Tenet Healthcare Co. (NYSE:THC) Stake Boosted by Ethic Inc.

Ethic Inc. grew its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 236.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,934 shares of the company's stock after buying an additional 4,872 shares during the quarter. Ethic Inc.'s holdings in Tenet Healthcare were worth $875,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in Tenet Healthcare by 9.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after purchasing an additional 80 shares in the last quarter. GeoWealth Management LLC grew 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 buying an additional 84 shares in the last quarter. Spire Wealth Management lifted its stake in Tenet Healthcare by 19.5% in the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after acquiring an additional 91 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Tenet Healthcare by 1.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company's stock worth $732,000 after acquiring an additional 92 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tenet Healthcare by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock valued at $1,024,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 95.44% of the company's stock.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 5,001 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the transaction, the director now owns 22,377 shares of the company's stock, valued at approximately $3,322,984.50. This represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.81% of the company's stock.

Tenet Healthcare Stock Up 1.0%

Tenet Healthcare stock opened at $159.32 on Thursday. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of 4.94, a P/E/G ratio of 1.02 and a beta of 1.63. The firm has a fifty day moving average price of $131.24 and a two-hundred day moving average price of $136.25. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $171.20. 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 (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping the consensus estimate of $3.11 by $1.25. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the business posted $3.22 EPS. The company's revenue for the quarter was down 2.5% on a year-over-year basis. As a group, analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Analyst Ratings Changes

THC has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. UBS Group increased their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Morgan Stanley upped their price target on shares of Tenet Healthcare from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Finally, Guggenheim assumed coverage on Tenet Healthcare in a research report on Wednesday, April 9th. They issued a "buy" rating and a $165.00 target price on the stock. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $174.94.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.