MML Investors Services LLC Buys 7,877 Shares of Tenet Healthcare Co. (NYSE:THC)

MML Investors Services LLC boosted its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 69.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 19,286 shares of the company's stock after purchasing an additional 7,877 shares during the period. MML Investors Services LLC's holdings in Tenet Healthcare were worth $2,434,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. GeoWealth Management LLC increased its position in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after acquiring an additional 84 shares during the period. WR Wealth Planners LLC raised its position in Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after purchasing 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 during the last quarter. Kestra Investment Management LLC acquired a new stake in Tenet Healthcare during the fourth quarter worth approximately $60,000. Finally, Wilmington Savings Fund Society FSB increased its stake in Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock valued at $66,000 after purchasing an additional 487 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on THC. KeyCorp dropped their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Truist Financial decreased their price objective on Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a report on Monday, January 6th. TD Cowen assumed coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 target price on the stock. Robert W. Baird restated a "neutral" rating and set a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Finally, Morgan Stanley began coverage on shares of Tenet Healthcare in a research note on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $172.19.

Tenet Healthcare Stock Performance

Shares of NYSE THC traded up $2.92 during midday trading on Friday, hitting $148.21. The company's stock had a trading volume of 1,467,131 shares, compared to its average volume of 1,559,298. Tenet Healthcare Co. has a one year low of $109.82 and a one year high of $171.20. The firm has a market capitalization of $13.99 billion, a price-to-earnings ratio of 4.60, a P/E/G ratio of 1.02 and a beta of 1.77. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The stock has a fifty day moving average price of $127.09 and a 200 day moving average price of $136.47.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping analysts' consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company earned $3.22 earnings per share. On average, research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction 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 in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.