Raymond James Financial Services Advisors Inc. Has $7.90 Million Stake in Tenet Healthcare Co. (NYSE:THC)

Raymond James Financial Services Advisors Inc. increased its position in shares of Tenet Healthcare Co. (NYSE:THCFree Report) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,577 shares of the company’s stock after buying an additional 4,075 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.10% of Tenet Healthcare worth $7,903,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its position in Tenet Healthcare by 14.6% during the first quarter. US Bancorp DE now owns 1,428 shares of the company’s stock worth $123,000 after purchasing an additional 182 shares during the period. HighTower Advisors LLC bought a new position in Tenet Healthcare during the first quarter worth $219,000. Natixis Advisors L.P. bought a new position in Tenet Healthcare during the first quarter worth $1,651,000. APG Asset Management N.V. bought a new position in Tenet Healthcare during the first quarter worth $1,769,000. Finally, Great West Life Assurance Co. Can boosted its position in Tenet Healthcare by 13.2% during the first quarter. Great West Life Assurance Co. Can now owns 63,273 shares of the company’s stock worth $5,604,000 after purchasing an additional 7,365 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $104.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, March 5th. Barclays assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $113.00 target price for the company. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, December 16th. Royal Bank of Canada boosted their target price on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, Truist Financial boosted their target price on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 9th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $97.56.

Get Our Latest Stock Report on Tenet Healthcare

Insider Activity

In other news, EVP Thomas W. Arnst sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $94.84, for a total value of $1,612,280.00. Following the completion of the transaction, the executive vice president now owns 8,148 shares of the company’s stock, valued at $772,756.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the sale, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at approximately $772,756.32. The disclosure for this sale can be found here. Insiders sold 51,268 shares of company stock valued at $4,944,810 over the last quarter. 1.70% of the stock is owned by company insiders.

Tenet Healthcare Stock Down 1.5 %

Shares of NYSE THC opened at $102.84 on Wednesday. The stock has a 50-day moving average price of $93.98 and a two-hundred day moving average price of $76.47. Tenet Healthcare Co. has a 12 month low of $51.04 and a 12 month high of $107.80. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 3.29 and a beta of 2.08.

Tenet Healthcare (NYSE:THCGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The company had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Tenet Healthcare Co. will post 6.09 earnings per share for the current fiscal year.

About Tenet Healthcare

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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