275 Shares in Tenet Healthcare Co. (NYSE:THC) Purchased by Rise Advisors LLC

Rise Advisors LLC acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 275 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds have also bought and sold shares of THC. Pathstone Family Office LLC boosted its stake in Tenet Healthcare by 90.3% during the third quarter. Pathstone Family Office LLC now owns 4,374 shares of the company’s stock worth $288,000 after acquiring an additional 2,076 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Tenet Healthcare in the third quarter worth approximately $186,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Tenet Healthcare in the third quarter worth approximately $304,000. Envestnet Asset Management Inc. lifted its stake in shares of Tenet Healthcare by 33.8% in the third quarter. Envestnet Asset Management Inc. now owns 111,355 shares of the company’s stock worth $7,337,000 after buying an additional 28,132 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Tenet Healthcare by 117.8% in the third quarter. Hsbc Holdings PLC now owns 213,013 shares of the company’s stock worth $14,037,000 after buying an additional 115,194 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on THC shares. Barclays upped their target price on shares of Tenet Healthcare from $113.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $104.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Mizuho restated a “buy” rating and set a $130.00 price objective (up previously from $118.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Tenet Healthcare from $107.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, Baird R W upgraded shares of Tenet Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $120.41.

Tenet Healthcare Stock Performance

Shares of NYSE THC opened at $135.19 on Friday. The firm has a fifty day moving average price of $121.74 and a 200-day moving average price of $99.42. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.37. The stock has a market cap of $13.21 billion, a PE ratio of 5.25, a price-to-earnings-growth ratio of 1.39 and a beta of 2.12. Tenet Healthcare Co. has a 1 year low of $51.04 and a 1 year high of $142.35.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 earnings per share. Equities analysts anticipate that Tenet Healthcare Co. will post 8.74 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In related news, Director Christopher S. Lynch sold 10,861 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the completion of the transaction, the director now directly owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,500 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $123.20, for a total transaction of $308,000.00. Following the completion of the transaction, the director now owns 17,627 shares in the company, valued at $2,171,646.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher S. Lynch sold 10,861 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the completion of the sale, the director now owns 14,759 shares of the company’s stock, valued at approximately $1,975,196.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,691 shares of company stock valued at $3,117,909. Corporate insiders own 0.93% of the company’s stock.

Tenet Healthcare Company 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.