Teza Capital Management LLC Purchases 4,244 Shares of Tenet Healthcare Co. (NYSE:THC)

Teza Capital Management LLC lifted its position in Tenet Healthcare Co. (NYSE:THC) by 61.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,141 shares of the company’s stock after acquiring an additional 4,244 shares during the quarter. Teza Capital Management LLC’s holdings in Tenet Healthcare were worth $1,406,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in THC. Park Avenue Securities LLC grew its stake in shares of Tenet Healthcare by 14.9% in the 4th quarter. Park Avenue Securities LLC now owns 14,190 shares of the company’s stock worth $1,791,000 after acquiring an additional 1,837 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Tenet Healthcare by 41.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 8,731 shares of the company’s stock valued at $1,102,000 after buying an additional 2,544 shares during the period. SG Americas Securities LLC grew its position in Tenet Healthcare by 81.9% during the fourth quarter. SG Americas Securities LLC now owns 8,077 shares of the company’s stock valued at $1,020,000 after buying an additional 3,637 shares during the period. Inspire Investing LLC grew its position in Tenet Healthcare by 25.6% during the fourth quarter. Inspire Investing LLC now owns 6,496 shares of the company’s stock valued at $820,000 after buying an additional 1,326 shares during the period. Finally, Impact Partnership Wealth LLC bought a new position in Tenet Healthcare during the fourth quarter valued at about $338,000. Institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Paola M. Arbour sold 6,461 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the transaction, the executive vice president now directly owns 27,848 shares in the company, valued at $4,461,249.60. This trade represents a 18.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,987 shares of company stock valued at $2,972,421 over the last three months. 0.81% of the stock is owned by corporate insiders.

Tenet Healthcare Trading Up 0.9%

Shares of Tenet Healthcare stock opened at $165.55 on Monday. The company’s 50-day moving average price is $132.78 and its 200-day moving average price is $136.16. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 5.14, a PEG ratio of 1.02 and a beta of 1.63. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12-month low of $109.82 and a 12-month high of $171.20.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share 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 15.48% and a return on equity of 21.88%. Tenet Healthcare’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $3.22 earnings per share. On average, equities analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on THC. Guggenheim began coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They set a “buy” rating and a $165.00 price target for the company. UBS Group increased their price target on shares of Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley upped their price objective on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Royal Bank of Canada upped their price objective on shares of Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Finally, TD Cowen started coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and a consensus 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.