First Trust Advisors LP Purchases 31,815 Shares of Tenet Healthcare Co. (NYSE:THC)

First Trust Advisors LP raised its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 305,858 shares of the company's stock after purchasing an additional 31,815 shares during the quarter. First Trust Advisors LP owned 0.32% of Tenet Healthcare worth $38,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC raised its position in 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 purchasing an additional 84 shares in the last quarter. WR Wealth Planners LLC grew its position in 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 acquiring an additional 312 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake 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 valued at $59,000 after purchasing an additional 110 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Tenet Healthcare in the 4th quarter worth $60,000. Finally, Wilmington Savings Fund Society FSB increased its stake in Tenet Healthcare by 1,352.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after purchasing an additional 487 shares during the period. Institutional investors own 95.44% of the company's stock.

Tenet Healthcare Stock Up 3.4 %

Shares of NYSE THC traded up $4.67 during midday trading on Wednesday, hitting $143.02. The stock had a trading volume of 2,333,218 shares, compared to its average volume of 1,552,893. The company has a market cap of $13.50 billion, a P/E ratio of 4.44, a PEG ratio of 1.02 and a beta of 1.77. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The business's 50 day moving average is $126.55 and its 200-day moving average is $136.62. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating the consensus estimate of $3.11 by $1.25. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The company's revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $3.22 EPS. As a group, analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares of the company's stock, valued at $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

THC has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Wednesday. Truist Financial reduced their price objective on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. UBS Group lifted their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday. StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $167.06.

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.