Bridgewater Associates LP Purchases 282,071 Shares of Tenet Healthcare Co. (NYSE:THC)

Bridgewater Associates LP lifted its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 225.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 407,194 shares of the company's stock after acquiring an additional 282,071 shares during the quarter. Bridgewater Associates LP owned 0.43% of Tenet Healthcare worth $51,400,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of THC. New Wave Wealth Advisors LLC purchased a new position in Tenet Healthcare in the 4th quarter worth about $343,000. Swedbank AB raised its holdings in shares of Tenet Healthcare by 100.0% during the fourth quarter. Swedbank AB now owns 40,000 shares of the company's stock valued at $5,049,000 after acquiring an additional 20,000 shares during the period. Signet Financial Management LLC acquired a new position in Tenet Healthcare in the 4th quarter worth approximately $1,526,000. China Universal Asset Management Co. Ltd. purchased a new position in Tenet Healthcare during the 4th quarter worth approximately $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Tenet Healthcare in the fourth quarter valued at $5,892,000. 95.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tenet Healthcare

In other news, Director J Robert Kerrey sold 9,525 shares of the company'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 sale, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.93% of the stock is owned by insiders.

Tenet Healthcare Stock Performance

Shares of NYSE THC traded up $1.03 during trading hours on Friday, hitting $121.47. 968,650 shares of the stock were exchanged, compared to its average volume of 1,511,401. The firm has a market capitalization of $11.46 billion, a P/E ratio of 3.77, a P/E/G ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a one year low of $90.03 and a one 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. The company's 50 day moving average is $127.88 and its 200 day moving average is $138.14.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 EPS 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%. On average, research analysts expect that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on THC. Guggenheim began coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They issued a "buy" rating and a $165.00 price objective for the company. Barclays decreased their price target on shares of Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Truist Financial decreased their target price on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, January 6th. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Finally, TD Cowen assumed coverage on Tenet Healthcare in a research report on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Tenet Healthcare has a consensus rating of "Moderate Buy" and an average price target of $165.44.

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.