BNP Paribas Financial Markets Acquires 29,172 Shares of Tenet Healthcare Co. (NYSE:THC)

BNP Paribas Financial Markets increased its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 113.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,878 shares of the company's stock after purchasing an additional 29,172 shares during the period. BNP Paribas Financial Markets owned 0.06% of Tenet Healthcare worth $5,768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in Tenet Healthcare during the 1st quarter valued at about $29,000. GAMMA Investing LLC purchased a new stake in Tenet Healthcare during the 4th quarter valued at about $52,000. FinTrust Capital Advisors LLC grew its stake in Tenet Healthcare by 108.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company's stock valued at $68,000 after acquiring an additional 467 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Tenet Healthcare during the 3rd quarter valued at about $67,000. Finally, Bellevue Group AG grew its stake in Tenet Healthcare by 106.7% during the 4th quarter. Bellevue Group AG now owns 1,447 shares of the company's stock valued at $109,000 after acquiring an additional 747 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company's stock.

Tenet Healthcare Stock Performance

NYSE THC traded up $0.73 during trading on Friday, reaching $134.46. The company's stock had a trading volume of 1,175,731 shares, compared to its average volume of 1,207,511. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $142.35. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.37 and a current ratio of 1.44. The business's fifty day moving average price is $132.38 and its 200-day moving average price is $105.99. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 5.27, a P/E/G ratio of 1.20 and a beta of 2.15.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period in the previous year, the business posted $1.42 earnings per share. The business's revenue was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Tenet Healthcare Co. will post 8.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

THC has been the subject of several analyst reports. StockNews.com raised shares of Tenet Healthcare from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 7th. Wells Fargo & Company increased their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, March 28th. Royal Bank of Canada lifted their target price on shares of Tenet Healthcare from $109.00 to $136.00 and gave the company an "outperform" rating in a report on Wednesday, May 1st. Baird R W upgraded shares of Tenet Healthcare to a "strong-buy" rating in a report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tenet Healthcare from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday, June 28th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tenet Healthcare has an average rating of "Buy" and an average target price of $121.71.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the company's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of the company's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total value of $945,982.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nadja West sold 1,782 shares of the company's stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $126.41, for a total transaction of $225,262.62. Following the completion of the sale, the director now directly owns 29,680 shares in the company, valued at approximately $3,751,848.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,691 shares of company stock worth $3,117,909. 0.93% of the stock is owned by company insiders.

Tenet Healthcare 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.