Illinois Municipal Retirement Fund Boosts Stock Position in Tenet Healthcare Co. (NYSE:THC)

Illinois Municipal Retirement Fund lifted its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 40.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,709 shares of the company’s stock after purchasing an additional 4,832 shares during the period. Illinois Municipal Retirement Fund’s holdings in Tenet Healthcare were worth $1,263,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in shares of Tenet Healthcare during the 3rd quarter valued at approximately $67,000. USA Financial Formulas bought a new stake in shares of Tenet Healthcare in the third quarter valued at $92,000. CWM LLC lifted its position in shares of Tenet Healthcare by 49.8% during the 3rd quarter. CWM LLC now owns 1,443 shares of the company’s stock valued at $95,000 after buying an additional 480 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Tenet Healthcare in the 3rd quarter worth about $152,000. Finally, Neo Ivy Capital Management bought a new stake in Tenet Healthcare in the 3rd quarter valued at about $155,000. Institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Truist Financial raised their price target on Tenet Healthcare from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Mizuho boosted their price objective on Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $104.00 target price on shares of Tenet Healthcare in a report on Wednesday, April 10th. Finally, Wells Fargo & Company raised their price objective on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $100.38.

Insider Activity

In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the transaction, the director now directly owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the sale, the director now owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the transaction, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,268 shares of company stock valued at $4,944,810. Insiders own 0.93% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE:THC opened at $96.13 on Friday. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $107.80. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The business has a 50 day moving average of $98.22 and a 200 day moving average of $80.54. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 3.08 and a beta of 2.08.

Tenet Healthcare (NYSE:THC) last released its earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm earned $1.96 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Tenet Healthcare Co. will post 6.3 earnings per share for the current fiscal year.

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.