Nisa Investment Advisors LLC reduced its position in shares of Tenet Healthcare Co. (NYSE:THC – Free Report) by 13.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,459 shares of the company’s stock after selling 555 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Tenet Healthcare were worth $206,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Beacon Capital Management LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at approximately $27,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Tenet Healthcare in the 1st quarter valued at $31,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Tenet Healthcare by 46.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 629 shares of the company’s stock worth $31,000 after buying an additional 199 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Tenet Healthcare by 1,063.9% in the first quarter. Parkside Financial Bank & Trust now owns 419 shares of the company’s stock valued at $36,000 after acquiring an additional 383 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Tenet Healthcare during the first quarter worth about $36,000. Institutional investors own 96.07% of the company’s stock.
Insiders Place Their Bets
In other news, EVP Thomas W. Arnst sold 21,178 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $73.12, for a total transaction of $1,548,535.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Paola M. Arbour sold 38,556 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $75.22, for a total value of $2,900,182.32. Following the sale, the executive vice president now directly owns 33,006 shares in the company, valued at approximately $2,482,711.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas W. Arnst sold 21,178 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $73.12, for a total transaction of $1,548,535.36. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Tenet Healthcare Price Performance
Shares of Tenet Healthcare stock opened at $76.80 on Wednesday. The company has a 50-day simple moving average of $77.19 and a two-hundred day simple moving average of $66.65. Tenet Healthcare Co. has a twelve month low of $36.69 and a twelve month high of $85.40. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 4.86 and a beta of 2.14. The company has a quick ratio of 1.29, a current ratio of 1.39 and a debt-to-equity ratio of 5.79.
Tenet Healthcare (NYSE:THC – Get Free Report) last issued its quarterly earnings results on Monday, July 31st. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.18. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.91 billion. Tenet Healthcare had a return on equity of 28.65% and a net margin of 2.13%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.50 earnings per share. Analysts forecast that Tenet Healthcare Co. will post 5.71 EPS for the current year.
Analysts Set New Price Targets
Several research analysts have weighed in on THC shares. Mizuho boosted their price target on Tenet Healthcare from $81.00 to $94.00 in a research report on Tuesday, July 11th. Truist Financial lifted their price objective on shares of Tenet Healthcare from $84.00 to $92.00 in a research report on Tuesday, June 20th. StockNews.com assumed coverage on shares of Tenet Healthcare in a research note on Thursday, May 18th. They issued a “buy” rating for the company. JPMorgan Chase & Co. initiated coverage on Tenet Healthcare in a research note on Wednesday, April 19th. They issued an “overweight” rating and a $72.00 price objective on the stock. Finally, Cantor Fitzgerald assumed coverage on Tenet Healthcare in a report on Thursday, April 20th. They set an “overweight” rating and a $73.00 target price on the stock. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $80.24.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates through three segments: Hospital Operations, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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