Bridgewater Associates LP Purchases 28,486 Shares of Tenet Healthcare Co. (NYSE:THC)

Bridgewater Associates LP grew its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 29.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,123 shares of the company's stock after purchasing an additional 28,486 shares during the period. Bridgewater Associates LP owned about 0.13% of Tenet Healthcare worth $20,795,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Tenet Healthcare in the 2nd quarter valued at about $28,000. Plato Investment Management Ltd purchased a new stake in Tenet Healthcare during the 3rd quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new stake in Tenet Healthcare during the 3rd quarter valued at about $30,000. ORG Partners LLC purchased a new stake in Tenet Healthcare during the 2nd quarter valued at about $31,000. Finally, Blue Trust Inc. boosted its holdings in Tenet Healthcare by 93.0% during the 2nd quarter. Blue Trust Inc. now owns 249 shares of the company's stock valued at $33,000 after acquiring an additional 120 shares during the period. Institutional investors own 95.44% of the company's stock.

Insider Buying and Selling

In other Tenet Healthcare news, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the transaction, the executive vice president now directly owns 15,566 shares in the company, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Scott Ramsey sold 11,599 shares of the company's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the sale, the insider now owns 6,324 shares of the company's stock, valued at $1,024,867.44. This trade represents a 64.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Stock Down 2.5 %

NYSE THC traded down $3.66 during mid-day trading on Thursday, reaching $141.98. The stock had a trading volume of 1,278,798 shares, compared to its average volume of 1,232,247. The company has a fifty day moving average price of $157.82 and a 200 day moving average price of $148.41. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.58 and a quick ratio of 1.52. Tenet Healthcare Co. has a 1 year low of $65.90 and a 1 year high of $171.20. The stock has a market cap of $13.50 billion, a PE ratio of 4.55, a price-to-earnings-growth ratio of 0.64 and a beta of 2.15.

Tenet Healthcare (NYSE:THC - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The company had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.05 billion. During the same period last year, the firm posted $1.44 earnings per share. Tenet Healthcare's revenue was up 1.1% compared to the same quarter last year. On average, research analysts expect that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on THC shares. Raymond James cut Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective for the company. in a report on Friday, November 22nd. The Goldman Sachs Group increased their price objective on Tenet Healthcare from $173.00 to $196.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Wells Fargo & Company cut Tenet Healthcare from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $205.00 to $150.00 in a report on Monday. KeyCorp started coverage on Tenet Healthcare in a report on Friday, October 11th. They issued an "overweight" rating and a $200.00 price objective for the company. Finally, Cantor Fitzgerald increased their price objective on Tenet Healthcare from $168.00 to $177.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Tenet Healthcare presently has an average rating of "Buy" and a consensus target price of $168.19.

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.