Amalgamated Bank Sells 1,273 Shares of Tenet Healthcare Co. (NYSE:THC)

Amalgamated Bank decreased its position in Tenet Healthcare Co. (NYSE:THC) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,173 shares of the company’s stock after selling 1,273 shares during the period. Amalgamated Bank’s holdings in Tenet Healthcare were worth $5,832,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Tenet Healthcare in the third quarter worth approximately $152,000. Raymond James & Associates increased its stake in Tenet Healthcare by 32.2% in the third quarter. Raymond James & Associates now owns 135,477 shares of the company’s stock valued at $8,927,000 after purchasing an additional 32,992 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Tenet Healthcare by 11.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 100,502 shares of the company’s stock valued at $6,622,000 after buying an additional 10,141 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Tenet Healthcare by 9.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,966 shares of the company’s stock worth $1,250,000 after buying an additional 1,582 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Tenet Healthcare by 31.4% in the third quarter. Mackenzie Financial Corp now owns 50,393 shares of the company’s stock worth $3,185,000 after acquiring an additional 12,051 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on THC. Barclays raised their price objective on shares of Tenet Healthcare from $113.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company increased their price objective on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Royal Bank of Canada upped their price target on Tenet Healthcare from $109.00 to $136.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $113.19.

Tenet Healthcare Stock Up 1.1 %

THC opened at $120.28 on Monday. The company has a market cap of $11.75 billion, a PE ratio of 4.67, a price-to-earnings-growth ratio of 1.22 and a beta of 2.09. Tenet Healthcare Co. has a 12 month low of $51.04 and a 12 month high of $121.72. 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 company has a 50 day moving average of $100.37 and a 200 day moving average of $82.77.

Tenet Healthcare (NYSE:THC) last posted its earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the previous year, the firm earned $1.42 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts expect that Tenet Healthcare Co. will post 8.73 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Thomas W. Arnst sold 8,148 shares of the company’s stock in a transaction 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 this hyperlink. In related news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the sale, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. 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 8,148 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was 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. Insiders have sold 59,416 shares of company stock worth $5,890,793 in the last three months. 0.93% of the stock is currently owned by corporate insiders.

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.