Sherbrooke Park Advisers LLC Purchases New Stake in Tenet Healthcare Co. (NYSE:THC)

Sherbrooke Park Advisers LLC purchased a new position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,708 shares of the company's stock, valued at approximately $973,000.

Other institutional investors also recently modified their holdings of the company. Colonial Trust Co SC grew its holdings in Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company's stock valued at $31,000 after purchasing an additional 114 shares during the period. GeoWealth Management LLC grew its holdings 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 during the period. WR Wealth Planners LLC grew its holdings 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 purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC lifted its stake in Tenet Healthcare by 30.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock valued at $59,000 after buying an additional 110 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new position in Tenet Healthcare in the fourth quarter valued at approximately $60,000. Institutional investors and hedge funds own 95.44% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on THC shares. Guggenheim started coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price objective on the stock. StockNews.com raised shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Barclays upped their price target on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Bank of America upped their price target on shares of Tenet Healthcare from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Truist Financial upped their price target on shares of Tenet Healthcare from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $174.94.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 5,001 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the transaction, the director now owns 22,377 shares in the company, valued at $3,322,984.50. This trade represents a 18.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paola M. Arbour sold 6,461 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the completion of the transaction, the executive vice president now owns 27,848 shares of the company's stock, valued at approximately $4,461,249.60. This trade represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,987 shares of company stock valued at $2,972,421. 0.81% of the stock is currently owned by insiders.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded up $1.64 during trading hours on Monday, reaching $167.11. 1,795,336 shares of the stock were exchanged, compared to its average volume of 1,553,240. The company has a market cap of $15.52 billion, a P/E ratio of 5.18, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a twelve month low of $109.82 and a twelve month high of $171.20. The stock has a 50 day moving average of $133.70 and a two-hundred day moving average of $136.23.

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

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.