Tenet Healthcare Co. (NYSE:THC) Shares Acquired by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC boosted its position in Tenet Healthcare Co. (NYSE:THC) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,685 shares of the company’s stock after buying an additional 145 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Tenet Healthcare were worth $656,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of THC. GAMMA Investing LLC acquired a new stake in shares of Tenet Healthcare during the 4th quarter valued at approximately $52,000. Sunbelt Securities Inc. bought a new position in shares of Tenet Healthcare in the 3rd quarter worth about $67,000. USA Financial Formulas bought a new stake in shares of Tenet Healthcare during the 3rd quarter valued at about $92,000. CWM LLC raised its stake in Tenet Healthcare by 49.8% during the third quarter. CWM LLC now owns 1,443 shares of the company’s stock worth $95,000 after acquiring an additional 480 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Tenet Healthcare in the third quarter valued at approximately $152,000. Institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the transaction, the executive vice president now owns 29,803 shares in the company, valued at $2,889,698.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard J. Mark sold 14,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the sale, the director now directly owns 33,303 shares of the company’s stock, valued at $3,296,330.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,268 shares of company stock valued at $4,944,810. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $99.15 on Tuesday. Tenet Healthcare Co. has a 52 week low of $51.04 and a 52 week high of $107.80. 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 company’s 50-day moving average price is $98.38 and its two-hundred day moving average price is $81.03. The stock has a market cap of $9.83 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 3.08 and a beta of 2.08.

Tenet Healthcare (NYSE:THC) last issued its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. The firm had revenue of $5.38 billion during 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%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.96 earnings per share. As a group, sell-side analysts anticipate that Tenet Healthcare Co. will post 6.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

THC has been the topic of several recent research reports. TheStreet raised Tenet Healthcare from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. Royal Bank of Canada upped their price target on shares of Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $104.00 price objective on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Wells Fargo & Company raised their price target on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Mizuho boosted their price objective on Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $100.38.

Tenet Healthcare Company 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.