VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2.51 Million Position in Tenet Healthcare Corporation $THC

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,271 shares of the company's stock, valued at approximately $2,512,000.

A number of other hedge funds also recently made changes to their positions in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Tenet Healthcare during the first quarter valued at approximately $26,000. Wayfinding Financial LLC acquired a new position in shares of Tenet Healthcare during the first quarter valued at approximately $28,000. SVB Wealth LLC acquired a new position in shares of Tenet Healthcare during the first quarter valued at approximately $30,000. N.E.W. Advisory Services LLC acquired a new position in shares of Tenet Healthcare during the first quarter valued at approximately $31,000. Finally, Brooklyn Investment Group increased its stake in shares of Tenet Healthcare by 908.7% during the first quarter. Brooklyn Investment Group now owns 232 shares of the company's stock valued at $31,000 after acquiring an additional 209 shares during the period. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Trading Up 0.1%

Tenet Healthcare stock opened at $202.35 on Wednesday. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $207.14. 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 firm has a market cap of $17.88 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 0.87 and a beta of 1.52. The firm's 50 day moving average price is $190.58 and its two-hundred day moving average price is $168.07.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $4.02 earnings per share for the quarter, topping 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 firm had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.16 billion. During the same period in the previous year, the company posted $2.31 EPS. The company's quarterly revenue was up 3.2% compared to the same quarter last year. On average, research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Lisa Y. Foo sold 8,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $179.53, for a total transaction of $1,436,240.00. Following the transaction, the executive vice president directly owned 20,878 shares in the company, valued at $3,748,227.34. The trade was a 27.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Saumya Sutaria sold 78,762 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total transaction of $15,026,214.36. Following the transaction, the chief executive officer owned 368,683 shares in the company, valued at approximately $70,337,342.74. This represents a 17.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,722 shares of company stock worth $17,161,015. Corporate insiders own 0.81% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on THC. Wall Street Zen upgraded shares of Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. boosted their target price on shares of Tenet Healthcare from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. KeyCorp lifted their price target on shares of Tenet Healthcare from $205.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. Guggenheim lifted their price target on shares of Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group started coverage on shares of Tenet Healthcare in a research report on Tuesday, October 14th. They issued a "buy" rating and a $224.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.25.

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.

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