Islay Capital Management LLC Makes New Investment in Tenet Healthcare Co. (NYSE:THC)

Islay Capital Management LLC bought a new stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,474 shares of the company's stock, valued at approximately $691,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of THC. Geode Capital Management LLC grew its position in shares of Tenet Healthcare by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 2,116,121 shares of the company's stock valued at $268,591,000 after purchasing an additional 71,454 shares during the last quarter. Norges Bank bought a new position in shares of Tenet Healthcare in the fourth quarter valued at approximately $190,819,000. Allianz Asset Management GmbH grew its holdings in shares of Tenet Healthcare by 15.1% during the fourth quarter. Allianz Asset Management GmbH now owns 577,143 shares of the company's stock worth $72,853,000 after purchasing an additional 75,688 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Tenet Healthcare in the fourth quarter valued at approximately $69,059,000. Finally, Victory Capital Management Inc. increased its stake in shares of Tenet Healthcare by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 507,055 shares of the company's stock valued at $64,006,000 after buying an additional 206,907 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Tenet Healthcare Price Performance

THC stock traded down $5.89 during midday trading on Thursday, reaching $125.18. 487,448 shares of the stock were exchanged, compared to its average volume of 1,522,206. 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 stock has a market capitalization of $11.91 billion, a PE ratio of 3.88, a P/E/G ratio of 1.02 and a beta of 1.77. Tenet Healthcare Co. has a 52 week low of $90.03 and a 52 week high of $171.20. The company has a fifty day moving average price of $130.52 and a 200 day moving average price of $140.18.

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

Insider Transactions at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total transaction of $1,194,720.75. Following the completion of the sale, the director now directly owns 27,378 shares of the company's stock, valued at approximately $3,434,022.54. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.93% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on THC shares. TD Cowen began coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They issued a "buy" rating and a $175.00 target price on the stock. Barclays reduced their price target 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. Truist Financial lowered their price target on 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 shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Finally, Morgan Stanley began coverage on shares of Tenet Healthcare in a research report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tenet Healthcare presently has a consensus rating of "Moderate Buy" and a consensus target price of $166.33.

Tenet Healthcare 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.