Tenet Healthcare Co. (NYSE:THC) Shares Acquired by Readystate Asset Management LP

Readystate Asset Management LP lifted its position in shares of Tenet Healthcare Co. (NYSE:THC) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,340 shares of the company’s stock after acquiring an additional 5,454 shares during the quarter. Readystate Asset Management LP’s holdings in Tenet Healthcare were worth $6,751,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in Tenet Healthcare by 324.3% during the fourth quarter. Nordea Investment Management AB now owns 40,066 shares of the company’s stock worth $3,030,000 after buying an additional 30,623 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Tenet Healthcare by 37.3% during the third quarter. First Eagle Investment Management LLC now owns 176,404 shares of the company’s stock worth $11,623,000 after buying an additional 47,952 shares in the last quarter. Simplicity Solutions LLC purchased a new stake in shares of Tenet Healthcare in the third quarter valued at about $5,664,000. Bleakley Financial Group LLC lifted its holdings in shares of Tenet Healthcare by 6.0% in the fourth quarter. Bleakley Financial Group LLC now owns 91,159 shares of the company’s stock valued at $6,889,000 after purchasing an additional 5,198 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Tenet Healthcare by 0.6% in the third quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock valued at $720,671,000 after purchasing an additional 63,253 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction on 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 owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,268 shares of company stock worth $4,944,810. 1.70% of the stock is currently owned by company insiders.

Tenet Healthcare Trading Down 2.3 %

Shares of Tenet Healthcare stock traded down $2.30 during trading hours on Wednesday, hitting $95.97. The company’s stock had a trading volume of 1,208,544 shares, compared to its average volume of 1,116,311. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $107.80. The business has a fifty day moving average of $97.33 and a 200 day moving average of $78.92. The company has a market capitalization of $9.52 billion, a PE ratio of 16.81, a P/E/G ratio of 3.12 and a beta of 2.08. 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 (NYSE:THC) last released its quarterly earnings data on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the business earned $1.96 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Tenet Healthcare Co. will post 6.09 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on THC shares. Wolfe Research raised shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target on the stock in a report on Wednesday, March 27th. 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. Truist Financial boosted their price objective on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Royal Bank of Canada boosted their price objective on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, Barclays assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $113.00 price objective for the company. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tenet Healthcare currently has an average rating of “Buy” and a consensus 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.