Parkman Healthcare Partners LLC Purchases 13,234 Shares of Tenet Healthcare Co. (NYSE:THC)

Parkman Healthcare Partners LLC increased its position in Tenet Healthcare Co. (NYSE:THC) by 14.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 106,987 shares of the company’s stock after buying an additional 13,234 shares during the quarter. Tenet Healthcare comprises 1.8% of Parkman Healthcare Partners LLC’s holdings, making the stock its 18th largest position. Parkman Healthcare Partners LLC’s holdings in Tenet Healthcare were worth $13,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of THC. Geode Capital Management LLC boosted its stake in shares of Tenet Healthcare by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock worth $268,591,000 after buying an additional 71,454 shares during the last quarter. Norges Bank purchased a new position in Tenet Healthcare during the 4th quarter worth $190,819,000. Dimensional Fund Advisors LP increased its holdings in shares of Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock valued at $188,524,000 after acquiring an additional 272,906 shares during the period. AQR Capital Management LLC boosted its holdings in Tenet Healthcare by 20.8% in the fourth quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock worth $110,087,000 after acquiring an additional 150,361 shares in the last quarter. Finally, Northern Trust Corp raised its position in Tenet Healthcare by 22.0% during the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company’s stock worth $107,049,000 after buying an additional 152,671 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on THC shares. UBS Group raised their target price on shares of Tenet Healthcare from $217.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Morgan Stanley upped their price target on shares of Tenet Healthcare from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Robert W. Baird reiterated a “neutral” rating and issued a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a report on Tuesday, April 15th. TD Cowen initiated coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They set a “buy” rating and a $175.00 price objective on the stock. Finally, The Goldman Sachs Group upped their price target on Tenet Healthcare from $134.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.63.

Tenet Healthcare Stock Performance

NYSE:THC opened at $158.11 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The stock has a market cap of $14.69 billion, a PE ratio of 4.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. The firm’s fifty day simple moving average is $130.60 and its 200-day simple moving average is $136.09. Tenet Healthcare Co. has a fifty-two week low of $109.82 and a fifty-two week high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same period last year, the firm posted $3.22 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 5,001 shares of Tenet Healthcare stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the completion of the sale, the director now directly owns 22,377 shares in the company, valued at $3,322,984.50. This trade represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.81% of the company’s stock.

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.