Tenet Healthcare Co. (NYSE:THC) Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC boosted its position in Tenet Healthcare Co. (NYSE:THC) by 1.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,619 shares of the company’s stock after acquiring an additional 92 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Tenet Healthcare were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at approximately $190,819,000. Wealthfront Advisers LLC purchased a new stake in shares of Tenet Healthcare during the 4th quarter worth $69,059,000. Geode Capital Management LLC increased its holdings in shares of Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company’s stock valued at $339,893,000 after purchasing an additional 390,316 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Tenet Healthcare during the fourth quarter worth about $49,001,000. Finally, Victory Capital Management Inc. increased its holdings in Tenet Healthcare by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 507,055 shares of the company’s stock valued at $64,006,000 after buying an additional 206,907 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the transaction, the director now owns 27,378 shares in the company, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

THC opened at $120.23 on Friday. Tenet Healthcare Co. has a 1 year low of $90.03 and a 1 year high of $171.20. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The company’s 50 day simple moving average is $132.13 and its 200 day simple moving average is $141.54. The stock has a market capitalization of $11.44 billion, a PE ratio of 3.73, a P/E/G ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. As a group, sell-side analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on THC shares. Morgan Stanley initiated coverage on Tenet Healthcare in a report on Wednesday, March 26th. They issued an “overweight” rating and a $165.00 price target on the stock. The Goldman Sachs Group cut Tenet Healthcare from a “buy” rating to a “neutral” rating and dropped their price target for the company from $196.00 to $140.00 in a research report on Monday, December 16th. StockNews.com raised shares of Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. restated an “overweight” rating and set a $175.00 target price on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Finally, Barclays dropped their price objective on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.41.

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.