Fox Run Management L.L.C. increased its position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 114.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,319 shares of the company's stock after buying an additional 2,838 shares during the period. Fox Run Management L.L.C.'s holdings in Tenet Healthcare were worth $671,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its holdings in Tenet Healthcare by 88.0% during the third quarter. FMR LLC now owns 7,700,693 shares of the company's stock valued at $1,279,855,000 after acquiring an additional 3,604,161 shares during the period. Wealthfront Advisers LLC bought a new stake in Tenet Healthcare during the 4th quarter valued at approximately $69,059,000. 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 worth $339,893,000 after buying an additional 390,316 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Tenet Healthcare during the fourth quarter worth approximately $49,001,000. Finally, Iron Triangle Partners LP acquired a new stake in shares of Tenet Healthcare in the third quarter worth $51,346,000. 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 company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.93% of the company's stock.
Tenet Healthcare Price Performance
Shares of NYSE THC traded down $1.27 during mid-day trading on Friday, hitting $133.17. 864,471 shares of the stock were exchanged, compared to its average volume of 1,506,396. The company has a market cap of $12.67 billion, a P/E ratio of 4.13, a PEG ratio of 1.02 and a beta of 2.06. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78. Tenet Healthcare Co. has a twelve month low of $90.03 and a twelve month high of $171.20. The stock's fifty day simple moving average is $132.43 and its two-hundred day simple moving average is $142.50.
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%. As a group, analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. KeyCorp decreased their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group downgraded Tenet Healthcare from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $196.00 to $140.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $175.00 price objective on shares of Tenet Healthcare in a research report on Tuesday, December 17th. Barclays lowered their price objective on Tenet Healthcare from $190.00 to $161.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Finally, StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $166.41.
Read Our Latest Stock Analysis on THC
Tenet Healthcare Company Profile
(
Free Report)
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.
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