Lazard Asset Management LLC Purchases 61,720 Shares of Tenet Healthcare Co. (NYSE:THC)

Lazard Asset Management LLC grew its position in Tenet Healthcare Co. (NYSE:THC) by 745.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,995 shares of the company’s stock after acquiring an additional 61,720 shares during the period. Lazard Asset Management LLC owned 0.07% of Tenet Healthcare worth $8,834,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Humankind Investments LLC raised its stake in shares of Tenet Healthcare by 6.5% in the fourth quarter. Humankind Investments LLC now owns 3,166 shares of the company’s stock valued at $400,000 after acquiring an additional 194 shares during the last quarter. Gotham Asset Management LLC raised its position in Tenet Healthcare by 58.1% in the 4th quarter. Gotham Asset Management LLC now owns 114,181 shares of the company’s stock worth $14,413,000 after purchasing an additional 41,978 shares during the last quarter. Graham Capital Management L.P. raised its position in Tenet Healthcare by 59.4% in the 4th quarter. Graham Capital Management L.P. now owns 30,395 shares of the company’s stock worth $3,837,000 after purchasing an additional 11,321 shares during the last quarter. Focus Partners Wealth raised its position in Tenet Healthcare by 125.1% in the 4th quarter. Focus Partners Wealth now owns 5,002 shares of the company’s stock worth $631,000 after purchasing an additional 2,780 shares during the last quarter. Finally, Ethic Inc. raised its position in Tenet Healthcare by 236.3% in the 4th quarter. Ethic Inc. now owns 6,934 shares of the company’s stock worth $875,000 after purchasing an additional 4,872 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

Shares of THC stock opened at $159.32 on Thursday. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of 4.94, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $171.20. The firm has a fifty day moving average of $131.24 and a 200-day moving average of $136.25. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating the consensus estimate of $3.11 by $1.25. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.22 EPS. On average, equities research analysts forecast that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

Insider Activity at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the sale, the director now directly owns 27,378 shares of the company’s stock, valued at approximately $3,434,022.54. The trade was a 25.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

THC has been the subject of several research analyst reports. TD Cowen initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective for the company. Guggenheim began coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $177.00 target price on shares of Tenet Healthcare in a report on Thursday, February 13th. Barclays lifted their target price on shares of Tenet Healthcare from $161.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group lifted their target price on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.94.

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.