Eversept Partners LP Purchases Shares of 29,512 Tenet Healthcare Corporation $THC

Eversept Partners LP acquired a new position in Tenet Healthcare Corporation (NYSE:THC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 29,512 shares of the company’s stock, valued at approximately $5,569,000.

A number of other large investors also recently added to or reduced their stakes in THC. Norges Bank purchased a new stake in Tenet Healthcare during the fourth quarter valued at about $248,494,000. Wellington Management Group LLP lifted its stake in shares of Tenet Healthcare by 1,114.2% in the 4th quarter. Wellington Management Group LLP now owns 1,135,801 shares of the company’s stock valued at $225,706,000 after acquiring an additional 1,042,260 shares during the last quarter. Boston Partners boosted its holdings in Tenet Healthcare by 38.8% during the 3rd quarter. Boston Partners now owns 3,147,555 shares of the company’s stock valued at $638,958,000 after acquiring an additional 880,413 shares during the period. AQR Capital Management LLC grew its position in Tenet Healthcare by 62.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,876,423 shares of the company’s stock worth $380,989,000 after acquiring an additional 720,160 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Tenet Healthcare by 375.7% in the second quarter. Alliancebernstein L.P. now owns 790,254 shares of the company’s stock valued at $139,085,000 after purchasing an additional 624,125 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Wall Street Analyst Weigh In

THC has been the subject of several analyst reports. Piper Sandler set a $308.00 price target on shares of Tenet Healthcare in a research report on Monday. Robert W. Baird lowered their price objective on shares of Tenet Healthcare from $245.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Barclays raised their target price on Tenet Healthcare from $240.00 to $271.00 and gave the stock an “overweight” rating in a research note on Friday. Guggenheim reduced their price target on Tenet Healthcare from $252.00 to $242.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Finally, KeyCorp dropped their price objective on Tenet Healthcare from $250.00 to $225.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $257.90.

Insiders Place Their Bets

In related news, Director Nadja West sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $177.35, for a total transaction of $532,050.00. Following the sale, the director owned 24,805 shares of the company’s stock, valued at $4,399,166.75. The trade was a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J Robert Kerrey sold 5,638 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $174.52, for a total value of $983,943.76. Following the completion of the sale, the director directly owned 16,804 shares in the company, valued at approximately $2,932,634.08. This represents a 25.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.97% of the company’s stock.

Tenet Healthcare Stock Performance

Shares of THC opened at $242.42 on Tuesday. The company has a 50-day simple moving average of $186.16 and a two-hundred day simple moving average of $197.79. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.41 and a quick ratio of 1.35. The firm has a market capitalization of $20.88 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27. Tenet Healthcare Corporation has a one year low of $151.00 and a one year high of $248.82.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Friday, July 24th. The company reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.26 by $1.86. Tenet Healthcare had a return on equity of 26.76% and a net margin of 10.27%.The firm had revenue of $6.04 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the company earned $4.02 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. On average, analysts anticipate that Tenet Healthcare Corporation will post 21 EPS for the current fiscal year.

Tenet Healthcare Profile

Tenet Healthcare Corporation (NYSE: THC) is a diversified American healthcare services company that owns and operates acute care hospitals and a broad range of outpatient facilities. Its portfolio includes general acute-care hospitals, specialty hospitals, ambulatory surgery centers, urgent care and diagnostic imaging centers, and other ancillary service locations. Tenet’s operations are oriented around delivering inpatient and outpatient clinical care across multiple medical specialties, with an emphasis on surgical services, emergency care, and advanced diagnostics.

In addition to facility-based care, Tenet provides integrated services designed to support clinical operations and improve patient access and care coordination.