barclays raised their price objective on Tenet Healthcare from $171.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday. Finally, UBS Group upped their target price on Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $180.18.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the firm'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 transaction of $742,648.50. Following the completion of the transaction, the director now directly owns 22,377 shares of the company's stock, valued at approximately $3,322,984.50. This trade represents a 18.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James L. Bierman sold 13,836 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $159.58, for a total transaction of $2,207,948.88. Following the completion of the sale, the director now owns 41,435 shares in the company, valued at $6,612,197.30. The trade was a 25.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,072 shares of company stock worth $8,557,590 over the last three months. 0.81% of the stock is currently owned by insiders.

Tenet Healthcare Stock Up 0.8%

Tenet Healthcare stock traded up $1.41 during midday trading on Monday, reaching $170.18. The company's stock had a trading volume of 1,989,401 shares, compared to its average volume of 1,532,575. Tenet Healthcare Co. has a 52-week low of $109.82 and a 52-week high of $171.20. The stock has a market capitalization of $15.81 billion, a P/E ratio of 5.28, a PEG ratio of 1.02 and a beta of 1.63. 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 stock's 50-day simple moving average is $140.71 and its 200-day simple moving average is $136.26.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company 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 firm earned $3.22 EPS. Tenet Healthcare's revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current 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.