Bleakley Financial Group LLC Raises Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

Bleakley Financial Group LLC lifted its holdings in Tenet Healthcare Co. (NYSE:THC) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,159 shares of the company’s stock after buying an additional 5,198 shares during the quarter. Bleakley Financial Group LLC owned approximately 0.09% of Tenet Healthcare worth $6,889,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in Tenet Healthcare by 46.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock valued at $31,000 after acquiring an additional 199 shares in the last quarter. Belpointe Asset Management LLC boosted its position in Tenet Healthcare by 94.1% during the 1st quarter. Belpointe Asset Management LLC now owns 588 shares of the company’s stock valued at $35,000 after acquiring an additional 285 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Tenet Healthcare by 1,063.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock valued at $36,000 after acquiring an additional 383 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Tenet Healthcare during the 1st quarter valued at $36,000. Finally, Sunbelt Securities Inc. bought a new stake in Tenet Healthcare during the 3rd quarter valued at $67,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Performance

NYSE:THC traded down $0.24 during mid-day trading on Monday, reaching $101.94. The stock had a trading volume of 52,885 shares, compared to its average volume of 1,134,376. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.42 and a current ratio of 1.51. The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 3.20 and a beta of 2.08. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $107.80. The business has a 50 day simple moving average of $95.19 and a 200 day simple moving average of $77.15.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the firm earned $1.96 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts expect that Tenet Healthcare Co. will post 6.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on THC shares. TheStreet upgraded Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $104.00 target price on shares of Tenet Healthcare in a research report on Tuesday, March 5th. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, December 16th. Wells Fargo & Company boosted their target price on Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Mizuho upped their price objective on Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. One 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 stock. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Buy” and an average target price of $97.56.

Insider Transactions at Tenet Healthcare

In other news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $1,761,569.28. Following the completion of the sale, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock valued at $4,944,810 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

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.