Whalen Wealth Management Inc. Invests $429,000 in Tenet Healthcare Corporation (NYSE:THC)

Whalen Wealth Management Inc. acquired a new stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,192 shares of the company's stock, valued at approximately $429,000.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Tenet Healthcare by 9.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock valued at $119,000 after buying an additional 80 shares in the last quarter. GeoWealth Management LLC increased 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 acquiring an additional 84 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Tenet Healthcare by 1.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after purchasing an additional 92 shares in the last quarter. Prudential PLC grew its position in Tenet Healthcare by 0.7% in the 4th quarter. Prudential PLC now owns 15,344 shares of the company's stock valued at $1,937,000 after purchasing an additional 107 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after acquiring an additional 110 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

NYSE:THC opened at $168.12 on Monday. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $174.14. The business's fifty day moving average is $152.11 and its 200 day moving average is $138.48. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.70 and a current ratio of 1.78. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.23 and a beta of 1.65.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating 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 analyst estimates of $5.15 billion. During the same period last year, the business earned $3.22 earnings per share. Tenet Healthcare's revenue was down 2.5% compared to the same quarter last year. Research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on THC shares. UBS Group increased their price target on Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Morgan Stanley raised their price target on shares of Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Royal Bank Of Canada increased their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Guggenheim assumed coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They issued a "buy" rating and a $165.00 target price on the stock. Finally, Wells Fargo & Company raised Tenet Healthcare from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $150.00 to $195.00 in a research report on Thursday, May 29th. Three research 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $182.24.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of Tenet Healthcare stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the sale, the director now owns 22,377 shares of the company's stock, valued at $3,322,984.50. The trade was a 18.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paola M. Arbour sold 6,461 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the transaction, the executive vice president now directly owns 27,848 shares in the company, valued at $4,461,249.60. This trade represents a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,121 shares of company stock valued at $8,846,305. 0.81% of the stock is owned by corporate insiders.

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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