M&G Plc Purchases New Holdings in Tenet Healthcare Co. (NYSE:THC)

M&G Plc purchased a new stake in shares of Tenet Healthcare Co. (NYSE:THC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 84,270 shares of the company’s stock, valued at approximately $8,848,000. M&G Plc owned about 0.09% of Tenet Healthcare as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Banco Santander S.A. acquired a new position in Tenet Healthcare during the first quarter valued at approximately $448,000. Bleakley Financial Group LLC lifted its position in shares of Tenet Healthcare by 5.4% in the first quarter. Bleakley Financial Group LLC now owns 96,067 shares of the company’s stock valued at $10,098,000 after buying an additional 4,908 shares during the last quarter. Qsemble Capital Management LP lifted its position in shares of Tenet Healthcare by 65.4% in the first quarter. Qsemble Capital Management LP now owns 7,076 shares of the company’s stock valued at $744,000 after buying an additional 2,797 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Tenet Healthcare in the first quarter valued at approximately $276,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Tenet Healthcare in the first quarter valued at approximately $410,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tenet Healthcare news, Director Richard W. Fisher sold 1,400 shares of the business’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 directly owns 16,227 shares of the company’s stock, valued at approximately $2,145,858.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tenet Healthcare news, Director Richard W. Fisher sold 1,400 shares of the business’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 directly owns 16,227 shares of the company’s stock, valued at approximately $2,145,858.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher S. Lynch sold 10,861 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $133.83, for a total value of $1,453,527.63. Following the sale, the director now directly owns 14,759 shares of the company’s stock, valued at $1,975,196.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,691 shares of company stock valued at $3,117,909. Corporate insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $112.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, July 9th. Robert W. Baird started coverage on Tenet Healthcare in a research note on Thursday, May 30th. They set an “outperform” rating and a $153.00 target price on the stock. UBS Group increased their target price on Tenet Healthcare from $137.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their target price on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Barclays increased their target price on Tenet Healthcare from $147.00 to $156.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. One investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $123.18.

Tenet Healthcare Trading Up 1.2 %

Shares of NYSE:THC traded up $1.52 during midday trading on Friday, reaching $133.27. The company’s stock had a trading volume of 694,909 shares, compared to its average volume of 1,172,919. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 5.17, a PEG ratio of 1.20 and a beta of 2.15. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.37 and a current ratio of 1.44. The firm has a 50 day moving average price of $133.44 and a two-hundred day moving average price of $108.59. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $142.35.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data 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. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. As a group, analysts forecast that Tenet Healthcare Co. will post 8.87 earnings per share for the current year.

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.