Xponance Inc. Grows Holdings in Tenet Healthcare Corporation (NYSE:THC)

Xponance Inc. raised its position in Tenet Healthcare Corporation (NYSE:THC) by 1.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,053 shares of the company’s stock after buying an additional 124 shares during the period. Xponance Inc.’s holdings in Tenet Healthcare were worth $1,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in THC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare in the first quarter valued at about $26,000. Wayfinding Financial LLC acquired a new stake in shares of Tenet Healthcare in the first quarter valued at about $28,000. Colonial Trust Co SC grew its position in shares of Tenet Healthcare by 85.7% in the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after purchasing an additional 114 shares during the period. GeoWealth Management LLC grew its position in shares of Tenet Healthcare by 39.8% in the fourth quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock valued at $37,000 after purchasing an additional 84 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Tenet Healthcare by 46.2% in the first quarter. Versant Capital Management Inc now owns 718 shares of the company’s stock valued at $97,000 after purchasing an additional 227 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director James L. Bierman sold 4,613 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $170.00, for a total transaction of $784,210.00. Following the sale, the director directly owned 35,271 shares of the company’s stock, valued at $5,996,070. This represents a 11.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paola M. Arbour sold 7,738 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 20,110 shares in the company, valued at approximately $3,479,030. The trade was 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 worth $8,846,305. Insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $137.00 target price (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Wall Street Zen upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Sunday, June 15th. Truist Financial boosted their price target on shares of Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Royal Bank Of Canada boosted their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Finally, Baird R W lowered shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.53.

Tenet Healthcare Price Performance

Tenet Healthcare stock opened at $172.82 on Wednesday. The company’s 50 day simple moving average is $166.94 and its 200-day simple moving average is $143.19. The company has a market capitalization of $16.05 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.30 and a beta of 1.64. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $179.91. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $1.25. The business had revenue of $5.22 billion for 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%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.22 EPS. As a group, equities research analysts expect that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

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.