Quinn Opportunity Partners LLC Buys New Holdings in Tenet Healthcare Co. (NYSE:THC)

Quinn Opportunity Partners LLC purchased a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,000 shares of the company's stock, valued at approximately $379,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Captrust Financial Advisors boosted its holdings in Tenet Healthcare by 80.7% in the third quarter. Captrust Financial Advisors now owns 2,747 shares of the company's stock valued at $456,000 after purchasing an additional 1,227 shares during the period. HighTower Advisors LLC raised its position in Tenet Healthcare by 12.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,036 shares of the company's stock worth $1,161,000 after buying an additional 758 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Tenet Healthcare in the 3rd quarter worth approximately $231,000. MML Investors Services LLC lifted its holdings in Tenet Healthcare by 3.8% in the 3rd quarter. MML Investors Services LLC now owns 11,409 shares of the company's stock valued at $1,896,000 after purchasing an additional 417 shares in the last quarter. Finally, M&T Bank Corp increased its position in Tenet Healthcare by 6.2% during the third quarter. M&T Bank Corp now owns 6,754 shares of the company's stock worth $1,122,000 after purchasing an additional 393 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 news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now owns 27,378 shares in the company, valued at $3,434,022.54. This trade represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.93% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently commented on THC shares. Morgan Stanley began coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They issued an "overweight" rating and a $165.00 price target on the stock. Baird R W downgraded shares of Tenet Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Robert W. Baird restated a "neutral" rating and issued a $137.00 price target (down previously from $153.00) on shares of Tenet Healthcare in a research report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating and set a $177.00 price objective on shares of Tenet Healthcare in a report on Thursday, February 13th. Finally, StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Tenet Healthcare has an average rating of "Moderate Buy" and an average target price of $165.44.

Tenet Healthcare Stock Down 0.4 %

Shares of THC traded down $0.50 during trading hours on Wednesday, hitting $120.41. The stock had a trading volume of 1,106,685 shares, compared to its average volume of 1,518,940. The firm has a market capitalization of $11.45 billion, a P/E ratio of 3.74, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. The firm has a 50 day simple moving average of $128.99 and a 200-day simple moving average of $139.03. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. Sell-side analysts predict that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

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.