Dimensional Fund Advisors LP increased its position in Tenet Healthcare Co. (NYSE:THC – Get Rating) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,785,374 shares of the company’s stock after buying an additional 11,599 shares during the period. Dimensional Fund Advisors LP owned about 1.65% of Tenet Healthcare worth $87,104,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE raised its stake in Tenet Healthcare by 14.6% during the 1st quarter. US Bancorp DE now owns 1,428 shares of the company’s stock valued at $123,000 after purchasing an additional 182 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Tenet Healthcare by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the company’s stock worth $1,410,000 after buying an additional 200 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Tenet Healthcare by 0.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 28,800 shares of the company’s stock valued at $1,405,000 after acquiring an additional 245 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Tenet Healthcare by 1.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 14,480 shares of the company’s stock worth $706,000 after purchasing an additional 250 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Tenet Healthcare by 1.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 17,262 shares of the company’s stock valued at $842,000 after purchasing an additional 252 shares in the last quarter. 98.14% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. TheStreet raised Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Thursday, March 23rd. Barclays boosted their price target on shares of Tenet Healthcare from $70.00 to $105.00 in a research report on Wednesday, April 26th. Cantor Fitzgerald started coverage on shares of Tenet Healthcare in a research note on Thursday, April 20th. They issued an “overweight” rating and a $73.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Tenet Healthcare from $59.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, February 17th. Finally, JPMorgan Chase & Co. began coverage on Tenet Healthcare in a research note on Wednesday, April 19th. They set an “overweight” rating and a $72.00 price objective on the stock. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tenet Healthcare presently has a consensus rating of “Buy” and a consensus price target of $75.76.
Tenet Healthcare Stock Performance
Tenet Healthcare (NYSE:THC – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.93 EPS. As a group, equities analysts forecast that Tenet Healthcare Co. will post 5.69 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Tammy Romo sold 7,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 57,598 shares of the company’s stock, valued at approximately $3,510,598.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Tammy Romo sold 7,000 shares of Tenet Healthcare stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $60.95, for a total value of $426,650.00. Following the transaction, the director now owns 57,598 shares of the company’s stock, valued at approximately $3,510,598.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas W. Arnst sold 21,178 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $73.12, for a total transaction of $1,548,535.36. The disclosure for this sale can be found here. Insiders sold 29,003 shares of company stock valued at $2,025,510 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Tenet Healthcare Profile
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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