SummerHaven Investment Management LLC Boosts Stock Holdings in Tenet Healthcare Co. (NYSE:THC)

SummerHaven Investment Management LLC lifted its stake in Tenet Healthcare Co. (NYSE:THC) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,685 shares of the company’s stock after acquiring an additional 145 shares during the period. SummerHaven Investment Management LLC’s holdings in Tenet Healthcare were worth $656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in THC. Vanguard Group Inc. increased its holdings in Tenet Healthcare by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock worth $720,671,000 after acquiring an additional 63,253 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Tenet Healthcare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,724 shares of the company’s stock valued at $67,651,000 after acquiring an additional 26,613 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Tenet Healthcare by 3.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 786,852 shares of the company’s stock valued at $51,846,000 after purchasing an additional 25,077 shares during the last quarter. BW Gestao de Investimentos Ltda. lifted its stake in Tenet Healthcare by 288.4% during the third quarter. BW Gestao de Investimentos Ltda. now owns 468,871 shares of the company’s stock worth $30,894,000 after purchasing an additional 348,151 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of Tenet Healthcare by 5.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 447,145 shares of the company’s stock valued at $29,462,000 after purchasing an additional 21,237 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors.

Tenet Healthcare Stock Performance

Shares of NYSE THC opened at $99.15 on Tuesday. The company has a market cap of $9.83 billion, a PE ratio of 17.36, a PEG ratio of 3.08 and a beta of 2.08. The firm’s 50-day moving average price is $98.38 and its 200-day moving average price is $81.03. Tenet Healthcare Co. has a 52-week low of $51.04 and a 52-week high of $107.80. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 4.77.

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

Wall Street Analyst Weigh In

THC has been the topic of a number of analyst reports. TheStreet upgraded shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Royal Bank of Canada boosted their target price on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a report on Friday, February 9th. 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 price target for the company. Wells Fargo & Company raised their target price 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 lifted their price objective on Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $100.38.

Insider Activity

In other Tenet Healthcare 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 value of $1,612,280.00. Following the transaction, the executive vice president now directly owns 8,148 shares in the company, valued at $772,756.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Thomas W. Arnst sold 17,000 shares of the firm’s 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 transaction, the executive vice president now owns 8,148 shares of the company’s stock, valued at $772,756.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were 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 in the company, valued at $1,775,402.67. The disclosure for this sale can be found here. Insiders sold 51,268 shares of company stock valued at $4,944,810 in the last quarter. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare 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.