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

Russell Investments Group Ltd. grew its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 195,386 shares of the company’s stock after buying an additional 3,009 shares during the period. Russell Investments Group Ltd.’s holdings in Tenet Healthcare were worth $14,766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of THC. GAMMA Investing LLC purchased a new position in shares of Tenet Healthcare in the 4th quarter valued at about $52,000. Sunbelt Securities Inc. purchased a new position in Tenet Healthcare in the third quarter valued at about $67,000. USA Financial Formulas acquired a new stake in shares of Tenet Healthcare during the 3rd quarter valued at approximately $92,000. SG Americas Securities LLC acquired a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $152,000. Finally, Neo Ivy Capital Management acquired a new position in Tenet Healthcare during the third quarter worth $155,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE:THC opened at $120.28 on Friday. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $121.72. The firm’s 50 day moving average is $99.82 and its two-hundred day moving average is $81.94. The company has a market cap of $11.75 billion, a P/E ratio of 4.67, a P/E/G ratio of 1.20 and a beta of 2.09. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58.

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

Insider Transactions at Tenet Healthcare

In related news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction 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 transaction, the executive vice president now owns 29,803 shares in the company, valued at approximately $2,889,698.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Richard J. Mark sold 14,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the sale, the director now directly owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 29,803 shares in the company, valued at approximately $2,889,698.88. The disclosure for this sale can be found here. Insiders sold 59,416 shares of company stock valued at $5,890,793 over the last 90 days. Corporate insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on THC. Stephens lifted their price target on Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday. UBS Group raised their price objective on shares of Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their target price on Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a report on Friday, April 12th. StockNews.com upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, TheStreet upgraded Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $113.19.

Tenet Healthcare 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.