Tenet Healthcare Co. (NYSE:THC) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 22.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 848,049 shares of the company's stock after purchasing an additional 152,671 shares during the period. Northern Trust Corp owned approximately 0.89% of Tenet Healthcare worth $107,049,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of THC. GeoWealth Management LLC raised its holdings in shares of 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 acquiring an additional 84 shares in the last quarter. WR Wealth Planners LLC grew its stake in shares of Tenet Healthcare by 2,836.4% in the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock worth $41,000 after acquiring an additional 312 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Tenet Healthcare by 30.5% during 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 approximately $60,000. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of Tenet Healthcare by 1,352.8% during 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. 95.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on THC shares. Barclays raised their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Royal Bank of Canada lifted their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. The Goldman Sachs Group increased their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a "neutral" rating in a report on Monday. Guggenheim began coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $173.69.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.81% of the company's stock.

Tenet Healthcare Stock Performance

THC stock traded up $0.68 during trading on Wednesday, hitting $152.16. 1,244,286 shares of the company traded hands, compared to its average volume of 1,551,921. The stock's 50-day simple moving average is $127.86 and its 200 day simple moving average is $136.11. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. Tenet Healthcare Co. has a 1 year low of $109.82 and a 1 year high of $171.20. The company has a market cap of $14.13 billion, a PE ratio of 4.72, a P/E/G ratio of 1.02 and a beta of 1.63.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share 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 business's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.22 earnings per share. On average, equities analysts expect that Tenet Healthcare Co. will post 12.24 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.