Congress Park Capital LLC Sells 350 Shares of Tenet Healthcare Co. (NYSE:THC)

Congress Park Capital LLC lessened its position in Tenet Healthcare Co. (NYSE:THC) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,981 shares of the company’s stock after selling 350 shares during the quarter. Congress Park Capital LLC’s holdings in Tenet Healthcare were worth $1,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Tenet Healthcare during the first quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new stake in Tenet Healthcare in the fourth quarter worth approximately $52,000. Sunbelt Securities Inc. purchased a new position in shares of Tenet Healthcare during the 3rd quarter worth $67,000. FinTrust Capital Advisors LLC lifted its stake in shares of 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 buying an additional 467 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in Tenet Healthcare in the 3rd quarter valued at $92,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Baird R W upgraded Tenet Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. lifted their price target on Tenet Healthcare from $107.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $104.00 price target on shares of Tenet Healthcare in a report on Wednesday, April 10th. Wells Fargo & Company raised their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, Mizuho reiterated a “buy” rating and issued a $130.00 target price (up from $118.00) on shares of Tenet Healthcare in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $120.71.

Insider Transactions at Tenet Healthcare

In related news, EVP Thomas W. Arnst sold 8,148 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total transaction of $945,982.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Christopher S. Lynch sold 10,861 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the completion of the sale, the director now directly owns 14,759 shares of the company’s stock, valued at approximately $1,975,196.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,691 shares of company stock worth $3,117,909. 0.93% of the stock is owned by corporate insiders.

Tenet Healthcare Trading Down 4.4 %

Shares of Tenet Healthcare stock traded down $6.08 on Friday, reaching $132.22. 760,013 shares of the company were exchanged, compared to its average volume of 1,205,699. The firm has a market capitalization of $12.92 billion, a price-to-earnings ratio of 5.17, a price-to-earnings-growth ratio of 1.40 and a beta of 2.12. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $142.35. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. The stock has a fifty day moving average price of $126.28 and a 200-day moving average price of $101.94.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $1.45 by $1.77. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. Tenet Healthcare’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 earnings per share. On average, analysts expect that Tenet Healthcare Co. will post 8.55 EPS for the current year.

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.