Havemeyer Place LP acquired a new stake in shares of Tenet Healthcare Corporation (NYSE:THC – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,335 shares of the company’s stock, valued at approximately $2,054,000.
Several other institutional investors have also recently made changes to their positions in the stock. Boston Partners raised its holdings in shares of Tenet Healthcare by 38.8% during the third quarter. Boston Partners now owns 3,147,555 shares of the company’s stock valued at $638,958,000 after purchasing an additional 880,413 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Tenet Healthcare by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 2,119,423 shares of the company’s stock valued at $373,020,000 after purchasing an additional 157,109 shares during the period. AQR Capital Management LLC raised its holdings in shares of Tenet Healthcare by 62.3% during the third quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company’s stock valued at $380,989,000 after purchasing an additional 720,160 shares during the period. Norges Bank bought a new stake in shares of Tenet Healthcare during the fourth quarter worth about $248,494,000. Finally, Eminence Capital LP bought a new stake in shares of Tenet Healthcare during the third quarter worth about $225,263,000. Institutional investors and hedge funds own 95.44% of the company’s stock.
Tenet Healthcare Trading Up 0.5%
Shares of THC stock opened at $162.20 on Friday. Tenet Healthcare Corporation has a 52-week low of $146.60 and a 52-week high of $247.21. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.30 and a current ratio of 1.36. The company has a 50-day simple moving average of $186.17 and a two-hundred day simple moving average of $200.75. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 1.33 and a beta of 1.28.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on THC. Mizuho boosted their target price on shares of Tenet Healthcare from $235.00 to $265.00 and gave the stock an “outperform” rating in a research report on Thursday, March 12th. Royal Bank Of Canada decreased their target price on shares of Tenet Healthcare from $277.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Guggenheim decreased their target price on shares of Tenet Healthcare from $283.00 to $252.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Jefferies Financial Group boosted their target price on shares of Tenet Healthcare from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Finally, TD Cowen reissued a “buy” rating on shares of Tenet Healthcare in a research report on Thursday, February 12th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $244.16.
View Our Latest Stock Report on Tenet Healthcare
Insider Activity
In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,000 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $238.85, for a total value of $1,910,800.00. Following the completion of the sale, the executive vice president directly owned 12 shares of the company’s stock, valued at approximately $2,866.20. This represents a 99.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J Robert Kerrey sold 5,638 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $174.52, for a total transaction of $983,943.76. Following the completion of the transaction, the director owned 16,804 shares in the company, valued at approximately $2,932,634.08. The trade was a 25.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 23,138 shares of company stock valued at $4,976,589. 0.97% of the stock is currently owned by company insiders.
Tenet Healthcare Company Profile
Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.
In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.
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