Raymond James Financial Services Advisors Inc. Sells 5,126 Shares of Tenet Healthcare Co. (NYSE:THC)

Raymond James Financial Services Advisors Inc. reduced its holdings in shares of Tenet Healthcare Co. (NYSE:THC – Get Rating) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,141 shares of the company’s stock after selling 5,126 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.10% of Tenet Healthcare worth $5,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Tenet Healthcare by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,932,708 shares of the company’s stock valued at $939,775,000 after acquiring an additional 77,543 shares during the period. State Street Corp lifted its holdings in Tenet Healthcare by 2.4% in the first quarter. State Street Corp now owns 3,377,944 shares of the company’s stock valued at $290,368,000 after acquiring an additional 78,687 shares during the period. Samlyn Capital LLC lifted its holdings in Tenet Healthcare by 96.2% in the third quarter. Samlyn Capital LLC now owns 2,811,314 shares of the company’s stock valued at $145,007,000 after acquiring an additional 1,378,162 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Tenet Healthcare by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,180,627 shares of the company’s stock valued at $187,446,000 after acquiring an additional 415,945 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Tenet Healthcare by 15.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,955,734 shares of the company’s stock valued at $95,420,000 after acquiring an additional 268,395 shares during the period. 98.14% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on THC shares. Mizuho upped their price target on Tenet Healthcare from $78.00 to $81.00 in a research report on Tuesday. Barclays upped their price target on Tenet Healthcare from $70.00 to $105.00 in a research report on Wednesday, April 26th. UBS Group upped their price target on Tenet Healthcare from $47.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Wells Fargo & Company increased their target price on Tenet Healthcare from $59.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, February 17th. Finally, Raymond James increased their target price on Tenet Healthcare from $72.00 to $85.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare presently has an average rating of “Buy” and a consensus price target of $75.76.

Tenet Healthcare Price Performance

NYSE:THC opened at $73.17 on Friday. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 4.74 and a beta of 2.18. Tenet Healthcare Co. has a 1 year low of $36.69 and a 1 year high of $73.75. The business has a 50 day simple moving average of $63.62 and a 200-day simple moving average of $54.83. The company has a debt-to-equity ratio of 5.79, a current ratio of 1.39 and a quick ratio of 1.29.

Tenet Healthcare (NYSE:THC – Get Rating) last issued 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. Tenet Healthcare had a return on equity of 28.65% and a net margin of 2.13%. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the company earned $1.93 EPS. Tenet Healthcare’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts forecast that Tenet Healthcare Co. will post 5.69 EPS for the current year.

About Tenet Healthcare

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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.