Raymond James Financial Inc. Takes $49 Million Position in Tenet Healthcare Co. (NYSE:THC)

Raymond James Financial Inc. acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 388,181 shares of the company’s stock, valued at approximately $49,001,000. Raymond James Financial Inc. owned about 0.41% of Tenet Healthcare at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC lifted its stake in shares of Tenet Healthcare by 69.7% in the 4th quarter. Advisory Services Network LLC now owns 5,851 shares of the company’s stock valued at $739,000 after purchasing an additional 2,403 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Tenet Healthcare by 579.2% in the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company’s stock worth $55,360,000 after acquiring an additional 373,988 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Tenet Healthcare by 314.9% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 14,360 shares of the company’s stock worth $1,813,000 after purchasing an additional 10,899 shares in the last quarter. Islay Capital Management LLC acquired a new position in Tenet Healthcare during the 4th quarter worth about $691,000. Finally, Prudential PLC boosted its stake in shares of Tenet Healthcare by 0.7% in the fourth quarter. Prudential PLC now owns 15,344 shares of the company’s stock valued at $1,937,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insider Buying and Selling

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com upgraded Tenet Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Barclays lowered their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Morgan Stanley started coverage on Tenet Healthcare in a report on Wednesday, March 26th. They set an “overweight” rating and a $165.00 price target for the company. KeyCorp dropped their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Guggenheim initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price target for the company. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $166.33.

Tenet Healthcare Stock Performance

NYSE THC opened at $124.77 on Tuesday. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The business has a 50 day moving average price of $129.37 and a 200 day moving average price of $139.16. The company has a market capitalization of $11.87 billion, a P/E ratio of 3.87, a PEG ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Sell-side analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal 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.