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

PharVision Advisers LLC bought a new stake in shares of Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,842 shares of the company’s stock, valued at approximately $359,000.

Several other institutional investors and hedge funds have also modified their holdings of THC. New Wave Wealth Advisors LLC purchased a new position in Tenet Healthcare during the fourth quarter valued at $343,000. Swedbank AB raised its stake in shares of Tenet Healthcare by 100.0% in the fourth quarter. Swedbank AB now owns 40,000 shares of the company’s stock worth $5,049,000 after buying an additional 20,000 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Tenet Healthcare during the 4th quarter valued at about $410,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Tenet Healthcare in the 4th quarter worth approximately $5,892,000. Finally, abrdn plc raised its stake in Tenet Healthcare by 29.0% during the 4th quarter. abrdn plc now owns 98,229 shares of the company’s stock worth $12,320,000 after acquiring an additional 22,066 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Insider Buying and Selling

In other Tenet Healthcare news, Director J Robert Kerrey sold 5,001 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were 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 in the company, valued at $3,322,984.50. This represents a 18.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paola M. Arbour sold 6,461 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $160.20, for a total value of $1,035,052.20. Following the completion of the sale, the executive vice president now owns 27,848 shares of the company’s stock, valued at $4,461,249.60. The trade was a 18.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,987 shares of company stock valued at $2,972,421. Company insiders own 0.81% of the company’s stock.

Tenet Healthcare Stock Performance

Tenet Healthcare stock opened at $168.77 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 1.78 and a debt-to-equity ratio of 2.25. Tenet Healthcare Co. has a twelve month low of $109.82 and a twelve month high of $171.20. The company’s 50-day moving average price is $134.69 and its 200-day moving average price is $136.46. The company has a market cap of $15.68 billion, a PE ratio of 5.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.63.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Guggenheim started coverage on shares of Tenet Healthcare in a research note on Wednesday, April 9th. They issued a “buy” rating and a $165.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of Tenet Healthcare from $134.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Barclays raised their price target on Tenet Healthcare from $161.00 to $171.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Finally, TD Cowen assumed coverage on Tenet Healthcare in a report on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.94.

Tenet Healthcare Company 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.