Sector Gamma AS grew its holdings in Tenet Healthcare Corp (NYSE:THC) by 30.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 429,677 shares of the company’s stock after purchasing an additional 101,015 shares during the period. Tenet Healthcare makes up 1.6% of Sector Gamma AS’s portfolio, making the stock its 23rd biggest position. Sector Gamma AS’s holdings in Tenet Healthcare were worth $9,504,000 at the end of the most recent quarter.
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Several other institutional investors and hedge funds have also added to or reduced their stakes in THC. Rehmann Capital Advisory Group increased its stake in shares of Tenet Healthcare by 62.4% in the second quarter. Rehmann Capital Advisory Group now owns 1,601 shares of the company’s stock worth $33,000 after acquiring an additional 615 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Tenet Healthcare by 152.6% in the third quarter. Quadrant Capital Group LLC now owns 1,546 shares of the company’s stock worth $33,000 after acquiring an additional 934 shares during the last quarter. KBC Group NV acquired a new position in shares of Tenet Healthcare in the second quarter worth $53,000. LS Investment Advisors LLC increased its stake in shares of Tenet Healthcare by 52.7% in the third quarter. LS Investment Advisors LLC now owns 2,552 shares of the company’s stock worth $56,000 after acquiring an additional 881 shares during the last quarter. Finally, Point72 Hong Kong Ltd increased its stake in shares of Tenet Healthcare by 605.4% in the second quarter. Point72 Hong Kong Ltd now owns 5,453 shares of the company’s stock worth $113,000 after acquiring an additional 4,680 shares during the last quarter. Institutional investors own 99.16% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Tenet Healthcare in a research note on Wednesday, August 14th. They issued a “neutral” rating and a $28.00 price target on the stock. ValuEngine downgraded shares of Tenet Healthcare from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 5th. Royal Bank of Canada reissued a “hold” rating and set a $26.00 target price on shares of Tenet Healthcare in a research report on Sunday, August 11th. Robert W. Baird increased their target price on shares of Tenet Healthcare from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Mizuho reissued a “buy” rating on shares of Tenet Healthcare in a research report on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.64.
In other news, Director Edward A. Kangas sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $20.28, for a total value of $912,600.00. Following the sale, the director now directly owns 47,138 shares of the company’s stock, valued at $955,958.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Glenview Capital Management, L purchased 173,235 shares of the stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of $21.09 per share, for a total transaction of $3,653,526.15. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,098,419 shares of company stock worth $22,395,899. 1.50% of the stock is currently owned by company insiders.
Tenet Healthcare stock traded down $0.30 during mid-day trading on Friday, hitting $29.70. 1,383,065 shares of the company’s stock were exchanged, compared to its average volume of 1,500,061. The company has a current ratio of 1.22, a quick ratio of 1.06 and a debt-to-equity ratio of 30.38. The stock has a market cap of $2.91 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.74 and a beta of 1.66. Tenet Healthcare Corp has a 1-year low of $16.60 and a 1-year high of $31.64. The stock has a 50 day moving average of $23.99 and a two-hundred day moving average of $21.88.
Tenet Healthcare (NYSE:THC) last posted its earnings results on Monday, November 4th. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.30. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.46 billion. Tenet Healthcare had a negative net margin of 1.31% and a positive return on equity of 35.68%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. As a group, research analysts predict that Tenet Healthcare Corp will post 2.55 EPS for the current fiscal year.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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