Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,075 Shares of Tenet Healthcare Co. (NYSE:THC)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tenet Healthcare Co. (NYSE:THC) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,041 shares of the company’s stock after acquiring an additional 1,075 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tenet Healthcare were worth $1,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in shares of Tenet Healthcare during the third quarter worth approximately $67,000. USA Financial Formulas acquired a new position in Tenet Healthcare in the third quarter valued at approximately $92,000. CWM LLC lifted its holdings in Tenet Healthcare by 49.8% in the third quarter. CWM LLC now owns 1,443 shares of the company’s stock valued at $95,000 after buying an additional 480 shares during the period. SG Americas Securities LLC acquired a new position in Tenet Healthcare in the third quarter valued at approximately $152,000. Finally, Neo Ivy Capital Management acquired a new position in Tenet Healthcare in the third quarter valued at approximately $155,000. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Down 0.8 %

Tenet Healthcare stock opened at $97.50 on Friday. The firm has a market capitalization of $9.67 billion, a PE ratio of 17.08, a P/E/G ratio of 3.13 and a beta of 2.08. The company’s 50-day moving average is $98.11 and its 200-day moving average is $80.17. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $107.80. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $1.58 by $1.10. The company had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. Tenet Healthcare’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. Sell-side analysts anticipate that Tenet Healthcare Co. will post 6.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on THC. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Royal Bank of Canada lifted their price target on shares of Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. TheStreet upgraded shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price objective on the stock in a report on Wednesday, March 27th. Finally, Barclays initiated coverage on shares of Tenet Healthcare in a report on Wednesday, March 6th. They set an “overweight” rating and a $113.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Buy” and a consensus target price of $100.38.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction dated 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 sale, the director now owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $94.84, for a total value of $1,612,280.00. Following the completion of the sale, the executive vice president now owns 8,148 shares of the company’s stock, valued at approximately $772,756.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,268 shares of company stock valued at $4,944,810. Company insiders own 0.93% of the company’s stock.

About Tenet Healthcare

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.