Yousif Capital Management LLC Buys 131 Shares of Tenet Healthcare Co. (NYSE:THC)

Yousif Capital Management LLC boosted its position in Tenet Healthcare Co. (NYSE:THC) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,825 shares of the company’s stock after purchasing an additional 131 shares during the quarter. Yousif Capital Management LLC’s holdings in Tenet Healthcare were worth $3,236,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Tenet Healthcare in the fourth quarter valued at approximately $52,000. Illinois Municipal Retirement Fund grew its stake in Tenet Healthcare by 40.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 16,709 shares of the company’s stock worth $1,263,000 after buying an additional 4,832 shares during the last quarter. abrdn plc purchased a new stake in Tenet Healthcare in the fourth quarter valued at about $11,265,000. Xponance Inc. boosted its holdings in Tenet Healthcare by 1.2% in the fourth quarter. Xponance Inc. now owns 12,337 shares of the company’s stock worth $932,000 after acquiring an additional 147 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tenet Healthcare by 5.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,041 shares of the company’s stock valued at $1,514,000 after acquiring an additional 1,075 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Barclays assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, March 6th. They set an “overweight” rating and a $113.00 target price on the stock. Royal Bank of Canada raised their target price on Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Wells Fargo & Company boosted their price target on Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $104.00 target price on shares of Tenet Healthcare in a report on Wednesday, April 10th. Finally, Truist Financial increased their price target on shares of Tenet Healthcare from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 9th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $100.38.

Insiders Place Their Bets

In other news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare 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 directly owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Paola M. Arbour sold 18,168 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. In the last three months, insiders sold 51,268 shares of company stock worth $4,944,810. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $96.13 on Monday. The firm has a market cap of $9.54 billion, a PE ratio of 16.84, a P/E/G ratio of 3.08 and a beta of 2.08. The business has a 50-day moving average price of $98.22 and a 200 day moving average price of $80.71. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 4.77. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $107.80.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. The company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.96 earnings per share. Sell-side analysts predict that Tenet Healthcare Co. will post 6.3 earnings per share for the current fiscal year.

About Tenet Healthcare

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.