Tenet Healthcare Co. (NYSE:THC) Shares Purchased by LSV Asset Management

LSV Asset Management grew its position in Tenet Healthcare Co. (NYSE:THC) by 43.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,400 shares of the company’s stock after acquiring an additional 33,659 shares during the period. LSV Asset Management owned about 0.11% of Tenet Healthcare worth $8,418,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in shares of Tenet Healthcare during the fourth quarter worth about $52,000. Sunbelt Securities Inc. acquired a new stake in Tenet Healthcare during the 3rd quarter worth $67,000. USA Financial Formulas purchased a new position in shares of Tenet Healthcare in the third quarter worth about $92,000. SG Americas Securities LLC purchased a new position in Tenet Healthcare in the 3rd quarter worth approximately $152,000. Finally, Neo Ivy Capital Management purchased a new position in Tenet Healthcare during the third quarter worth approximately $155,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Price Performance

THC opened at $124.10 on Wednesday. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $124.92. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. The company has a market cap of $12.12 billion, a P/E ratio of 4.82, a P/E/G ratio of 1.22 and a beta of 2.09. The company has a 50 day moving average of $101.66 and a two-hundred day moving average of $83.73.

Tenet Healthcare (NYSE:THC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $1.77. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. On average, analysts expect that Tenet Healthcare Co. will post 8.73 earnings per share for the current year.

Insider Buying and Selling at Tenet Healthcare

In related news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction dated 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 transaction, the executive vice president now owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tenet Healthcare news, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the sale, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,416 shares of company stock worth $5,890,793. 0.93% of the stock is owned by company insiders.

Analyst Ratings Changes

THC has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price 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. Wolfe Research upgraded Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target for the company in a report on Wednesday, March 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $104.00 price target on shares of Tenet Healthcare in a research report on Wednesday, April 10th. TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $130.00 price objective (up from $120.00) on shares of Tenet Healthcare in a research note on Wednesday, May 1st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $113.19.

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.