Sector Gamma AS Has $14.61 Million Holdings in Tenet Healthcare Co. (NYSE:THC)

Sector Gamma AS raised its position in shares of Tenet Healthcare Co. (NYSE:THC) by 22.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,279 shares of the company’s stock after purchasing an additional 35,304 shares during the period. Tenet Healthcare accounts for about 3.5% of Sector Gamma AS’s investment portfolio, making the stock its 12th largest position. Sector Gamma AS owned approximately 0.19% of Tenet Healthcare worth $14,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Tenet Healthcare by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,937,483 shares of the company’s stock worth $720,671,000 after purchasing an additional 63,253 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Tenet Healthcare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,724 shares of the company’s stock worth $67,651,000 after purchasing an additional 26,613 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Tenet Healthcare by 3.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 786,852 shares of the company’s stock valued at $51,846,000 after acquiring an additional 25,077 shares in the last quarter. BW Gestao de Investimentos Ltda. raised its stake in shares of Tenet Healthcare by 288.4% in the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 468,871 shares of the company’s stock valued at $30,894,000 after acquiring an additional 348,151 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Tenet Healthcare by 5.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 447,145 shares of the company’s stock valued at $29,462,000 after acquiring an additional 21,237 shares in the last quarter. 95.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Richard W. Fisher sold 2,100 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total transaction of $185,241.00. Following the transaction, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tenet Healthcare news, Director Richard W. Fisher sold 2,100 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paola M. Arbour sold 18,168 shares of Tenet Healthcare stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the transaction, the executive vice president now directly owns 29,803 shares in the company, valued at $2,889,698.88. The disclosure for this sale can be found here. Insiders have sold 51,268 shares of company stock valued at $4,944,810 over the last 90 days. 0.93% of the stock is owned by company insiders.

Tenet Healthcare Price Performance

NYSE:THC traded down $1.38 during trading hours on Friday, reaching $96.13. The company had a trading volume of 1,322,951 shares, compared to its average volume of 960,623. The stock has a 50-day moving average of $98.22 and a two-hundred day moving average of $80.42. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 4.77. The firm has a market capitalization of $9.54 billion, a PE ratio of 16.84, a PEG ratio of 3.12 and a beta of 2.08. Tenet Healthcare Co. has a one year low of $51.04 and a one year high of $107.80.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Thursday, February 8th. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $1.58 by $1.10. The company had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Tenet Healthcare had a return on equity of 26.34% and a net margin of 2.97%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 earnings per share. Analysts forecast that Tenet Healthcare Co. will post 6.3 earnings per share for the current year.

Analyst Ratings Changes

THC has been the topic of a number of recent analyst reports. Truist Financial raised their price objective on Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 9th. TheStreet raised Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Mizuho raised their price objective on Tenet Healthcare from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Barclays initiated coverage on Tenet Healthcare in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $113.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on Tenet Healthcare from $97.00 to $109.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $100.38.

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.