American International Group Inc. Sells 2,748 Shares of Tenet Healthcare Co. (NYSE:THC)

American International Group Inc. lessened its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,420 shares of the company’s stock after selling 2,748 shares during the period. American International Group Inc. owned 0.14% of Tenet Healthcare worth $14,129,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of THC. Rise Advisors LLC purchased a new position in shares of Tenet Healthcare in the 1st quarter worth about $29,000. GAMMA Investing LLC purchased a new position in shares of Tenet Healthcare in the 4th quarter worth about $52,000. Fidelis Capital Partners LLC purchased a new position in Tenet Healthcare in the 1st quarter worth about $78,000. FinTrust Capital Advisors LLC raised its position in Tenet Healthcare by 108.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock worth $68,000 after buying an additional 467 shares during the last quarter. Finally, Bellevue Group AG raised its position in Tenet Healthcare by 106.7% in the 4th quarter. Bellevue Group AG now owns 1,447 shares of the company’s stock worth $109,000 after buying an additional 747 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Transactions at Tenet Healthcare

In related news, Director Richard W. Fisher sold 1,400 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $132.24, for a total transaction of $185,136.00. Following the sale, the director now owns 16,227 shares of the company’s stock, valued at $2,145,858.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tenet Healthcare news, Director Richard W. Fisher sold 1,400 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $132.24, for a total value of $185,136.00. Following the completion of the sale, the director now owns 16,227 shares of the company’s stock, valued at $2,145,858.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Thomas W. Arnst sold 8,148 shares of the firm’s stock in a transaction dated 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 90 days, insiders have sold 24,691 shares of company stock valued at $3,117,909. 0.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

THC has been the subject of a number of recent analyst reports. Barclays boosted their target price on Tenet Healthcare from $147.00 to $156.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on Tenet Healthcare from $109.00 to $136.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Mizuho reiterated a “buy” rating and set a $130.00 price objective (up from $118.00) on shares of Tenet Healthcare in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Tenet Healthcare from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, StockNews.com upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 7th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $127.35.

Tenet Healthcare Trading Up 3.1 %

THC stock traded up $4.53 during midday trading on Thursday, reaching $149.87. The company’s stock had a trading volume of 1,124,150 shares, compared to its average volume of 1,222,895. 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 fifty day simple moving average of $134.07 and a two-hundred day simple moving average of $109.95. Tenet Healthcare Co. has a 1 year low of $51.04 and a 1 year high of $151.00. The firm has a market capitalization of $14.64 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 1.25 and a beta of 2.15.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Tenet Healthcare Co. will post 8.87 EPS for the current year.

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.