129,200 Shares in Tenet Healthcare Co. (NYSE:THC) Purchased by Rock Springs Capital Management LP

Rock Springs Capital Management LP acquired a new position in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 129,200 shares of the company's stock, valued at approximately $16,309,000. Rock Springs Capital Management LP owned 0.14% of Tenet Healthcare at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new stake in Tenet Healthcare in the 4th quarter valued at $343,000. Swedbank AB boosted its position in shares of Tenet Healthcare by 100.0% in 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 bought a new position in Tenet Healthcare during the fourth quarter worth about $1,526,000. China Universal Asset Management Co. Ltd. bought a new stake in Tenet Healthcare in the 4th quarter valued at about $410,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Tenet Healthcare during the 4th quarter worth approximately $5,892,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tenet Healthcare news, Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $125.43, for a total value 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. The trade was a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.93% of the stock is currently owned by company insiders.

Tenet Healthcare Trading Up 2.6 %

Tenet Healthcare stock traded up $3.13 during mid-day trading on Thursday, hitting $124.18. 1,078,603 shares of the stock were exchanged, compared to its average volume of 1,518,203. The firm's fifty day simple moving average is $126.77 and its two-hundred day simple moving average is $137.22. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a 12 month low of $92.01 and a 12 month high of $171.20. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 3.85, a PEG ratio of 1.02 and a beta of 1.77.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 EPS for the quarter, beating analysts' consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. Analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on THC shares. Guggenheim assumed coverage on Tenet Healthcare in a research note on Wednesday, April 9th. They set a "buy" rating and a $165.00 price objective on the stock. TD Cowen assumed coverage on shares of Tenet Healthcare in a research report on Wednesday, February 26th. They set a "buy" rating and a $175.00 price objective for the company. StockNews.com upgraded shares of Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Cantor Fitzgerald reissued an "overweight" rating and issued a $177.00 price objective on shares of Tenet Healthcare in a research note on Thursday, February 13th. Finally, Morgan Stanley started coverage on Tenet Healthcare in a research note on Wednesday, March 26th. They set an "overweight" rating and a $165.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $165.44.

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.