Private Advisor Group LLC Purchases Shares of 6,564 Tenet Healthcare Co. (NYSE:THC)

Private Advisor Group LLC bought a new stake in Tenet Healthcare Co. (NYSE:THC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,564 shares of the company’s stock, valued at approximately $390,000.

Several other institutional investors have also bought and sold shares of THC. Norges Bank purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $65,580,000. Glenview Capital Management LLC boosted its stake in shares of Tenet Healthcare by 9.8% in the 4th quarter. Glenview Capital Management LLC now owns 8,896,111 shares of the company’s stock worth $434,041,000 after buying an additional 796,463 shares during the last quarter. Avidity Partners Management LP bought a new position in shares of Tenet Healthcare in the fourth quarter valued at approximately $34,997,000. Stonehill Capital Management LLC bought a new stake in Tenet Healthcare during the fourth quarter worth $20,947,000. Finally, Goldman Sachs Group Inc. boosted its position 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 worth $187,446,000 after purchasing an additional 415,945 shares during the last quarter. Institutional investors own 93.56% of the company’s stock.

Tenet Healthcare Trading Up 1.5 %

Shares of Tenet Healthcare stock opened at $78.70 on Monday. Tenet Healthcare Co. has a 1 year low of $36.69 and a 1 year high of $85.40. The company has a debt-to-equity ratio of 5.47, a current ratio of 1.44 and a quick ratio of 1.35. The firm has a market cap of $7.99 billion, a PE ratio of 17.30, a PEG ratio of 2.04 and a beta of 2.12. The company has a 50 day simple moving average of $77.09 and a two-hundred day simple moving average of $69.76.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Monday, July 31st. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.18. Tenet Healthcare had a net margin of 2.51% and a return on equity of 26.60%. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.91 billion. During the same period in the previous year, the business posted $1.50 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts expect that Tenet Healthcare Co. will post 5.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Tenet Healthcare from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Truist Financial increased their price objective on Tenet Healthcare from $84.00 to $92.00 in a report on Tuesday, June 20th. Stephens upped their price target on Tenet Healthcare from $87.00 to $89.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 1st. Credit Suisse Group upped their price objective on shares of Tenet Healthcare from $92.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Finally, UBS Group boosted their price target on shares of Tenet Healthcare from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. One equities research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $82.94.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.