Retirement Systems of Alabama Purchases 412 Shares of Tenet Healthcare Co. (NYSE:THC)

Retirement Systems of Alabama raised its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,189 shares of the company’s stock after acquiring an additional 412 shares during the quarter. Retirement Systems of Alabama’s holdings in Tenet Healthcare were worth $9,612,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Sector Gamma AS boosted its position in Tenet Healthcare by 22.3% during the 4th quarter. Sector Gamma AS now owns 193,279 shares of the company’s stock valued at $14,606,000 after acquiring an additional 35,304 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Tenet Healthcare by 1.6% in the 4th quarter. Russell Investments Group Ltd. now owns 195,386 shares of the company’s stock worth $14,766,000 after acquiring an additional 3,009 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in Tenet Healthcare in the 4th quarter worth $385,000. Bailard Inc. purchased a new position in shares of Tenet Healthcare during the 4th quarter valued at about $657,000. Finally, Yousif Capital Management LLC raised its stake in shares of Tenet Healthcare by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock valued at $3,236,000 after buying an additional 131 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare stock in a transaction on Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the transaction, the executive vice president now owns 8,148 shares in the company, valued at approximately $772,756.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the transaction, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paola M. Arbour sold 18,168 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 approximately $2,889,698.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,268 shares of company stock valued at $4,944,810. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Trading Up 2.6 %

Shares of THC opened at $118.96 on Friday. The firm’s fifty day moving average is $99.29 and its two-hundred day moving average is $81.68. The stock has a market cap of $11.62 billion, a PE ratio of 4.62, a price-to-earnings-growth ratio of 2.63 and a beta of 2.09. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $120.03.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. Tenet Healthcare’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 EPS. Research analysts forecast that Tenet Healthcare Co. will post 8.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on Tenet Healthcare from $109.00 to $136.00 and gave the company an “outperform” rating in a research note on Wednesday. Stephens lifted their price objective on Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday. UBS Group lifted their price objective on Tenet Healthcare from $137.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays lifted their price objective on Tenet Healthcare from $113.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Mizuho restated a “buy” rating and issued a $130.00 price target (up previously from $118.00) on shares of Tenet Healthcare in a research note on Wednesday. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tenet Healthcare presently has an average rating of “Buy” and an average target price of $113.19.

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.