Tenet Healthcare Co. (NYSE:THC) Stock Holdings Increased by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC grew its stake in Tenet Healthcare Co. (NYSE:THC) by 57.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,806 shares of the company’s stock after acquiring an additional 130,665 shares during the quarter. Tenet Healthcare comprises approximately 3.8% of Parkman Healthcare Partners LLC’s portfolio, making the stock its 5th biggest holding. Parkman Healthcare Partners LLC’s holdings in Tenet Healthcare were worth $26,964,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB lifted its position in shares of Tenet Healthcare by 324.3% in the fourth quarter. Nordea Investment Management AB now owns 40,066 shares of the company’s stock valued at $3,030,000 after acquiring an additional 30,623 shares in the last quarter. Hsbc Holdings PLC lifted its position in Tenet Healthcare by 113.0% during the fourth quarter. Hsbc Holdings PLC now owns 453,624 shares of the company’s stock worth $34,266,000 after buying an additional 240,611 shares during the period. First Light Asset Management LLC purchased a new position in Tenet Healthcare during the fourth quarter worth about $14,706,000. VitalStone Financial LLC purchased a new position in Tenet Healthcare during the fourth quarter worth about $451,000. Finally, Oliver Luxxe Assets LLC lifted its position in Tenet Healthcare by 11.1% during the fourth quarter. Oliver Luxxe Assets LLC now owns 19,529 shares of the company’s stock worth $1,476,000 after buying an additional 1,956 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Down 0.9 %

Shares of THC stock traded down $1.27 during trading hours on Thursday, reaching $139.48. The company had a trading volume of 855,327 shares, compared to its average volume of 1,214,443. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.37 and a current ratio of 1.44. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $142.35. The company has a market capitalization of $13.62 billion, a P/E ratio of 5.41, a price-to-earnings-growth ratio of 1.42 and a beta of 2.12. The stock’s fifty day simple moving average is $118.88 and its 200 day simple moving average is $97.28.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the firm earned $1.42 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts expect that Tenet Healthcare Co. will post 8.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, Director Richard W. Fisher sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $132.24, for a total transaction of $185,136.00. Following the completion of the sale, the director now owns 16,227 shares in the company, valued at approximately $2,145,858.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard W. Fisher sold 1,400 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $132.24, for a total value of $185,136.00. Following the transaction, the director now directly owns 16,227 shares in the company, valued at approximately $2,145,858.48. The disclosure for this sale can be found here. Insiders sold a total of 24,691 shares of company stock worth $3,117,909 in the last 90 days. 0.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on THC. Baird R W upgraded Tenet Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on Tenet Healthcare from $107.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Wells Fargo & Company upped their price target on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Royal Bank of Canada upped their price target on Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, UBS Group upped 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. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $120.41.

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.