Investors Buy High Volume of Tenet Healthcare Call Options (NYSE:THC)

Tenet Healthcare Co. (NYSE:THC) saw some unusual options trading on Tuesday. Stock investors acquired 3,041 call options on the stock. This represents an increase of 8% compared to the typical volume of 2,804 call options.

Tenet Healthcare Price Performance

THC stock traded up $12.29 during trading on Tuesday, hitting $111.44. The company had a trading volume of 2,369,886 shares, compared to its average volume of 1,149,787. The business has a 50 day moving average of $98.38 and a 200 day moving average of $81.03. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 4.77. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 3.08 and a beta of 2.08. Tenet Healthcare has a fifty-two week low of $51.04 and a fifty-two week high of $111.50.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $1.58 by $1.10. The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. Tenet Healthcare’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. As a group, research analysts predict that Tenet Healthcare will post 6.3 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. TheStreet raised Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Wolfe Research upgraded Tenet Healthcare from a “peer perform” rating to an “outperform” rating and set a $122.00 price target for the company in a report on Wednesday, March 27th. Barclays began coverage on shares of Tenet Healthcare in a research report on Wednesday, March 6th. They set an “overweight” rating and a $113.00 target price on the stock. Mizuho lifted their price target on shares of Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $104.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tenet Healthcare has an average rating of “Buy” and an average target price of $100.38.

Insider Buying and Selling at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now directly owns 20,127 shares in the company, valued at $1,775,402.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the sale, the director now directly owns 33,303 shares in the company, valued at $3,296,330.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Fisher sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the sale, 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 three months, insiders sold 51,268 shares of company stock worth $4,944,810. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Tenet Healthcare in the 4th quarter valued at $78,254,000. Glenview Capital Management LLC increased its holdings in shares of Tenet Healthcare by 12.8% in the fourth quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock worth $585,087,000 after acquiring an additional 877,180 shares in the last quarter. 8 Knots Management LLC acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth about $44,412,000. Wedge Capital Management L L P NC grew its position in shares of Tenet Healthcare by 1,265.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 468,158 shares of the company’s stock valued at $49,208,000 after purchasing an additional 433,877 shares during the period. Finally, Greenlight Capital Inc. raised its holdings in Tenet Healthcare by 44.3% during the 4th quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock worth $99,448,000 after buying an additional 404,190 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

About Tenet Healthcare

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.