Tenet Healthcare Corporation (NYSE:THC) Shares Acquired by Vista Investment Partners II LLC

Vista Investment Partners II LLC increased its holdings in shares of Tenet Healthcare Corporation (NYSE:THC - Free Report) by 58.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,347 shares of the company's stock after purchasing an additional 5,314 shares during the period. Vista Investment Partners II LLC's holdings in Tenet Healthcare were worth $1,930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Tenet Healthcare in the first quarter worth $26,000. Colonial Trust Co SC grew its holdings in Tenet Healthcare by 85.7% in the fourth 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 last quarter. GeoWealth Management LLC grew its holdings in shares of Tenet Healthcare by 39.8% during the fourth 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 last quarter. WR Wealth Planners LLC grew its holdings in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after buying an additional 312 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after purchasing an additional 110 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Trading Up 0.6%

Shares of Tenet Healthcare stock traded up $1.08 during mid-day trading on Friday, hitting $173.64. The stock had a trading volume of 1,548,713 shares, compared to its average volume of 1,867,448. The firm has a 50-day moving average of $157.06 and a two-hundred day moving average of $139.58. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $177.32. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.23. The firm has a market cap of $16.13 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.27 and a beta of 1.65.

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

Insider Buying and Selling

In other Tenet Healthcare news, Director James L. Bierman sold 13,836 shares of the 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 sale, the director now directly owns 41,435 shares in the company, valued at $6,612,197.30. This represents a 25.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 directly owns 27,848 shares of the company's stock, valued at approximately $4,461,249.60. This represents a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,121 shares of company stock valued at $8,846,305. Company insiders own 0.81% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on THC. Royal Bank Of Canada upped their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. The Goldman Sachs Group upped their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Morgan Stanley upped their price target on shares of Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Finally, Barclays upped their price target on shares of Tenet Healthcare from $171.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $183.94.

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.