Leith Wheeler Investment Counsel Ltd. Boosts Position in Tenet Healthcare Co. (NYSE:THC)

Leith Wheeler Investment Counsel Ltd. boosted its holdings in shares of Tenet Healthcare Co. (NYSE:THC – Get Rating) by 76.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 145,125 shares of the company’s stock after buying an additional 62,850 shares during the quarter. Tenet Healthcare accounts for about 1.1% of Leith Wheeler Investment Counsel Ltd.’s portfolio, making the stock its 23rd largest holding. Leith Wheeler Investment Counsel Ltd. owned about 0.13% of Tenet Healthcare worth $7,081,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of THC. FMR LLC increased its holdings in Tenet Healthcare by 30.6% in the second quarter. FMR LLC now owns 6,940,816 shares of the company’s stock valued at $364,810,000 after buying an additional 1,625,431 shares in the last quarter. Samlyn Capital LLC raised its holdings in Tenet Healthcare by 96.2% in the 3rd quarter. Samlyn Capital LLC now owns 2,811,314 shares of the company’s stock worth $145,007,000 after purchasing an additional 1,378,162 shares during the period. Assenagon Asset Management S.A. grew its holdings in Tenet Healthcare by 170.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,687,339 shares of the company’s stock valued at $87,033,000 after purchasing an additional 1,063,338 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $34,146,000. Finally, Simcoe Capital Management LLC purchased a new stake in shares of Tenet Healthcare in the second quarter valued at approximately $28,690,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Tammy Romo sold 7,000 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $60.95, for a total value of $426,650.00. Following the transaction, the director now owns 57,598 shares of the company’s stock, valued at approximately $3,510,598.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Thomas W. Arnst sold 825 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $61.00, for a total transaction of $50,325.00. Following the transaction, the executive vice president now owns 22,778 shares of the company’s stock, valued at approximately $1,389,458. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Tammy Romo sold 7,000 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $60.95, for a total value of $426,650.00. Following the transaction, the director now directly owns 57,598 shares in the company, valued at approximately $3,510,598.10. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Tenet Healthcare Trading Down 3.2 %

NYSE THC traded down $1.82 on Friday, reaching $55.06. 2,064,389 shares of the company were exchanged, compared to its average volume of 1,476,104. The business’s fifty day moving average price is $55.84 and its 200 day moving average price is $51.38. The stock has a market capitalization of $5.63 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 3.10 and a beta of 2.14. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 6.07. Tenet Healthcare Co. has a fifty-two week low of $36.69 and a fifty-two week high of $92.65.

Tenet Healthcare (NYSE:THC – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.69. The company had revenue of $4.99 billion for the quarter, compared to analyst estimates of $4.94 billion. Tenet Healthcare had a return on equity of 32.88% and a net margin of 2.14%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.70 earnings per share. Analysts forecast that Tenet Healthcare Co. will post 5.15 earnings per share for the current year.

Wall Street Analyst Weigh In

THC has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on Tenet Healthcare from $47.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. Loop Capital boosted their price objective on Tenet Healthcare from $40.00 to $45.00 in a research report on Tuesday, December 6th. Stephens boosted their price objective on Tenet Healthcare from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 22nd. Mizuho boosted their price objective on Tenet Healthcare from $60.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Finally, StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a research report on Friday, March 10th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $69.47.

About Tenet Healthcare

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Tenet Healthcare Corp. engages in the provision of healthcare services. It operates through the following segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The Hospital Operations and Other segment is composed of acute care hospitals, ancillary outpatient facilities, urgent care centers, micro hospitals and physician practices.