Sivik Global Healthcare LLC Acquires 5,000 Shares of Tenet Healthcare Co. (NYSE:THC)

Sivik Global Healthcare LLC grew its holdings in Tenet Healthcare Co. (NYSE:THC) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 145,000 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Tenet Healthcare comprises approximately 4.6% of Sivik Global Healthcare LLC’s holdings, making the stock its 2nd biggest holding. Sivik Global Healthcare LLC’s holdings in Tenet Healthcare were worth $10,958,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in Tenet Healthcare by 324.3% in the fourth quarter. Nordea Investment Management AB now owns 40,066 shares of the company’s stock valued at $3,030,000 after acquiring an additional 30,623 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Tenet Healthcare by 37.3% during the 3rd 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 during the period. Bleakley Financial Group LLC lifted its holdings in Tenet Healthcare by 6.0% in the 4th quarter. Bleakley Financial Group LLC now owns 91,159 shares of the company’s stock worth $6,889,000 after buying an additional 5,198 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Tenet Healthcare by 0.6% during the third quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock valued at $720,671,000 after acquiring an additional 63,253 shares in the last quarter. Finally, TD Asset Management Inc purchased a new stake in shares of Tenet Healthcare during the third quarter worth about $1,146,000. 95.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial raised their price objective on Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $104.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, April 10th. Mizuho upped their target price on shares of Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, TheStreet upgraded Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tenet Healthcare has an average rating of “Buy” and a consensus target price of $100.38.

Insider Transactions at Tenet Healthcare

In related news, Director Richard J. Mark sold 14,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now owns 33,303 shares in the company, valued at approximately $3,296,330.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. Also, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the sale, the executive vice president now directly owns 29,803 shares in the company, valued at approximately $2,889,698.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,268 shares of company stock valued at $4,944,810. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Performance

NYSE:THC traded up $13.15 during midday trading on Tuesday, reaching $112.30. 3,866,059 shares of the company traded hands, compared to its average volume of 1,167,617. Tenet Healthcare Co. has a twelve month low of $51.04 and a twelve month high of $112.30. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The company has a fifty day moving average price of $98.38 and a 200 day moving average price of $81.03. The firm has a market capitalization of $11.14 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 3.08 and a beta of 2.08.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings results on Thursday, February 8th. The company reported $2.68 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 business 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 firm earned $1.96 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts expect that Tenet Healthcare Co. will post 6.3 EPS for the current fiscal year.

Tenet Healthcare 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.