Tenet Healthcare Co. (NYSE:THC) Shares Acquired by Bamco Inc. NY

Bamco Inc. NY grew its stake in shares of Tenet Healthcare Co. (NYSE:THC - Free Report) by 100.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the company's stock after buying an additional 12,500 shares during the period. Bamco Inc. NY's holdings in Tenet Healthcare were worth $4,155,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in Tenet Healthcare by 88.0% in the 3rd quarter. FMR LLC now owns 7,700,693 shares of the company's stock worth $1,279,855,000 after purchasing an additional 3,604,161 shares in the last quarter. Marshall Wace LLP lifted its holdings in Tenet Healthcare by 7.3% in the 2nd quarter. Marshall Wace LLP now owns 713,979 shares of the company's stock worth $94,981,000 after purchasing an additional 48,626 shares in the last quarter. Farallon Capital Management LLC lifted its holdings in Tenet Healthcare by 7.8% in the 2nd quarter. Farallon Capital Management LLC now owns 687,442 shares of the company's stock worth $91,450,000 after purchasing an additional 50,000 shares in the last quarter. Integral Health Asset Management LLC lifted its holdings in Tenet Healthcare by 17.6% in the 2nd quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company's stock worth $66,515,000 after purchasing an additional 75,000 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Tenet Healthcare by 35.2% in the 2nd quarter. AQR Capital Management LLC now owns 341,250 shares of the company's stock worth $45,396,000 after purchasing an additional 88,781 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Tenet Healthcare Stock Up 0.2 %

Shares of THC traded up $0.24 during midday trading on Wednesday, reaching $141.51. 641,327 shares of the stock were exchanged, compared to its average volume of 1,224,805. Tenet Healthcare Co. has a 52 week low of $67.78 and a 52 week high of $171.20. The company has a current ratio of 1.58, a quick ratio of 1.52 and a debt-to-equity ratio of 2.35. The company's 50 day moving average is $155.85 and its two-hundred day moving average is $148.92. The company has a market capitalization of $13.46 billion, a P/E ratio of 4.53, a PEG ratio of 0.64 and a beta of 2.06.

Tenet Healthcare (NYSE:THC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $2.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.33 by $0.60. Tenet Healthcare had a return on equity of 24.05% and a net margin of 14.91%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the company earned $1.44 EPS. The business's revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Tenet Healthcare Co. will post 11.38 earnings per share for the current year.

Insider Buying and Selling

In other Tenet Healthcare news, insider R. Scott Ramsey sold 11,599 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $162.06, for a total value of $1,879,733.94. Following the completion of the sale, the insider now directly owns 6,324 shares in the company, valued at approximately $1,024,867.44. This trade represents a 64.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa Y. Foo sold 4,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $155.94, for a total value of $623,760.00. Following the completion of the sale, the executive vice president now owns 15,566 shares of the company's stock, valued at approximately $2,427,362.04. This trade represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on THC. Barclays boosted their price target on Tenet Healthcare from $171.00 to $190.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. KeyCorp began coverage on Tenet Healthcare in a report on Friday, October 11th. They set an "overweight" rating and a $200.00 price objective on the stock. UBS Group upped their price objective on Tenet Healthcare from $197.00 to $217.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on Tenet Healthcare from $174.00 to $183.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, Raymond James cut Tenet Healthcare from a "strong-buy" rating to an "outperform" rating and set a $195.00 price objective on the stock. in a report on Friday, November 22nd. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $168.19.

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.