Tenet Healthcare Co. (NYSE:THC) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in shares of Tenet Healthcare Co. (NYSE:THC) by 8.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,236 shares of the company’s stock after acquiring an additional 3,869 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tenet Healthcare were worth $4,965,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Tenet Healthcare by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 731 shares of the company’s stock worth $77,000 after acquiring an additional 106 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Tenet Healthcare by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock worth $3,236,000 after acquiring an additional 131 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Tenet Healthcare by 1.7% during the 4th quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock worth $656,000 after acquiring an additional 145 shares in the last quarter. Xponance Inc. lifted its stake in Tenet Healthcare by 1.2% in the 4th quarter. Xponance Inc. now owns 12,337 shares of the company’s stock valued at $932,000 after buying an additional 147 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Tenet Healthcare by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 44,328 shares of the company’s stock valued at $2,921,000 after buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Up 0.3 %

NYSE THC traded up $0.44 during trading hours on Tuesday, hitting $133.74. The company had a trading volume of 47,655 shares, compared to its average volume of 1,213,704. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $142.35. The company has a market capitalization of $13.06 billion, a price-to-earnings ratio of 5.17, a P/E/G ratio of 1.37 and a beta of 2.15. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.37. The firm’s 50 day moving average is $127.85 and its 200 day moving average is $103.18.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period in the prior year, the firm earned $1.42 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Tenet Healthcare Co. will post 8.55 earnings per share for the current fiscal year.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, Director Christopher S. Lynch sold 10,861 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $133.83, for a total value of $1,453,527.63. Following the completion of the transaction, the director now directly owns 14,759 shares of the company’s stock, valued at approximately $1,975,196.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Tenet Healthcare news, Director Christopher S. Lynch sold 10,861 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $133.83, for a total value of $1,453,527.63. Following the completion of the transaction, the director now directly owns 14,759 shares of the company’s stock, valued at approximately $1,975,196.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas W. Arnst sold 8,148 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The disclosure for this sale can be found here. In the last three months, insiders sold 24,691 shares of company stock worth $3,117,909. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on THC shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $104.00 target price on shares of Tenet Healthcare in a research note on Wednesday, April 10th. JPMorgan Chase & Co. upped their target price on Tenet Healthcare from $107.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Stephens upped their target price on Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. UBS Group increased their price target on Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Barclays increased their price target on Tenet Healthcare from $113.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $120.71.

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.