28,500 Shares in Tenet Healthcare Co. (NYSE:THC) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Tenet Healthcare Co. (NYSE:THC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 28,500 shares of the company's stock, valued at approximately $2,154,000.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its stake in Tenet Healthcare by 14.7% in the first quarter. BlackRock Inc. now owns 11,639,373 shares of the company's stock valued at $691,612,000 after acquiring an additional 1,491,799 shares during the last quarter. Norges Bank bought a new position in Tenet Healthcare in the fourth quarter valued at $65,580,000. Stonehill Capital Management LLC purchased a new stake in Tenet Healthcare in the fourth quarter worth approximately $20,947,000. Goldman Sachs Group Inc. increased its holdings in shares of Tenet Healthcare by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,180,627 shares of the company's stock worth $187,446,000 after buying an additional 415,945 shares during the period. Finally, BW Gestao de Investimentos Ltda. grew its holdings in Tenet Healthcare by 288.4% in the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 468,871 shares of the company's stock worth $30,894,000 after acquiring an additional 348,151 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Analyst Upgrades and Downgrades

THC has been the subject of several recent research reports. Wolfe Research raised Tenet Healthcare from a "peer perform" rating to an "outperform" rating and set a $122.00 price objective for the company in a research report on Wednesday, March 27th. TheStreet raised shares of Tenet Healthcare from a "c+" rating to a "b-" rating in a research note on Tuesday, February 6th. Mizuho lifted their price objective on shares of Tenet Healthcare from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, February 9th. Truist Financial upped their price objective on Tenet Healthcare from $92.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Tenet Healthcare from $100.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, April 12th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tenet Healthcare currently has an average rating of "Buy" and an average target price of $100.38.

Insider Activity at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the business's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now owns 20,127 shares in the company, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock worth $4,944,810 in the last 90 days. 1.30% of the stock is owned by company insiders.

Tenet Healthcare Stock Performance

Shares of NYSE THC traded down $4.95 during midday trading on Thursday, hitting $91.05. The company's stock had a trading volume of 2,381,408 shares, compared to its average volume of 1,133,179. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $107.80. The firm has a market cap of $9.03 billion, a P/E ratio of 15.95, a P/E/G ratio of 3.15 and a beta of 2.08. The firm's fifty day moving average price is $97.37 and its 200-day moving average price is $79.00. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm earned $1.96 earnings per share. The company's revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Tenet Healthcare Co. will post 6.3 EPS for the current fiscal year.

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.