Sherbrooke Park Advisers LLC Takes Position in Tenet Healthcare Co. (NYSE:THC)

Sherbrooke Park Advisers LLC acquired a new stake in Tenet Healthcare Co. (NYSE:THC) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 7,708 shares of the company’s stock, valued at approximately $973,000.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth $190,819,000. Wealthfront Advisers LLC acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth $69,059,000. Raymond James Financial Inc. acquired a new stake in shares of Tenet Healthcare during the fourth quarter worth $49,001,000. Renaissance Technologies LLC boosted its position in shares of Tenet Healthcare by 579.2% during the 4th quarter. Renaissance Technologies LLC now owns 438,563 shares of the company’s stock worth $55,360,000 after purchasing an additional 373,988 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in shares of Tenet Healthcare by 225.4% during the 4th quarter. Bridgewater Associates LP now owns 407,194 shares of the company’s stock worth $51,400,000 after purchasing an additional 282,071 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $137.00 price target (down from $153.00) on shares of Tenet Healthcare in a research note on Tuesday, April 15th. Royal Bank of Canada upped their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. TD Cowen started coverage on shares of Tenet Healthcare in a research note on Wednesday, February 26th. They set a “buy” rating and a $175.00 price target on the stock. UBS Group raised their price target on Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Finally, Baird R W cut Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Tenet Healthcare has an average rating of “Moderate Buy” and a consensus target price of $174.94.

Insider Activity

In other news, Director J Robert Kerrey sold 5,001 shares of Tenet Healthcare stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $148.50, for a total value of $742,648.50. Following the transaction, the director now directly owns 22,377 shares of the company’s stock, valued at $3,322,984.50. The trade was a 18.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Up 2.8%

THC opened at $163.96 on Friday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.78 and a quick ratio of 1.70. The stock has a market capitalization of $15.23 billion, a price-to-earnings ratio of 5.09, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63. The business has a 50-day moving average of $131.99 and a two-hundred day moving average of $136.42. Tenet Healthcare Co. has a 12 month low of $109.82 and a 12 month high of $171.20.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating the consensus estimate of $3.11 by $1.25. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Tenet Healthcare had a return on equity of 21.88% and a net margin of 15.48%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.22 EPS. On average, research analysts expect that Tenet Healthcare Co. will post 12.24 earnings per share for the current year.

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.