Russell Investments Group Ltd. Boosts Stake in Tenet Healthcare Co. (NYSE:THC)

Russell Investments Group Ltd. grew its position in Tenet Healthcare Co. (NYSE:THC) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 195,386 shares of the company’s stock after acquiring an additional 3,009 shares during the quarter. Russell Investments Group Ltd. owned 0.19% of Tenet Healthcare worth $14,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. GAMMA Investing LLC purchased a new stake in Tenet Healthcare during the fourth quarter valued at $52,000. Sunbelt Securities Inc. bought a new position in shares of Tenet Healthcare in the 3rd quarter valued at about $67,000. USA Financial Formulas purchased a new position in Tenet Healthcare in the third quarter worth about $92,000. SG Americas Securities LLC purchased a new stake in Tenet Healthcare during the third quarter valued at approximately $152,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $155,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays increased their price target on Tenet Healthcare from $113.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday. Stephens raised their target price on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday. StockNews.com upgraded shares of Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Thursday. Mizuho reissued a “buy” rating and issued a $130.00 price objective (up previously from $118.00) on shares of Tenet Healthcare in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $113.19.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the sale, the executive vice president now owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the sale, the executive vice president now owns 29,803 shares in the company, valued at $2,889,698.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,416 shares of company stock worth $5,890,793. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Up 1.1 %

Shares of THC stock opened at $120.28 on Friday. The stock’s fifty day moving average price is $99.82 and its 200 day moving average price is $81.94. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.42. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $121.72. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 4.67, a price-to-earnings-growth ratio of 1.20 and a beta of 2.09.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $1.77. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.42 earnings per share. On average, research analysts expect that Tenet Healthcare Co. will post 8.73 earnings per share for the current fiscal year.

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.