Bellevue Group AG Acquires 747 Shares of Tenet Healthcare Co. (NYSE:THC)

Bellevue Group AG grew its position in Tenet Healthcare Co. (NYSE:THC) by 106.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,447 shares of the company’s stock after buying an additional 747 shares during the quarter. Bellevue Group AG’s holdings in Tenet Healthcare were worth $109,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Yousif Capital Management LLC raised its stake in shares of Tenet Healthcare by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock valued at $3,236,000 after acquiring an additional 131 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Tenet Healthcare by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 8,685 shares of the company’s stock valued at $656,000 after acquiring an additional 145 shares during the last quarter. Xponance Inc. increased its holdings in shares of Tenet Healthcare by 1.2% in the fourth quarter. Xponance Inc. now owns 12,337 shares of the company’s stock valued at $932,000 after purchasing an additional 147 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Tenet Healthcare by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 44,328 shares of the company’s stock valued at $2,921,000 after purchasing an additional 220 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Tenet Healthcare by 4.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,829 shares of the company’s stock valued at $365,000 after purchasing an additional 221 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Christopher S. Lynch sold 10,861 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 14,759 shares of the company’s stock, valued at approximately $1,975,196.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Thomas W. Arnst sold 8,148 shares of the business’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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christopher S. Lynch sold 10,861 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the transaction, the director now owns 14,759 shares in the company, valued at $1,975,196.97. The disclosure for this sale can be found here. Insiders have sold 23,291 shares of company stock valued at $2,932,773 in the last three months. 0.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on THC. Mizuho reissued a “buy” rating and issued a $130.00 price target (up previously from $118.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Tenet Healthcare from $107.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Barclays raised their price target on shares of Tenet Healthcare from $113.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Baird R W raised shares of Tenet Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Wolfe Research raised shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 target price for the company in a report on Wednesday, March 27th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have given 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 target price of $120.41.

Tenet Healthcare Trading Up 3.0 %

THC opened at $137.76 on Tuesday. The stock has a market capitalization of $13.46 billion, a P/E ratio of 5.35, a P/E/G ratio of 1.37 and a beta of 2.12. Tenet Healthcare Co. has a 12 month low of $51.04 and a 12 month high of $138.12. The firm’s fifty day simple moving average is $116.69 and its 200 day simple moving average is $96.20. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the previous year, the firm posted $1.42 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Tenet Healthcare Co. will post 8.76 EPS for the current fiscal year.

About Tenet Healthcare

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.