Stevens Capital Management LP Buys Shares of 1,943 Tenet Healthcare Co. (NYSE:THC)

Stevens Capital Management LP purchased a new stake in Tenet Healthcare Co. (NYSE:THC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,943 shares of the company's stock, valued at approximately $245,000.

Other institutional investors have also modified their holdings of the company. LPL Financial LLC raised its position in Tenet Healthcare by 40.6% during the fourth quarter. LPL Financial LLC now owns 67,136 shares of the company's stock valued at $8,475,000 after acquiring an additional 19,389 shares in the last quarter. Fox Run Management L.L.C. grew its stake in shares of Tenet Healthcare by 114.4% during the 4th quarter. Fox Run Management L.L.C. now owns 5,319 shares of the company's stock worth $671,000 after purchasing an additional 2,838 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Tenet Healthcare in the 4th quarter valued at $2,777,000. Hillsdale Investment Management Inc. boosted its holdings in Tenet Healthcare by 21.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 5,600 shares of the company's stock worth $707,000 after buying an additional 1,000 shares in the last quarter. Finally, Sei Investments Co. grew its position in Tenet Healthcare by 8.0% during the fourth quarter. Sei Investments Co. now owns 243,425 shares of the company's stock valued at $30,726,000 after buying an additional 18,077 shares during the period. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Buying and Selling at Tenet Healthcare

In related news, Director J Robert Kerrey sold 9,525 shares of the firm's stock in a transaction dated 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.93% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on THC shares. JPMorgan Chase & Co. reissued an "overweight" rating and set a $175.00 target price on shares of Tenet Healthcare in a research note on Tuesday, December 17th. StockNews.com upgraded Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Morgan Stanley initiated coverage on shares of Tenet Healthcare in a report on Wednesday. They issued an "overweight" rating and a $165.00 price target for the company. The Goldman Sachs Group lowered shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and dropped their target price for the company from $196.00 to $140.00 in a research report on Monday, December 16th. Finally, Truist Financial reduced their price target on shares of Tenet Healthcare from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $166.41.

Tenet Healthcare Trading Down 0.9 %

Shares of THC traded down $1.27 during midday trading on Friday, reaching $133.17. The company had a trading volume of 864,471 shares, compared to its average volume of 1,506,396. The firm has a 50 day simple moving average of $132.43 and a 200-day simple moving average of $142.50. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. The stock has a market cap of $12.67 billion, a PE ratio of 4.13, a price-to-earnings-growth ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a 1-year low of $90.03 and a 1-year high of $171.20.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $3.44 earnings per share for the quarter, beating 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%. Research analysts forecast that Tenet Healthcare Co. will post 12.24 EPS for the current fiscal year.

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.