Mirae Asset Global Investments Co. Ltd. boosted its position in Tenet Healthcare Co. (NYSE:THC – Get Rating) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 11,090 shares of the company’s stock after purchasing an additional 563 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Tenet Healthcare were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Tenet Healthcare by 3.8% during the first quarter. BlackRock Inc. now owns 12,532,426 shares of the company’s stock worth $1,077,288,000 after acquiring an additional 464,316 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Tenet Healthcare by 0.7% during the first quarter. Vanguard Group Inc. now owns 10,932,708 shares of the company’s stock worth $939,775,000 after acquiring an additional 77,543 shares in the last quarter. Invesco Ltd. lifted its position in shares of Tenet Healthcare by 7.5% during the first quarter. Invesco Ltd. now owns 5,972,392 shares of the company’s stock worth $513,386,000 after acquiring an additional 418,634 shares in the last quarter. State Street Corp raised its position in shares of Tenet Healthcare by 2.4% in the first quarter. State Street Corp now owns 3,377,944 shares of the company’s stock worth $290,368,000 after buying an additional 78,687 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Tenet Healthcare by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,180,627 shares of the company’s stock worth $187,446,000 after buying an additional 415,945 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.
Tenet Healthcare Stock Performance
Tenet Healthcare stock opened at $39.01 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 7.07. The firm has a 50-day moving average of $56.37 and a 200-day moving average of $62.34. The firm has a market cap of $4.21 billion, a P/E ratio of 7.68, a P/E/G ratio of 0.69 and a beta of 2.37. Tenet Healthcare Co. has a 1-year low of $36.69 and a 1-year high of $92.65.
Tenet Healthcare (NYSE:THC – Get Rating) last posted its earnings results on Friday, October 21st. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.16. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.80 billion. Tenet Healthcare had a net margin of 2.93% and a return on equity of 40.10%. Tenet Healthcare’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.99 earnings per share. Sell-side analysts expect that Tenet Healthcare Co. will post 6.27 EPS for the current year.
Insider Transactions at Tenet Healthcare
In other Tenet Healthcare news, Director J Robert Kerrey sold 36,766 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $65.56, for a total value of $2,410,378.96. Following the completion of the sale, the director now directly owns 48,798 shares in the company, valued at $3,199,196.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on THC shares. Mizuho increased their price objective on Tenet Healthcare from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Credit Suisse Group set a $104.00 target price on Tenet Healthcare in a research note on Tuesday, July 19th. SVB Leerink increased their target price on Tenet Healthcare from $88.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, August 24th. Raymond James reduced their target price on Tenet Healthcare from $120.00 to $110.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 11th. Finally, Truist Financial reduced their target price on Tenet Healthcare from $80.00 to $55.00 in a research note on Monday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tenet Healthcare has a consensus rating of “Moderate Buy” and an average target price of $81.63.
Tenet Healthcare Profile
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Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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