Rhenman & Partners Asset Management AB Has $24.96 Million Stock Position in Tenet Healthcare Co. (NYSE:THC)

Rhenman & Partners Asset Management AB decreased its holdings in Tenet Healthcare Co. (NYSE:THC - Free Report) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,700 shares of the company's stock after selling 23,700 shares during the quarter. Tenet Healthcare comprises approximately 2.6% of Rhenman & Partners Asset Management AB's portfolio, making the stock its 10th biggest position. Rhenman & Partners Asset Management AB owned 0.21% of Tenet Healthcare worth $24,956,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. WR Wealth Planners LLC boosted its position in shares of Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company's stock valued at $41,000 after purchasing an additional 312 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Tenet Healthcare by 30.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 471 shares of the company's stock worth $59,000 after buying an additional 110 shares during the period. Kestra Investment Management LLC purchased a new position in Tenet Healthcare during the 4th quarter valued at about $60,000. Wilmington Savings Fund Society FSB grew its holdings in Tenet Healthcare by 1,352.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 523 shares of the company's stock worth $66,000 after purchasing an additional 487 shares during the period. Finally, Spire Wealth Management increased its stake in shares of Tenet Healthcare by 19.5% during the fourth quarter. Spire Wealth Management now owns 558 shares of the company's stock valued at $70,000 after purchasing an additional 91 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of research firms recently weighed in on THC. Morgan Stanley started coverage on Tenet Healthcare in a research report on Wednesday, March 26th. They set an "overweight" rating and a $165.00 price objective for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $177.00 price target on shares of Tenet Healthcare in a research report on Thursday, February 13th. Guggenheim started coverage on shares of Tenet Healthcare in a research note on Wednesday. They set a "buy" rating and a $165.00 price objective for the company. The Goldman Sachs Group cut shares of Tenet Healthcare from a "buy" rating to a "neutral" rating and cut their price target for the company from $196.00 to $140.00 in a report on Monday, December 16th. Finally, StockNews.com raised Tenet Healthcare from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $166.33.

Tenet Healthcare Price Performance

THC stock traded down $6.86 during trading on Thursday, reaching $124.21. The company's stock had a trading volume of 494,849 shares, compared to its average volume of 1,522,445. The company has a market capitalization of $11.81 billion, a P/E ratio of 3.85, a price-to-earnings-growth ratio of 1.02 and a beta of 1.77. 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 company's fifty day moving average is $130.52 and its 200-day moving average is $140.18. 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, topping the consensus estimate of $2.95 by $0.49. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. On average, research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Insider Activity

In related news, Director J Robert Kerrey sold 9,525 shares of the company's stock in a transaction dated 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.93% of the company's stock.

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.