CWA Asset Management Group LLC Makes New Investment in Tenet Healthcare Co. (NYSE:THC)

CWA Asset Management Group LLC bought a new position in Tenet Healthcare Co. (NYSE:THC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,930 shares of the company's stock, valued at approximately $1,758,000.

A number of other institutional investors have also recently made changes to their positions in THC. Nordea Investment Management AB lifted its holdings in Tenet Healthcare by 13.5% during the fourth quarter. Nordea Investment Management AB now owns 83,793 shares of the company's stock valued at $10,577,000 after purchasing an additional 9,946 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Tenet Healthcare by 101.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 7,894 shares of the company's stock worth $1,281,000 after buying an additional 3,973 shares during the period. Retirement Systems of Alabama lifted its position in shares of Tenet Healthcare by 46.6% during the third quarter. Retirement Systems of Alabama now owns 176,757 shares of the company's stock worth $29,377,000 after acquiring an additional 56,193 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Tenet Healthcare by 11.9% during the 3rd quarter. Franklin Resources Inc. now owns 457,704 shares of the company's stock valued at $71,077,000 after purchasing an additional 48,580 shares during the period. Finally, Sanctuary Advisors LLC lifted its holdings in Tenet Healthcare by 470.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,289 shares of the company's stock worth $2,541,000 after purchasing an additional 12,609 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Buying and Selling

In other news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now owns 15,566 shares in the company, valued at $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Trading Up 2.7 %

Shares of THC traded up $3.34 during mid-day trading on Tuesday, hitting $128.95. 1,162,854 shares of the company's stock traded hands, compared to its average volume of 1,175,988. The business's 50-day moving average price is $143.47 and its 200-day moving average price is $148.45. Tenet Healthcare Co. has a 1 year low of $75.83 and a 1 year high of $171.20. The firm has a market capitalization of $12.26 billion, a P/E ratio of 4.13, a PEG ratio of 0.61 and a beta of 2.06. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.35.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the business earned $1.44 EPS. Tenet Healthcare's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Tenet Healthcare Co. will post 11.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on THC. Raymond James lowered shares of Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective for the company. in a research report on Friday, November 22nd. UBS Group upped their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. KeyCorp reduced their target price on Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $175.00 price target on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada raised their target price on shares of Tenet Healthcare from $174.00 to $183.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.

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.