Steph & Co. Has $156,000 Position in Tenet Healthcare Corporation (NYSE:THC)

Steph & Co. boosted its position in shares of Tenet Healthcare Corporation (NYSE:THC) by 153.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,159 shares of the company’s stock after purchasing an additional 701 shares during the period. Steph & Co.’s holdings in Tenet Healthcare were worth $156,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new position in Tenet Healthcare in the first quarter worth approximately $3,777,000. Whalen Wealth Management Inc. bought a new position in shares of Tenet Healthcare during the 1st quarter valued at $429,000. Cambridge Investment Research Advisors Inc. bought a new stake in Tenet Healthcare in the first quarter worth $212,000. Sivik Global Healthcare LLC increased its position in Tenet Healthcare by 27.3% during the first quarter. Sivik Global Healthcare LLC now owns 70,000 shares of the company’s stock worth $9,415,000 after buying an additional 15,000 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Tenet Healthcare by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 22,139 shares of the company’s stock worth $2,977,000 after buying an additional 290 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on THC. Morgan Stanley boosted their target price on Tenet Healthcare from $175.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, June 9th. UBS Group upped their price objective on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Royal Bank Of Canada boosted their target price 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. Truist Financial raised their price target on Tenet Healthcare from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Finally, Barclays boosted their price objective on Tenet Healthcare from $171.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, June 2nd. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $182.24.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $171.79 on Wednesday. Tenet Healthcare Corporation has a twelve month low of $109.82 and a twelve month high of $174.14. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.70 and a current ratio of 1.78. The firm has a market cap of $15.96 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.23 and a beta of 1.65. The firm’s 50-day simple moving average is $154.02 and its 200-day simple moving average is $138.92.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $1.25. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. Tenet Healthcare’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.22 EPS. As a group, research analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Insider Activity

In related news, EVP Paola M. Arbour sold 6,461 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $160.20, for a total transaction of $1,035,052.20. Following the completion of the sale, the executive vice president now directly owns 27,848 shares of the company’s stock, valued at $4,461,249.60. This trade represents a 18.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J Robert Kerrey sold 5,001 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the transaction, the director now directly owns 22,377 shares in the company, valued at approximately $3,322,984.50. This represents a 18.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,121 shares of company stock worth $8,846,305. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Company 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.