Tenet Healthcare Co. (NYSE:THC) Stock Position Lessened by Congress Park Capital LLC

Congress Park Capital LLC lowered its position in shares of Tenet Healthcare Co. (NYSE:THC) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,981 shares of the company’s stock after selling 350 shares during the quarter. Congress Park Capital LLC’s holdings in Tenet Healthcare were worth $1,890,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. 180 Wealth Advisors LLC acquired a new position in shares of Tenet Healthcare in the 1st quarter valued at $241,000. Atlas Capital Advisors LLC raised its stake in shares of Tenet Healthcare by 223.3% during the 1st quarter. Atlas Capital Advisors LLC now owns 8,872 shares of the company’s stock worth $933,000 after purchasing an additional 6,128 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter worth about $281,000. Global Assets Advisory LLC purchased a new stake in shares of Tenet Healthcare during the 1st quarter worth about $1,767,000. Finally, Park Avenue Securities LLC raised its stake in shares of Tenet Healthcare by 8.0% during the 1st quarter. Park Avenue Securities LLC now owns 13,255 shares of the company’s stock worth $1,393,000 after purchasing an additional 978 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the business’s 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 document filed with the SEC, which is accessible through the SEC website. In other news, Director Richard W. Fisher sold 1,400 shares of the company’s stock in a transaction 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 directly owns 16,227 shares in the company, valued at approximately $2,145,858.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,691 shares of company stock valued at $3,117,909. 0.93% of the stock is owned by insiders.

Tenet Healthcare Price Performance

Shares of NYSE:THC traded down $6.08 during midday trading on Friday, reaching $132.22. The company’s stock had a trading volume of 760,013 shares, compared to its average volume of 1,205,699. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $142.35. The company has a market capitalization of $12.92 billion, a P/E ratio of 5.17, a P/E/G ratio of 1.40 and a beta of 2.12. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.37. The business’s fifty day simple moving average is $126.28 and its 200-day simple moving average is $101.94.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter last year, the business earned $1.42 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that Tenet Healthcare Co. will post 8.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on THC shares. Robert W. Baird started coverage on Tenet Healthcare in a research note on Thursday, May 30th. They issued an “outperform” rating and a $153.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $104.00 target price on shares of Tenet Healthcare in a report on Wednesday, April 10th. Royal Bank of Canada raised their target price on Tenet Healthcare from $109.00 to $136.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. UBS Group raised their target price on Tenet Healthcare from $137.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Stephens raised their target price on Tenet Healthcare from $95.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $120.71.

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.