Tenet Healthcare Co. (NYSE:THC) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 60.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 253,931 shares of the company's stock after purchasing an additional 96,106 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.27% of Tenet Healthcare worth $32,054,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in THC. FMR LLC grew its stake in shares of Tenet Healthcare by 88.0% in the third quarter. FMR LLC now owns 7,700,693 shares of the company's stock valued at $1,279,855,000 after buying an additional 3,604,161 shares in the last quarter. Geode Capital Management LLC increased its position in Tenet Healthcare by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,044,667 shares of the company's stock valued at $339,893,000 after acquiring an additional 390,316 shares during the period. Iron Triangle Partners LP purchased a new stake in Tenet Healthcare in the 3rd quarter valued at approximately $51,346,000. Allspring Global Investments Holdings LLC boosted its holdings in Tenet Healthcare by 344.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 317,198 shares of the company's stock worth $52,718,000 after buying an additional 245,875 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Tenet Healthcare during the 2nd quarter valued at about $27,454,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tenet Healthcare

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the business's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.93% of the stock is currently owned by insiders.

Tenet Healthcare Stock Down 1.4 %

Tenet Healthcare stock traded down $1.91 during trading hours on Friday, hitting $130.86. 747,352 shares of the stock traded hands, compared to its average volume of 1,002,232. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The company has a market cap of $12.44 billion, a PE ratio of 4.19, a PEG ratio of 0.58 and a beta of 2.06. The firm's 50-day moving average price is $138.39 and its two-hundred day moving average price is $147.95. Tenet Healthcare Co. has a one year low of $78.77 and a one year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.60. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. Tenet Healthcare had a net margin of 14.91% and a return on equity of 24.05%. The business's revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. On average, research analysts forecast that Tenet Healthcare Co. will post 11.37 EPS for the current year.

Analysts Set New Price Targets

THC has been the subject of a number of research reports. The Goldman Sachs Group downgraded Tenet Healthcare from a "buy" rating to a "neutral" rating and lowered their price target for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Barclays increased their price target on Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. Raymond James lowered shares of Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price target on the stock. in a research report on Friday, November 22nd. Finally, StockNews.com cut Tenet Healthcare from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $165.00.

Tenet Healthcare Company 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.