Barclays PLC Purchases 69,867 Shares of Tenet Healthcare Co. (NYSE:THC)

Barclays PLC increased its position in shares of Tenet Healthcare Co. (NYSE:THC) by 50.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 208,733 shares of the company’s stock after purchasing an additional 69,867 shares during the period. Barclays PLC’s holdings in Tenet Healthcare were worth $26,348,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in THC. EverSource Wealth Advisors LLC increased 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 valued at $119,000 after purchasing an additional 80 shares during the period. Spire Wealth Management increased its holdings in Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company’s stock valued at $70,000 after buying an additional 91 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Tenet Healthcare by 1.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,619 shares of the company’s stock worth $732,000 after buying an additional 92 shares during the period. 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 acquiring an additional 100 shares during the period. Finally, Prudential PLC raised its position in shares of Tenet Healthcare by 0.7% in the 4th quarter. Prudential PLC now owns 15,344 shares of the company’s stock worth $1,937,000 after acquiring an additional 107 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on 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 sale, the director now directly owns 27,378 shares of the company’s stock, valued at $3,434,022.54. The trade was a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Performance

Shares of THC stock opened at $121.47 on Friday. The stock has a market cap of $11.55 billion, a PE ratio of 3.77, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 52-week low of $90.03 and a 52-week high of $171.20. The business has a 50-day simple moving average of $127.88 and a 200-day simple moving average of $138.31. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. On average, equities analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Wall Street Analysts Forecast Growth

THC has been the subject of a number of recent research reports. Baird R W downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a research report on Thursday, February 13th. Morgan Stanley started coverage on Tenet Healthcare in a research report on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price target on the stock. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Finally, KeyCorp decreased their price target on Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Tenet Healthcare presently has an average rating of “Moderate Buy” and an average price target of $165.44.

Tenet Healthcare Company 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.