Gilliland Jeter Wealth Management LLC Buys Shares of 5,100 Tenet Healthcare Co. (NYSE:THC)

Gilliland Jeter Wealth Management LLC bought a new stake in shares of Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,100 shares of the company’s stock, valued at approximately $385,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in THC. GAMMA Investing LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter valued at $52,000. Sunbelt Securities Inc. bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $67,000. USA Financial Formulas bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $92,000. CWM LLC raised 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 purchasing an additional 480 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at $152,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Trading Down 1.4 %

Shares of THC stock traded down $1.38 during trading on Friday, hitting $96.13. 1,322,951 shares of the stock traded hands, compared to its average volume of 960,623. The firm has a market capitalization of $9.54 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 3.12 and a beta of 2.08. 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 firm’s fifty day moving average price is $98.22 and its 200-day moving average price is $80.42. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $107.80.

Tenet Healthcare (NYSE:THC) last released its quarterly 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. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.96 EPS. As a group, research analysts forecast that Tenet Healthcare Co. will post 6.3 earnings per share for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the sale, the executive vice president now owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Thomas W. Arnst sold 17,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the transaction, the executive vice president now owns 8,148 shares in the company, valued at $772,756.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was 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 owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,268 shares of company stock valued at $4,944,810. 0.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on THC. Truist Financial lifted their price target on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 9th. Royal Bank of Canada lifted their price target on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Wells Fargo & Company lifted their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $104.00 price target on shares of Tenet Healthcare in a report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $100.38.

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.