Whalen Wealth Management Inc. Takes Position in Tenet Healthcare Corporation (NYSE:THC)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp increased its holdings in shares of Tenet Healthcare by 1.6% during the 4th quarter. Truist Financial Corp now owns 12,407 shares of the company's stock worth $1,566,000 after buying an additional 198 shares during the last quarter. LPL Financial LLC increased its stake in Tenet Healthcare by 40.6% during the fourth quarter. LPL Financial LLC now owns 67,136 shares of the company's stock worth $8,475,000 after acquiring an additional 19,389 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Tenet Healthcare by 22.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock valued at $188,524,000 after purchasing an additional 272,906 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tenet Healthcare by 10.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,836 shares of the company's stock worth $1,115,000 after purchasing an additional 827 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Tenet Healthcare by 606.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,545 shares of the company's stock worth $340,000 after purchasing an additional 2,185 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

THC has been the subject of several research analyst reports. Robert W. Baird reaffirmed a "neutral" rating and set a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Barclays boosted 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. Stephens upgraded Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Morgan Stanley boosted their price objective on Tenet Healthcare from $175.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Finally, Royal Bank Of Canada raised their target price on Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $182.24.

Insider Activity

In related news, EVP Paola M. Arbour sold 6,461 shares of the stock in a transaction on Thursday, May 15th. The shares were 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 $4,461,249.60. This trade represents a 18.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 836 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $173.16, for a total transaction of $144,761.76. Following the completion of the transaction, the director now owns 11,292 shares of the company's stock, valued at $1,955,322.72. This represents a 6.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,121 shares of company stock worth $8,846,305. 0.81% of the stock is currently owned by insiders.

Tenet Healthcare Stock Up 2.2%

Tenet Healthcare stock traded up $3.64 during trading on Thursday, reaching $172.65. The stock had a trading volume of 1,505,095 shares, compared to its average volume of 1,863,523. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.23. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $177.32. The stock has a market cap of $16.04 billion, a PE ratio of 11.42, a P/E/G ratio of 1.23 and a beta of 1.65. The business has a 50 day moving average price of $156.01 and a 200 day moving average price of $139.35.

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

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.