Principal Securities Inc. Purchases New Shares in Tenet Healthcare Co. (NYSE:THC)

Principal Securities Inc. purchased a new stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,891 shares of the company's stock, valued at approximately $445,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in shares of Tenet Healthcare in the 4th quarter worth approximately $52,000. Sunbelt Securities Inc. purchased a new position in Tenet Healthcare during the third quarter valued at $67,000. USA Financial Formulas purchased a new stake in shares of Tenet Healthcare in the 3rd quarter worth about $92,000. SG Americas Securities LLC purchased a new position in Tenet Healthcare during the 3rd quarter valued at about $152,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Tenet Healthcare during the third quarter valued at approximately $155,000. Hedge funds and other institutional investors own 95.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on THC shares. Wells Fargo & Company increased their price target on Tenet Healthcare from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, March 28th. StockNews.com upgraded Tenet Healthcare from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 2nd. Stephens upped their target price on shares of Tenet Healthcare from $95.00 to $122.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 1st. Truist Financial reaffirmed a "buy" rating and issued a $130.00 price objective (up from $120.00) on shares of Tenet Healthcare in a research note on Wednesday, May 1st. Finally, UBS Group increased their price objective on Tenet Healthcare from $137.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tenet Healthcare has an average rating of "Buy" and an average target price of $113.19.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the transaction, the executive vice president now directly owns 29,803 shares of the company's stock, valued at approximately $2,889,698.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now owns 29,803 shares in the company, valued at $2,889,698.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nadja West sold 1,782 shares of Tenet Healthcare stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $126.41, for a total transaction of $225,262.62. Following the sale, the director now directly owns 29,680 shares in the company, valued at $3,751,848.80. The disclosure for this sale can be found here. Insiders sold 61,598 shares of company stock valued at $6,238,815 in the last quarter. Company insiders own 0.93% of the company's stock.

Tenet Healthcare Stock Performance

NYSE THC traded up $4.41 during trading on Wednesday, hitting $132.97. The company's stock had a trading volume of 1,188,956 shares, compared to its average volume of 1,224,219. The firm has a 50 day moving average price of $104.99 and a 200 day moving average price of $86.27. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The firm has a market cap of $12.99 billion, a P/E ratio of 5.11, a price-to-earnings-growth ratio of 1.28 and a beta of 2.09. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $133.16.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the company earned $1.42 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Tenet Healthcare Co. will post 8.73 earnings per share for the current fiscal 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.