LPL Financial LLC Has $8.48 Million Stake in Tenet Healthcare Co. (NYSE:THC)

LPL Financial LLC raised its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 40.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,136 shares of the company's stock after purchasing an additional 19,389 shares during the period. LPL Financial LLC owned 0.07% of Tenet Healthcare worth $8,475,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Coldstream Capital Management Inc. raised its holdings in Tenet Healthcare by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,406 shares of the company's stock worth $566,000 after acquiring an additional 74 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Tenet Healthcare by 9.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 940 shares of the company's stock worth $119,000 after purchasing an additional 80 shares during the period. Spire Wealth Management lifted its position in shares of Tenet Healthcare by 19.5% during the 4th quarter. Spire Wealth Management now owns 558 shares of the company's stock worth $70,000 after purchasing an additional 91 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Tenet Healthcare by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,109 shares of the company's stock valued at $1,024,000 after buying an additional 100 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Tenet Healthcare by 30.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after buying an additional 110 shares during the last quarter. Institutional investors own 95.44% of the company's stock.

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Tenet Healthcare Price Performance

Tenet Healthcare stock traded down $3.48 during trading hours on Thursday, hitting $127.59. 1,160,275 shares of the stock were exchanged, compared to its average volume of 1,532,556. Tenet Healthcare Co. has a 12 month low of $90.03 and a 12 month high of $171.20. The business's 50-day moving average is $130.18 and its two-hundred day moving average is $139.91. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. The stock has a market capitalization of $12.14 billion, a P/E ratio of 3.96, a P/E/G ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director J Robert Kerrey sold 9,525 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares in the company, valued at $3,434,022.54. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on THC. The Goldman Sachs Group lowered shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. KeyCorp dropped their price objective on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. TD Cowen began coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 target price on the stock. Barclays cut their price target on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $166.33.

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.