Dorsey Wright & Associates boosted its position in Tenet Healthcare Corporation (NYSE:THC – Free Report) by 29.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,990 shares of the company’s stock after buying an additional 15,895 shares during the period. Tenet Healthcare makes up about 1.6% of Dorsey Wright & Associates’ holdings, making the stock its 19th biggest position. Dorsey Wright & Associates owned approximately 0.08% of Tenet Healthcare worth $13,208,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in THC. Triumph Capital Management purchased a new position in shares of Tenet Healthcare in the 3rd quarter valued at about $25,000. Activest Wealth Management purchased a new position in Tenet Healthcare in the fourth quarter valued at about $26,000. Elyxium Wealth LLC acquired a new stake in shares of Tenet Healthcare during the 4th quarter valued at approximately $29,000. Canada Pension Plan Investment Board acquired a new stake in shares of Tenet Healthcare in the 2nd quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. increased its stake in Tenet Healthcare by 146.2% in the 4th quarter. Meeder Asset Management Inc. now owns 192 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.
Tenet Healthcare Stock Down 2.2%
Shares of NYSE THC opened at $194.89 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.36 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $16.79 billion, a PE ratio of 10.13, a P/E/G ratio of 1.65 and a beta of 1.27. The firm has a fifty day moving average of $184.35 and a 200-day moving average of $197.48. Tenet Healthcare Corporation has a 52-week low of $146.60 and a 52-week high of $247.21.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on THC shares. Robert W. Baird dropped their price target on Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Weiss Ratings downgraded shares of Tenet Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Barclays upped their price target on shares of Tenet Healthcare from $238.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. KeyCorp lowered their price target on shares of Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, Guggenheim cut their price objective on Tenet Healthcare from $283.00 to $252.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.37.
Read Our Latest Stock Report on THC
Insider Buying and Selling
In other Tenet Healthcare news, Director Nadja West sold 3,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total transaction of $532,050.00. Following the transaction, the director directly owned 24,805 shares in the company, valued at $4,399,166.75. This represents a 10.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J Robert Kerrey sold 5,638 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total transaction of $983,943.76. Following the transaction, the director directly owned 16,804 shares of the company’s stock, valued at approximately $2,932,634.08. This represents a 25.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.97% of the company’s stock.
Tenet Healthcare 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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