Russell Investments Group Ltd. Purchases 142,419 Shares of Tenet Healthcare Co. (NYSE:THC)

Posted by on May 13th, 2023

Russell Investments Group Ltd. lifted its position in Tenet Healthcare Co. (NYSE:THC – Get Rating) by 182.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,531 shares of the company’s stock after acquiring an additional 142,419 shares during the quarter. Russell Investments Group Ltd. owned 0.20% of Tenet Healthcare worth $10,673,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Beacon Capital Management LLC purchased a new position in shares of Tenet Healthcare during the 4th quarter valued at approximately $27,000. Wipfli Financial Advisors LLC acquired a new position in Tenet Healthcare in the 3rd quarter valued at $31,000. Parkside Financial Bank & Trust raised its stake in Tenet Healthcare by 1,063.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock valued at $36,000 after purchasing an additional 383 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Tenet Healthcare in the 1st quarter worth $36,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter worth $64,000. 98.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

THC has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on Tenet Healthcare from $59.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, February 17th. JPMorgan Chase & Co. started coverage on Tenet Healthcare in a research report on Wednesday, April 19th. They set an “overweight” rating and a $72.00 price objective for the company. UBS Group raised their price objective on Tenet Healthcare from $47.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Deutsche Bank Aktiengesellschaft raised their price objective on Tenet Healthcare from $65.00 to $81.00 in a research report on Wednesday, April 26th. Finally, Mizuho raised their target price on Tenet Healthcare from $60.00 to $78.00 and gave the company a “buy” rating in a report on Friday, February 17th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $75.59.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Tammy Romo sold 7,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $60.95, for a total transaction of $426,650.00. Following the completion of the sale, the director now directly owns 57,598 shares in the company, valued at $3,510,598.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Tammy Romo sold 7,000 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $60.95, for a total value of $426,650.00. Following the completion of the sale, the director now owns 57,598 shares in the company, valued at $3,510,598.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas W. Arnst sold 825 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $61.00, for a total value of $50,325.00. Following the completion of the sale, the executive vice president now owns 22,778 shares of the company’s stock, valued at approximately $1,389,458. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Tenet Healthcare Stock Down 0.7 %

THC opened at $69.59 on Friday. The business’s fifty day moving average is $62.45 and its two-hundred day moving average is $54.02. The company has a debt-to-equity ratio of 5.79, a quick ratio of 1.29 and a current ratio of 1.39. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 4.82 and a beta of 2.18. Tenet Healthcare Co. has a one year low of $36.69 and a one year high of $73.77.

Tenet Healthcare (NYSE:THC – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.26. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.85 billion. Tenet Healthcare had a return on equity of 28.65% and a net margin of 2.13%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.93 earnings per share. Analysts anticipate that Tenet Healthcare Co. will post 5.64 EPS for the current fiscal year.

Tenet Healthcare Company Profile

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Tenet Healthcare Corp. engages in the provision of healthcare services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment is composed of acute care hospitals, ancillary outpatient facilities, urgent care centers, micro hospitals and physician practices.

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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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