Principal Securities Inc. Takes Position in Tenet Healthcare Co. (NYSE:THC)

Principal Securities Inc. acquired a new stake in Tenet Healthcare Co. (NYSE:THCFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,891 shares of the company’s stock, valued at approximately $445,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Tenet Healthcare by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock valued at $720,671,000 after purchasing an additional 63,253 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Tenet Healthcare by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,043,214 shares of the company’s stock worth $78,836,000 after acquiring an additional 16,490 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Tenet Healthcare by 3.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 786,852 shares of the company’s stock worth $51,846,000 after acquiring an additional 25,077 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Tenet Healthcare by 5.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 447,145 shares of the company’s stock worth $29,462,000 after acquiring an additional 21,237 shares in the last quarter. Finally, Polar Capital Holdings Plc lifted its position in Tenet Healthcare by 211.8% during the 3rd quarter. Polar Capital Holdings Plc now owns 336,403 shares of the company’s stock worth $22,166,000 after acquiring an additional 228,508 shares in the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Trading Up 1.9 %

NYSE:THC opened at $128.53 on Wednesday. Tenet Healthcare Co. has a 12-month low of $51.04 and a 12-month high of $128.79. The firm has a market capitalization of $12.55 billion, a P/E ratio of 4.99, a P/E/G ratio of 1.28 and a beta of 2.09. 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 business has a 50 day simple moving average of $104.99 and a 200 day simple moving average of $86.27.

Tenet Healthcare (NYSE:THCGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the previous year, the firm posted $1.42 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts predict that Tenet Healthcare Co. will post 8.73 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on THC. Stephens boosted their price target on Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada lifted their price objective on Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a report on Friday, April 12th. StockNews.com upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $104.00 price objective on shares of Tenet Healthcare in a report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $113.19.

Get Our Latest Research Report on Tenet Healthcare

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the business’s 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 completion of the transaction, the executive vice president now owns 8,148 shares in the company, valued at approximately $772,756.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the business’s 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 completion of the transaction, the executive vice president now owns 8,148 shares in the company, valued at approximately $772,756.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nadja West sold 1,782 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $126.41, for a total value of $225,262.62. Following the completion of the sale, the director now owns 29,680 shares of the company’s stock, valued at approximately $3,751,848.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,598 shares of company stock worth $6,238,815. 0.93% of the stock is owned by company insiders.

About Tenet Healthcare

(Free Report)

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.

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Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

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