Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Makes New $26,000 Investment in Tenet Healthcare Corporation (NYSE:THC)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Tenet Healthcare Corporation (NYSE:THC) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 192 shares of the company’s stock, valued at approximately $26,000.

Several other large investors also recently modified their holdings of THC. Truist Financial Corp increased its stake in shares of Tenet Healthcare by 1.6% during the 4th quarter. Truist Financial Corp now owns 12,407 shares of the company’s stock worth $1,566,000 after purchasing an additional 198 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Tenet Healthcare by 15.2% during the 4th quarter. Global Retirement Partners LLC now owns 878 shares of the company’s stock worth $111,000 after purchasing an additional 116 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Tenet Healthcare by 21.4% during the 4th quarter. IFP Advisors Inc now owns 4,503 shares of the company’s stock worth $568,000 after purchasing an additional 794 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $5,832,000. Finally, Versor Investments LP increased its stake in shares of Tenet Healthcare by 69.1% during the 4th quarter. Versor Investments LP now owns 9,200 shares of the company’s stock worth $1,161,000 after purchasing an additional 3,761 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

In other Tenet Healthcare news, Director James L. Bierman sold 13,836 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $159.58, for a total value of $2,207,948.88. Following the completion of the sale, the director now directly owns 41,435 shares of the company’s stock, valued at $6,612,197.30. The trade was a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas W. Arnst sold 9,786 shares of the business’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $166.00, for a total transaction of $1,624,476.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,121 shares of company stock valued at $8,846,305. Insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on THC shares. UBS Group raised their price target on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Robert W. Baird reiterated a “neutral” rating and issued a $137.00 price objective (down from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Wells Fargo & Company upgraded shares of Tenet Healthcare from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $150.00 to $195.00 in a research note on Thursday, May 29th. Wall Street Zen upgraded shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Sunday, June 15th. Finally, Stephens upgraded shares of Tenet Healthcare to a “strong-buy” rating in a research note on Monday, June 2nd. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.24.

Tenet Healthcare Stock Performance

NYSE THC opened at $173.64 on Friday. Tenet Healthcare Corporation has a 52-week low of $109.82 and a 52-week high of $177.32. 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 company has a market capitalization of $16.13 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.26 and a beta of 1.65. The company has a fifty day moving average of $157.06 and a 200-day moving average of $139.59.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data 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. Tenet Healthcare had a net margin of 7.09% and a return on equity of 22.58%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the previous year, the firm posted $3.22 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

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.