Texas Permanent School Fund Corp Has $9.34 Million Stock Position in Tenet Healthcare Co. (NYSE:THC)

Texas Permanent School Fund Corp lifted its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,877 shares of the company’s stock after buying an additional 2,677 shares during the period. Texas Permanent School Fund Corp owned about 0.09% of Tenet Healthcare worth $9,342,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of THC. Rise Advisors LLC acquired a new position in shares of Tenet Healthcare during the first quarter worth $29,000. GAMMA Investing LLC acquired a new stake in Tenet Healthcare in the fourth quarter valued at $52,000. Sunbelt Securities Inc. acquired a new stake in Tenet Healthcare in the third quarter valued at $67,000. FinTrust Capital Advisors LLC increased its holdings in Tenet Healthcare by 108.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after purchasing an additional 467 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new stake in Tenet Healthcare in the first quarter valued at $78,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Mizuho restated a “buy” rating and issued a $130.00 price objective (up from $118.00) on shares of Tenet Healthcare in a report on Wednesday, May 1st. Barclays upped their price target on shares of Tenet Healthcare from $147.00 to $156.00 and gave the company an “overweight” rating in a research report on Wednesday. Robert W. Baird assumed coverage on shares of Tenet Healthcare in a research report on Thursday, May 30th. They set an “outperform” rating and a $153.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Tenet Healthcare from $107.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, Stephens increased their price objective on shares of Tenet Healthcare from $95.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Buy” and a consensus price target of $121.71.

Tenet Healthcare Stock Up 2.4 %

NYSE:THC traded up $3.10 on Thursday, hitting $133.80. The stock had a trading volume of 1,292,458 shares, compared to its average volume of 1,206,218. 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 stock has a market cap of $13.07 billion, a P/E ratio of 5.19, a price-to-earnings-growth ratio of 1.19 and a beta of 2.15. Tenet Healthcare Co. has a 1 year low of $51.04 and a 1 year high of $142.35. The firm’s fifty day simple moving average is $132.38 and its two-hundred day simple moving average is $105.99.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a net margin of 12.53% and a return on equity of 26.76%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the business posted $1.42 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts predict that Tenet Healthcare Co. will post 8.7 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total value of $945,982.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Richard W. Fisher sold 1,400 shares of Tenet Healthcare stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $132.24, for a total value of $185,136.00. Following the completion of the transaction, the director now directly owns 16,227 shares in the company, valued at approximately $2,145,858.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,691 shares of company stock valued at $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.