Sivik Global Healthcare LLC Purchases 5,000 Shares of Tenet Healthcare Co. (NYSE:THC)

Sivik Global Healthcare LLC raised its position in shares of Tenet Healthcare Co. (NYSE:THC) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,000 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. Tenet Healthcare makes up about 4.6% of Sivik Global Healthcare LLC’s holdings, making the stock its 2nd largest holding. Sivik Global Healthcare LLC owned 0.14% of Tenet Healthcare worth $10,958,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BW Gestao de Investimentos Ltda. raised its holdings in 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 during the last quarter. Polar Capital Holdings Plc lifted its position in Tenet Healthcare by 211.8% during the third quarter. Polar Capital Holdings Plc now owns 336,403 shares of the company’s stock worth $22,166,000 after buying an additional 228,508 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Tenet Healthcare by 7,151.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 189,259 shares of the company’s stock valued at $12,470,000 after buying an additional 186,649 shares in the last quarter. abrdn plc purchased a new position in shares of Tenet Healthcare during the 4th quarter worth $11,265,000. Finally, Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Tenet Healthcare by 139.6% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 225,373 shares of the company’s stock valued at $17,031,000 after purchasing an additional 131,300 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Up 13.3 %

Shares of NYSE THC traded up $13.15 during mid-day trading on Tuesday, hitting $112.30. The company had a trading volume of 3,866,059 shares, compared to its average volume of 1,167,617. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $112.30. The company has a market capitalization of $11.14 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 3.08 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The business’s 50-day simple moving average is $98.38 and its 200 day simple moving average is $81.03.

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

Insider Transactions at Tenet Healthcare

In other news, EVP Paola M. Arbour sold 18,168 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total transaction of $1,761,569.28. Following the completion of the transaction, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at approximately $2,889,698.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tenet Healthcare news, Director Richard J. Mark sold 14,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $98.98, for a total value of $1,385,720.00. Following the completion of the transaction, the director now owns 33,303 shares in the company, valued at $3,296,330.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paola M. Arbour sold 18,168 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the sale, the executive vice president now directly owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The disclosure for this sale can be found here. In the last three months, insiders sold 51,268 shares of company stock valued at $4,944,810. Insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a report on Friday, April 12th. Barclays started coverage on Tenet Healthcare in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $113.00 price objective for the company. Royal Bank of Canada upped their price target on Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Wells Fargo & Company raised their price objective on Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, TheStreet raised shares of Tenet Healthcare from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $100.38.

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.