One Way Holdings LLC grew its stake in shares of Tenet Healthcare Corporation (NYSE:THC – Free Report) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,380 shares of the company’s stock after acquiring an additional 5,324 shares during the period. Tenet Healthcare comprises about 1.2% of One Way Holdings LLC’s holdings, making the stock its 29th biggest position. One Way Holdings LLC’s holdings in Tenet Healthcare were worth $26,164,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of THC. Manning & Napier Advisors LLC acquired a new position in Tenet Healthcare during the second quarter worth $168,761,000. Bank of New York Mellon Corp acquired a new stake in Tenet Healthcare in the second quarter valued at $106,342,000. Hsbc Holdings PLC grew its holdings in Tenet Healthcare by 3,478.7% in the fourth quarter. Hsbc Holdings PLC now owns 266,400 shares of the company’s stock valued at $53,269,000 after purchasing an additional 258,956 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Tenet Healthcare by 57.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 671,700 shares of the company’s stock valued at $126,757,000 after buying an additional 244,901 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Tenet Healthcare by 535.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 127,677 shares of the company’s stock worth $24,094,000 after buying an additional 107,600 shares during the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Tenet Healthcare
In related news, EVP Lisa Foo sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $266.32, for a total transaction of $6,391,680.00. Following the transaction, the executive vice president owned 8,053 shares of the company’s stock, valued at approximately $2,144,674.96. This represents a 74.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard Mark sold 10,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $263.42, for a total value of $2,634,200.00. Following the completion of the transaction, the director owned 25,121 shares of the company’s stock, valued at $6,617,373.82. This trade represents a 28.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 106,484 shares of company stock valued at $28,898,063. 0.97% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on THC. Cantor Fitzgerald reissued an “overweight” rating on shares of Tenet Healthcare in a research note on Friday, October 2nd. Stephens restated an “overweight” rating and set a $285.00 target price on shares of Tenet Healthcare in a research report on Monday, July 27th. Mizuho set a $290.00 price target on shares of Tenet Healthcare in a report on Monday, August 10th. Weiss Ratings upgraded shares of Tenet Healthcare from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Truist Financial raised their price objective on shares of Tenet Healthcare from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tenet Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.16.
Read Our Latest Analysis on THC
Tenet Healthcare Price Performance
THC opened at $273.25 on Monday. The firm has a market cap of $21.75 billion, a P/E ratio of 7.92, a PEG ratio of 1.03 and a beta of 1.20. The business’s fifty day simple moving average is $264.85 and its 200 day simple moving average is $220.34. Tenet Healthcare Corporation has a 52 week low of $157.58 and a 52 week high of $283.05. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 1.76.
Tenet Healthcare (NYSE:THC – Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $4.68 by $1.96. The firm had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $5.49 billion. Tenet Healthcare had a net margin of 13.09% and a return on equity of 28.22%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.70 EPS. As a group, equities research analysts anticipate that Tenet Healthcare Corporation will post 21.98 EPS for the current fiscal year.
About Tenet Healthcare
Tenet Healthcare Corp. (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. Through its hospital operations and outpatient platforms, the company provides a range of medical services to patients across the United States.
Tenet operates acute care and specialty hospitals, ambulatory surgery centers, imaging facilities and other outpatient care sites. Its United Surgical Partners International subsidiary is a major provider of ambulatory surgery services and partners with physicians and health systems.
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