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, Holdings Channel.com reports. The firm 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 recently bought and sold shares of THC. GAMMA Investing LLC bought a new stake in shares of Tenet Healthcare during the 4th quarter worth about $52,000. Sunbelt Securities Inc. bought a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $67,000. USA Financial Formulas acquired a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $92,000. CWM LLC raised its holdings in shares of Tenet Healthcare by 49.8% during the third quarter. CWM LLC now owns 1,443 shares of the company’s stock valued at $95,000 after acquiring an additional 480 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $152,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

Tenet Healthcare stock traded down $1.38 during mid-day trading on Friday, reaching $96.13. The company had a trading volume of 1,322,951 shares, compared to its average volume of 960,623. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 4.77. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $107.80. The company has a 50 day moving average of $98.22 and a 200-day moving average of $80.42. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 3.12 and a beta of 2.08.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $1.10. The firm had revenue of $5.38 billion during the quarter, compared to the consensus estimate 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 was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 EPS. On average, sell-side analysts expect that Tenet Healthcare Co. will post 6.3 EPS for the current fiscal year.

Insider Transactions at Tenet Healthcare

In other news, EVP Thomas W. Arnst sold 17,000 shares of the firm’s stock in a transaction dated 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 directly owns 8,148 shares of the company’s stock, valued at approximately $772,756.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The disclosure for this sale can be found here. In the last three months, insiders sold 51,268 shares of company stock valued at $4,944,810. Company insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on THC. Truist Financial boosted 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a research report on Friday, April 12th. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Wolfe Research raised shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price objective on the stock in a research report on Wednesday, March 27th. Finally, Mizuho boosted their price objective on shares of Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target 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.