UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Tenet Healthcare Co. (NYSE:THC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tenet Healthcare Co. (NYSE:THC) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,055 shares of the company’s stock after buying an additional 42,025 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Tenet Healthcare were worth $33,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Colonial Trust Co SC increased its position in shares of Tenet Healthcare by 85.7% during the fourth quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after acquiring an additional 114 shares during the last quarter. GeoWealth Management LLC grew its holdings 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 in the last quarter. WR Wealth Planners LLC grew its holdings in Tenet Healthcare by 2,836.4% during the 4th quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after acquiring an additional 312 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Tenet Healthcare by 30.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company’s stock worth $59,000 after acquiring an additional 110 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Tenet Healthcare during the 4th quarter worth approximately $60,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have 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 objective for the company. Baird R W downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. UBS Group upped 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. Barclays upped their price target on shares of Tenet Healthcare from $161.00 to $171.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group upped their price target on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $174.94.

Tenet Healthcare Stock Performance

NYSE:THC opened at $163.05 on Tuesday. The stock has a market cap of $15.14 billion, a PE ratio of 5.06, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $171.20. The firm’s fifty day simple moving average is $137.60 and its 200-day simple moving average is $136.20. 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 issued its quarterly earnings data on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $1.25. The firm 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% on a year-over-year basis. During the same period in the prior year, the company earned $3.22 EPS. Analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 9,786 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total value of $1,624,476.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J Robert Kerrey sold 5,001 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total transaction of $742,648.50. Following the completion of the transaction, the director now owns 22,377 shares in the company, valued at approximately $3,322,984.50. This trade represents a 18.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,773 shares of company stock valued at $4,596,897. 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.