Tower Research Capital LLC TRC Has $1 Million Holdings in Tenet Healthcare Co. (NYSE:THC)

Tower Research Capital LLC TRC boosted its position in Tenet Healthcare Co. (NYSE:THC - Free Report) by 339.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,941 shares of the company's stock after purchasing an additional 6,136 shares during the quarter. Tower Research Capital LLC TRC's holdings in Tenet Healthcare were worth $1,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of THC. MML Investors Services LLC grew its stake in Tenet Healthcare by 69.0% in the 4th quarter. MML Investors Services LLC now owns 19,286 shares of the company's stock worth $2,434,000 after acquiring an additional 7,877 shares during the period. MetLife Investment Management LLC increased its stake in Tenet Healthcare by 8.3% in the fourth quarter. MetLife Investment Management LLC now owns 53,607 shares of the company's stock valued at $6,767,000 after purchasing an additional 4,093 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Tenet Healthcare by 41.6% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 171,676 shares of the company's stock valued at $21,671,000 after acquiring an additional 50,421 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Tenet Healthcare by 22.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company's stock worth $188,524,000 after acquiring an additional 272,906 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Tenet Healthcare by 11.6% during the fourth quarter. First Trust Advisors LP now owns 305,858 shares of the company's stock worth $38,608,000 after purchasing an additional 31,815 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on THC shares. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. UBS Group boosted their price objective on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday. Cantor Fitzgerald reissued an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research report on Thursday, February 13th. KeyCorp dropped their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, Guggenheim began coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $166.17.

Insider Activity at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.81% of the company's stock.

Tenet Healthcare Stock Performance

NYSE:THC traded up $0.06 during mid-day trading on Wednesday, hitting $138.41. The stock had a trading volume of 648,830 shares, compared to its average volume of 1,531,597. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. The company has a 50 day simple moving average of $126.28 and a 200-day simple moving average of $136.58. The stock has a market capitalization of $13.06 billion, a price-to-earnings ratio of 4.29, a P/E/G ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $171.20.

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