Bailard Inc. Makes New $657,000 Investment in Tenet Healthcare Co. (NYSE:THC)

Bailard Inc. acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, HoldingsChannel reports. The fund acquired 8,696 shares of the company’s stock, valued at approximately $657,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in Tenet Healthcare during the 4th quarter valued at $52,000. Sunbelt Securities Inc. bought a new stake in Tenet Healthcare in the third quarter valued at about $67,000. USA Financial Formulas acquired a new position in shares of Tenet Healthcare in the 3rd quarter worth approximately $92,000. CWM LLC increased its holdings in shares of Tenet Healthcare by 49.8% in the 3rd quarter. CWM LLC now owns 1,443 shares of the company’s stock valued at $95,000 after acquiring an additional 480 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Tenet Healthcare during the third quarter worth $152,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

Wall Street Analysts Forecast Growth

THC has been the topic of a number of research reports. Wells Fargo & Company increased their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Mizuho raised their target price on shares of Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $104.00 price target on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Truist Financial boosted their price objective on Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, TheStreet upgraded Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $100.38.

Tenet Healthcare Trading Down 1.4 %

Tenet Healthcare stock opened at $96.13 on Friday. The stock has a market capitalization of $9.54 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 3.12 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. Tenet Healthcare Co. has a 12-month low of $51.04 and a 12-month high of $107.80. The firm has a 50 day simple moving average of $98.22 and a 200-day simple moving average of $80.42.

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

Insider Activity

In related news, EVP Thomas W. Arnst sold 17,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the sale, the executive vice president now directly owns 8,148 shares of the company’s stock, valued at $772,756.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $94.84, for a total value of $1,612,280.00. Following the completion of the transaction, the executive vice president now directly owns 8,148 shares in the company, valued at approximately $772,756.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,268 shares of company stock worth $4,944,810. Corporate insiders own 0.93% 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.