KBC Group NV Raises Position in Tenet Healthcare Corporation (NYSE:THC)

KBC Group NV grew its position in Tenet Healthcare Corporation (NYSE:THC) by 124.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,721 shares of the company’s stock after acquiring an additional 8,711 shares during the period. KBC Group NV’s holdings in Tenet Healthcare were worth $2,114,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Tenet Healthcare during the first quarter worth about $26,000. Colonial Trust Co SC boosted its holdings in Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock worth $31,000 after buying an additional 114 shares in the last quarter. GeoWealth Management LLC boosted its holdings in Tenet Healthcare by 39.8% during the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after buying an additional 84 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after buying an additional 110 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Tenet Healthcare by 46.2% during the first quarter. Versant Capital Management Inc now owns 718 shares of the company’s stock worth $97,000 after acquiring an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Sunday, June 15th. Morgan Stanley lifted their target price on shares of Tenet Healthcare from $175.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. Guggenheim assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They set a “buy” rating and a $165.00 target price for the company. Stephens upgraded shares of Tenet Healthcare to a “strong-buy” rating in a research report on Monday, June 2nd. Finally, Barclays boosted their price objective on shares of Tenet Healthcare from $171.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.94.

Tenet Healthcare Price Performance

THC opened at $171.50 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.23. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $178.76. The company has a 50 day moving average of $161.59 and a two-hundred day moving average of $140.63. The company has a market cap of $15.93 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.26 and a beta of 1.64.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $1.25. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a net margin of 7.09% and a return on equity of 22.58%. Tenet Healthcare’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.22 earnings per share. On average, analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 9,786 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total transaction of $1,624,476.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paola M. Arbour sold 7,738 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $173.00, for a total transaction of $1,338,674.00. Following the transaction, the executive vice president directly owned 20,110 shares of the company’s stock, valued at approximately $3,479,030. This represents a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,121 shares of company stock valued at $8,846,305. Corporate insiders own 0.81% 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.