Traders Buy Large Volume of Call Options on Tenet Healthcare (NYSE:THC)

Tenet Healthcare Co. (NYSE:THC) saw unusually large options trading activity on Tuesday. Investors acquired 3,041 call options on the company. This represents an increase of 8% compared to the average daily volume of 2,804 call options.

Insider Buying and Selling

In related news, Director Richard W. Fisher sold 2,100 shares of Tenet Healthcare stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the completion of the sale, the director now directly owns 20,127 shares in the company, valued at approximately $1,775,402.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Richard W. Fisher sold 2,100 shares of the 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 transaction, the director now directly owns 20,127 shares of the company’s stock, valued at approximately $1,775,402.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The disclosure for this sale can be found here. Insiders sold a total of 51,268 shares of company stock worth $4,944,810 in the last three months. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Tenet Healthcare during the 4th quarter worth approximately $78,254,000. Glenview Capital Management LLC boosted its position in shares of Tenet Healthcare by 12.8% in the 4th quarter. Glenview Capital Management LLC now owns 7,742,322 shares of the company’s stock worth $585,087,000 after purchasing an additional 877,180 shares in the last quarter. 8 Knots Management LLC acquired a new position in Tenet Healthcare during the 4th quarter valued at about $44,412,000. Wedge Capital Management L L P NC boosted its holdings in Tenet Healthcare by 1,265.6% in the first quarter. Wedge Capital Management L L P NC now owns 468,158 shares of the company’s stock worth $49,208,000 after acquiring an additional 433,877 shares in the last quarter. Finally, Greenlight Capital Inc. increased its holdings in shares of Tenet Healthcare by 44.3% during the fourth quarter. Greenlight Capital Inc. now owns 1,315,970 shares of the company’s stock valued at $99,448,000 after acquiring an additional 404,190 shares in the last quarter. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Tenet Healthcare Price Performance

Tenet Healthcare stock traded up $12.29 during mid-day trading on Tuesday, reaching $111.44. 2,369,886 shares of the company’s stock traded hands, compared to its average volume of 1,149,787. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 3.08 and a beta of 2.08. Tenet Healthcare has a 12-month low of $51.04 and a 12-month high of $111.50. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 4.77. The stock has a 50 day moving average of $98.38 and a two-hundred day moving average of $81.03.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on THC. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. 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 research report on Wednesday, March 27th. Barclays initiated coverage on Tenet Healthcare in a research report on Wednesday, March 6th. They set an “overweight” rating and a $113.00 price objective on the stock. 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $104.00 price target on shares of Tenet Healthcare in a research report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $100.38.

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.