Alpha DNA Investment Management LLC Buys Shares of 3,045 Tenet Healthcare Co. (NYSE:THC)

Alpha DNA Investment Management LLC acquired a new stake in shares of Tenet Healthcare Co. (NYSE:THC) during the third quarter, HoldingsChannel reports. The fund acquired 3,045 shares of the company’s stock, valued at approximately $506,000.

A number of other large investors also recently bought and sold shares of THC. Acadian Asset Management LLC increased its holdings in shares of Tenet Healthcare by 102.9% in the 1st quarter. Acadian Asset Management LLC now owns 4,455 shares of the company’s stock valued at $468,000 after acquiring an additional 2,259 shares during the period. Quadrature Capital Ltd lifted its position in shares of Tenet Healthcare by 203.3% during the first quarter. Quadrature Capital Ltd now owns 11,091 shares of the company’s stock valued at $1,166,000 after buying an additional 7,434 shares during the last quarter. Bellevue Group AG grew its position in shares of Tenet Healthcare by 193.3% in the 1st quarter. Bellevue Group AG now owns 4,244 shares of the company’s stock worth $446,000 after buying an additional 2,797 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Tenet Healthcare during the 1st quarter worth approximately $354,000. Finally, Kingdon Capital Management L.L.C. boosted its stake in Tenet Healthcare by 335.8% in the first quarter. Kingdon Capital Management L.L.C. now owns 278,700 shares of the company’s stock valued at $29,294,000 after acquiring an additional 214,750 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Lisa Y. Foo sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $155.94, for a total transaction of $623,760.00. Following the completion of the transaction, the executive vice president now directly owns 15,566 shares of the company’s stock, valued at $2,427,362.04. This represents a 20.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider R. Scott Ramsey sold 11,599 shares of Tenet Healthcare stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $162.06, for a total transaction of $1,879,733.94. Following the completion of the sale, the insider now directly owns 6,324 shares in the company, valued at $1,024,867.44. This represents a 64.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,599 shares of company stock valued at $2,830,834. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on THC shares. The Goldman Sachs Group increased their price objective on Tenet Healthcare from $173.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Tenet Healthcare from $174.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald upped their price objective on shares of Tenet Healthcare from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Truist Financial reiterated a “buy” rating and issued a $190.00 target price (up from $180.00) on shares of Tenet Healthcare in a research note on Wednesday, October 30th. Finally, UBS Group upped their price target on shares of Tenet Healthcare from $197.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $171.63.

Tenet Healthcare Stock Performance

NYSE THC opened at $143.63 on Friday. Tenet Healthcare Co. has a fifty-two week low of $65.90 and a fifty-two week high of $171.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.52 and a current ratio of 1.58. The firm has a market capitalization of $13.66 billion, a P/E ratio of 4.60, a PEG ratio of 0.66 and a beta of 2.15. The stock has a 50-day simple moving average of $158.86 and a two-hundred day simple moving average of $148.04.

Tenet Healthcare (NYSE:THC) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.33 by $0.60. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.05 billion. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 EPS. On average, equities analysts forecast that Tenet Healthcare Co. will post 11.38 earnings per share 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.