Tenet Healthcare Co. (NYSE:THC) Shares Purchased by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP lifted its stake in shares of Tenet Healthcare Co. (NYSE:THC) by 174.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,933 shares of the company’s stock after buying an additional 3,774 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Tenet Healthcare were worth $749,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of THC. New Wave Wealth Advisors LLC purchased a new stake in Tenet Healthcare in the fourth quarter valued at $343,000. Swedbank AB lifted its holdings in shares of Tenet Healthcare by 100.0% in the 4th quarter. Swedbank AB now owns 40,000 shares of the company’s stock valued at $5,049,000 after purchasing an additional 20,000 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tenet Healthcare in the 4th quarter valued at about $410,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Tenet Healthcare during the fourth quarter worth approximately $5,892,000. Finally, abrdn plc lifted its stake in Tenet Healthcare by 29.0% in the fourth quarter. abrdn plc now owns 98,229 shares of the company’s stock valued at $12,320,000 after buying an additional 22,066 shares during the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC opened at $159.32 on Thursday. The company has a market capitalization of $14.80 billion, a PE ratio of 4.94, a P/E/G ratio of 1.02 and a beta of 1.63. Tenet Healthcare Co. has a 52-week low of $109.82 and a 52-week high of $171.20. The company has a 50-day simple moving average of $131.24 and a 200-day simple moving average of $136.25. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $1.25. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.15 billion. During the same period last year, the firm earned $3.22 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts predict that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 5,001 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $148.50, for a total value of $742,648.50. Following the sale, the director now directly owns 22,377 shares of the company’s stock, valued at approximately $3,322,984.50. This represents a 18.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TD Cowen began coverage on shares of Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 target price on the stock. The Goldman Sachs Group upped their target price on shares of Tenet Healthcare from $134.00 to $154.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Barclays raised their price target on Tenet Healthcare from $161.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Finally, Baird R W lowered Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.94.

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.