GAMMA Investing LLC Has $192,000 Holdings in Tenet Healthcare Corporation (NYSE:THC)

GAMMA Investing LLC lifted its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 28.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,430 shares of the company’s stock after buying an additional 314 shares during the quarter. GAMMA Investing LLC’s holdings in Tenet Healthcare were worth $192,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Tenet Healthcare by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company’s stock valued at $268,591,000 after acquiring an additional 71,454 shares during the last quarter. Norges Bank bought a new stake in Tenet Healthcare in the fourth quarter valued at about $190,819,000. Dimensional Fund Advisors LP lifted its stake in Tenet Healthcare by 22.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock valued at $188,524,000 after buying an additional 272,906 shares during the period. AQR Capital Management LLC grew its position in shares of Tenet Healthcare by 20.8% during the 4th quarter. AQR Capital Management LLC now owns 872,117 shares of the company’s stock worth $110,087,000 after buying an additional 150,361 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Tenet Healthcare by 22.0% in the 4th quarter. Northern Trust Corp now owns 848,049 shares of the company’s stock valued at $107,049,000 after acquiring an additional 152,671 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 9,786 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $166.00, for a total transaction of $1,624,476.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James L. Bierman sold 13,836 shares of Tenet Healthcare stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $159.58, for a total value of $2,207,948.88. Following the transaction, the director owned 41,435 shares of the company’s stock, valued at $6,612,197.30. This represents a 25.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,121 shares of company stock valued at $8,846,305 in the last ninety days. 0.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on THC shares. Stephens upgraded shares of Tenet Healthcare to a “strong-buy” rating in a report on Monday, June 2nd. Guggenheim initiated coverage on shares of Tenet Healthcare in a research report on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price objective for the company. Truist Financial lifted their target price on Tenet Healthcare from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Baird R W downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada lifted their price objective on Tenet Healthcare from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.94.

Tenet Healthcare Stock Down 0.4%

Shares of THC stock opened at $171.50 on Friday. The firm’s fifty day moving average price is $161.59 and its two-hundred day moving average price is $140.63. Tenet Healthcare Corporation has a 1 year low of $109.82 and a 1 year high of $178.76. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.23. The firm has a market capitalization of $15.93 billion, a P/E ratio of 11.34, a PEG ratio of 1.26 and a beta of 1.64.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating the consensus estimate of $3.11 by $1.25. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.22 earnings per share. On average, equities analysts predict that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

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.