Silverlake Wealth Management LLC Takes $223,000 Position in Tenet Healthcare Co. (NYSE:THC)

Silverlake Wealth Management LLC acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,120 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Tenet Healthcare in the 1st quarter worth about $29,000. GAMMA Investing LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter worth approximately $52,000. Sunbelt Securities Inc. purchased a new position in Tenet Healthcare during the 3rd quarter valued at $67,000. FinTrust Capital Advisors LLC increased its stake in Tenet Healthcare by 108.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after purchasing an additional 467 shares during the period. Finally, USA Financial Formulas bought a new stake in shares of Tenet Healthcare during the third quarter worth $92,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard W. Fisher sold 1,400 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $132.24, for a total value of $185,136.00. Following the completion of the transaction, the director now owns 16,227 shares of the company’s stock, valued at approximately $2,145,858.48. The sale was disclosed in a legal 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 stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the transaction, the director now directly owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 1,400 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $132.24, for a total transaction of $185,136.00. Following the sale, the director now directly owns 16,227 shares of the company’s stock, valued at approximately $2,145,858.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,691 shares of company stock valued at $3,117,909. 0.93% of the stock is owned by insiders.

Tenet Healthcare Stock Performance

Shares of Tenet Healthcare stock opened at $134.24 on Wednesday. The firm has a market capitalization of $13.11 billion, a P/E ratio of 5.21, a PEG ratio of 1.37 and a beta of 2.15. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $142.35. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The company has a 50 day moving average price of $128.58 and a 200 day moving average price of $103.59.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $112.00 price target on shares of Tenet Healthcare in a report on Tuesday. StockNews.com raised Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 7th. Wells Fargo & Company increased their price target on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Robert W. Baird initiated coverage on shares of Tenet Healthcare in a research note on Thursday, May 30th. They issued an “outperform” rating and a $153.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $121.18.

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.