Global Assets Advisory LLC Makes New $1.77 Million Investment in Tenet Healthcare Co. (NYSE:THC)

Global Assets Advisory LLC bought a new position in shares of Tenet Healthcare Co. (NYSE:THC) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 16,807 shares of the company’s stock, valued at approximately $1,767,000.

Several other institutional investors also recently modified their holdings of THC. Rise Advisors LLC acquired a new position in shares of Tenet Healthcare during the 1st quarter worth about $29,000. GAMMA Investing LLC acquired a new position in shares of Tenet Healthcare during the 4th quarter worth about $52,000. Sunbelt Securities Inc. acquired a new position in shares of Tenet Healthcare during the 3rd quarter worth about $67,000. FinTrust Capital Advisors LLC grew its position in shares of Tenet Healthcare by 108.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after purchasing an additional 467 shares during the period. Finally, USA Financial Formulas acquired a new position in shares of Tenet Healthcare in the 3rd quarter valued at approximately $92,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on THC shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $104.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Wolfe Research upgraded Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price objective for the company in a research report on Wednesday, March 27th. Baird R W raised Tenet Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upped their price target on Tenet Healthcare from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Mizuho reaffirmed a “buy” rating and set a $130.00 price target (up previously from $118.00) on shares of Tenet Healthcare in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $120.41.

Tenet Healthcare Stock Down 0.8 %

THC opened at $134.93 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. The stock has a market cap of $13.18 billion, a PE ratio of 5.24, a price-to-earnings-growth ratio of 1.40 and a beta of 2.12. The stock’s fifty day simple moving average is $124.54 and its 200 day simple moving average is $101.45. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $142.35.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $1.45 by $1.77. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.42 EPS. As a group, research analysts expect that Tenet Healthcare Co. will post 8.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Nadja West sold 1,782 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $126.41, for a total transaction of $225,262.62. Following the sale, the director now directly owns 29,680 shares of the company’s stock, valued at approximately $3,751,848.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. Insiders have sold 24,691 shares of company stock worth $3,117,909 in the last 90 days. Company insiders own 0.93% 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.