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

Northern Trust Corp raised its holdings in Tenet Healthcare Co. (NYSE:THC) by 22.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 0.89% of Tenet Healthcare worth $107,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. GeoWealth Management LLC grew its holdings in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after buying an additional 84 shares during the last quarter. WR Wealth Planners LLC boosted its stake in shares of 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 acquiring an additional 312 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $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 valued at about $60,000. Finally, Wilmington Savings Fund Society FSB grew 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 worth $66,000 after buying an additional 487 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on THC shares. Baird R W lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. UBS Group lifted their price objective on Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $177.00 price target on shares of Tenet Healthcare in a research note on Thursday, February 13th. Guggenheim assumed coverage on shares of Tenet Healthcare in a report on Wednesday, April 9th. They set a “buy” rating and a $165.00 price objective on the stock. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $172.19.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $148.21 on Friday. The company has a market capitalization of $13.99 billion, a price-to-earnings ratio of 4.60, a PEG ratio of 1.02 and a beta of 1.77. 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 business has a 50-day moving average of $127.09 and a 200-day moving average of $136.28.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $1.25. The company had revenue of $5.22 billion during 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%. Tenet Healthcare’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $3.22 earnings per share. On average, equities analysts anticipate that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.81% of the stock is currently owned by company insiders.

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.