Tenet Healthcare Co. (NYSE:THC) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 300,527 shares of the company's stock after acquiring an additional 62,062 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.32% of Tenet Healthcare worth $40,421,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock valued at $268,591,000 after purchasing an additional 71,454 shares during the period. Norges Bank acquired a new position in Tenet Healthcare during the fourth quarter worth about $190,819,000. Dimensional Fund Advisors LP raised its stake in shares of Tenet Healthcare by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock worth $188,524,000 after buying an additional 272,906 shares during the last quarter. AQR Capital Management LLC lifted its stake in Tenet Healthcare by 20.8% in the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company's stock valued at $110,087,000 after buying an additional 150,361 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Tenet Healthcare by 22.0% in the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company's stock valued at $107,049,000 after purchasing an additional 152,671 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Down 4.5%

Shares of THC traded down $7.67 during mid-day trading on Monday, reaching $163.79. 634,233 shares of the stock traded hands, compared to its average volume of 1,514,030. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 5.08, a P/E/G ratio of 1.02 and a beta of 1.65. The stock has a fifty day simple moving average of $144.43 and a 200 day simple moving average of $136.91. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $174.14.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.15 billion. During the same period in the prior year, the company posted $3.22 EPS. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. Sell-side analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 9,786 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total transaction of $1,624,476.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James L. Bierman sold 13,836 shares of Tenet Healthcare stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $159.58, for a total value of $2,207,948.88. Following the completion of the transaction, the director now owns 41,435 shares of the company's stock, valued at $6,612,197.30. This trade represents a 25.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,646 shares of company stock valued at $10,041,025. 0.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on THC. Morgan Stanley upped their target price on Tenet Healthcare from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen lowered shares of Tenet Healthcare from a "buy" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company upgraded shares of Tenet Healthcare from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $150.00 to $195.00 in a report on Thursday, May 29th. Guggenheim assumed coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price target on the stock. Finally, Baird R W downgraded Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $180.18.

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.