Sector Gamma AS Acquires 35,304 Shares of Tenet Healthcare Co. (NYSE:THC)

Sector Gamma AS raised its holdings in shares of Tenet Healthcare Co. (NYSE:THC) by 22.3% in the 4th quarter, Holdings Channel reports. The firm owned 193,279 shares of the company’s stock after purchasing an additional 35,304 shares during the quarter. Tenet Healthcare accounts for 3.5% of Sector Gamma AS’s holdings, making the stock its 12th biggest holding. Sector Gamma AS’s holdings in Tenet Healthcare were worth $14,606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Russell Investments Group Ltd. lifted its position in shares of Tenet Healthcare by 1.6% during the fourth quarter. Russell Investments Group Ltd. now owns 195,386 shares of the company’s stock worth $14,766,000 after purchasing an additional 3,009 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $385,000. Bailard Inc. bought a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $657,000. Yousif Capital Management LLC raised its holdings in shares of Tenet Healthcare by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock valued at $3,236,000 after acquiring an additional 131 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Tenet Healthcare in the fourth quarter valued at about $52,000. 95.44% of the stock is currently owned by institutional investors.

Insider Activity at Tenet Healthcare

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $94.84, for a total value of $1,612,280.00. Following the completion of the sale, the executive vice president now directly owns 8,148 shares in the company, valued at approximately $772,756.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the transaction, the executive vice president now directly owns 8,148 shares in the company, valued at approximately $772,756.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,268 shares of company stock valued at $4,944,810. 0.93% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Mizuho boosted their target price on shares of Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Wolfe Research upgraded shares of Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 target price for the company in a report on Wednesday, March 27th. TheStreet upgraded Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Royal Bank of Canada boosted their price target on Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, Barclays started coverage on Tenet Healthcare in a research note on Wednesday, March 6th. They set an “overweight” rating and a $113.00 price target on the stock. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $100.38.

Tenet Healthcare Price Performance

Shares of THC stock traded down $1.38 during trading hours on Friday, hitting $96.13. 1,322,951 shares of the company’s stock were exchanged, compared to its average volume of 960,623. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 4.77. The firm has a market cap of $9.54 billion, a P/E ratio of 16.84, a P/E/G ratio of 3.12 and a beta of 2.08. The firm has a 50 day moving average of $98.22 and a two-hundred day moving average of $80.42. Tenet Healthcare Co. has a fifty-two week low of $51.04 and a fifty-two week high of $107.80.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.68 EPS for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The firm had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the company earned $1.96 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that Tenet Healthcare Co. will post 6.3 EPS for the current year.

Tenet Healthcare Company 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.