UMB Bank n.a. Increases Stock Position in Tenet Healthcare Co. (NYSE:THC)

UMB Bank n.a. lifted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 95.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 819 shares of the company’s stock after acquiring an additional 401 shares during the period. UMB Bank n.a.’s holdings in Tenet Healthcare were worth $110,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Colonial Trust Co SC grew its position in shares of Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock worth $31,000 after acquiring an additional 114 shares during the last quarter. GeoWealth Management LLC lifted its holdings in shares of Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares during the period. WR Wealth Planners LLC lifted its holdings in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after purchasing an additional 110 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth $60,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

THC has been the subject of several recent research reports. Barclays increased their price target on Tenet Healthcare from $171.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, June 2nd. Baird R W downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Wall Street Zen downgraded Tenet Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. UBS Group raised their target price on Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Finally, Morgan Stanley raised their target price on Tenet Healthcare from $175.00 to $210.00 and gave the company an “overweight” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tenet Healthcare has an average rating of “Moderate Buy” and a consensus target price of $182.24.

Insider Buying and Selling at Tenet Healthcare

In other news, Director J Robert Kerrey sold 5,001 shares of Tenet Healthcare stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the transaction, the director now directly owns 22,377 shares of the company’s stock, valued at $3,322,984.50. The trade was a 18.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas W. Arnst sold 9,786 shares of Tenet Healthcare stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total value of $1,624,476.00. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock worth $8,846,305 in the last 90 days. 0.81% of the stock is owned by company insiders.

Tenet Healthcare Trading Up 2.5%

Tenet Healthcare stock opened at $165.38 on Friday. The stock has a market cap of $15.36 billion, a PE ratio of 5.13, a P/E/G ratio of 1.02 and a beta of 1.65. The stock has a 50-day moving average price of $147.19 and a 200 day moving average price of $137.52. Tenet Healthcare Co. has a 52 week low of $109.82 and a 52 week high of $174.14. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.22 EPS. Equities research analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

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.