Victory Capital Management Inc. Acquires 229,197 Shares of Tenet Healthcare Corporation (NYSE:THC)

Victory Capital Management Inc. lifted its position in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 45.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 736,252 shares of the company's stock after purchasing an additional 229,197 shares during the period. Victory Capital Management Inc. owned about 0.78% of Tenet Healthcare worth $99,026,000 as of its most recent filing with the Securities and Exchange Commission.

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

Tenet Healthcare Stock Up 1.1%

Tenet Healthcare stock opened at $175.24 on Friday. Tenet Healthcare Corporation has a 12 month low of $109.82 and a 12 month high of $179.91. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.78 and a quick ratio of 1.70. The business has a 50 day simple moving average of $167.89 and a 200-day simple moving average of $143.75. The stock has a market capitalization of $16.28 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.26 and a beta of 1.64.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 7.09% and a return on equity of 22.58%. The company had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.15 billion. During the same quarter in the previous year, the business posted $3.22 earnings per share. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. On average, analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on THC. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Sunday, June 15th. Truist Financial set a $205.00 price target on Tenet Healthcare and gave the company a "buy" rating in a report on Wednesday. Stephens raised shares of Tenet Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Barclays lifted their target price on Tenet Healthcare from $171.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. Finally, Morgan Stanley upped their price target on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.41.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 3,077 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $165.72, for a total value of $509,920.44. Following the completion of the sale, the director directly owned 12,128 shares in the company, valued at $2,009,852.16. This represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James L. Bierman sold 13,836 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $159.58, for a total transaction of $2,207,948.88. Following the transaction, the director owned 41,435 shares of the company's stock, valued at approximately $6,612,197.30. This represents a 25.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock valued at $8,846,305 over the last 90 days. Corporate insiders own 0.81% of the company's stock.

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.

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