Sivik Global Healthcare LLC Has $9.42 Million Stock Position in Tenet Healthcare Corporation (NYSE:THC)

Sivik Global Healthcare LLC boosted its holdings in shares of Tenet Healthcare Corporation (NYSE:THC) by 27.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,000 shares of the company’s stock after purchasing an additional 15,000 shares during the period. Tenet Healthcare accounts for approximately 5.1% of Sivik Global Healthcare LLC’s holdings, making the stock its 3rd largest holding. Sivik Global Healthcare LLC owned approximately 0.07% of Tenet Healthcare worth $9,415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Management One Co. Ltd. increased its holdings in Tenet Healthcare by 541.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 9,478 shares of the company’s stock valued at $1,213,000 after purchasing an additional 8,000 shares in the last quarter. Truist Financial Corp increased its stake in shares of Tenet Healthcare by 1.6% in the 4th quarter. Truist Financial Corp now owns 12,407 shares of the company’s stock valued at $1,566,000 after buying an additional 198 shares during the period. Alberta Investment Management Corp increased its stake in shares of Tenet Healthcare by 212.5% in the 4th quarter. Alberta Investment Management Corp now owns 25,000 shares of the company’s stock valued at $3,156,000 after buying an additional 17,000 shares during the period. LPL Financial LLC increased its stake in shares of Tenet Healthcare by 40.6% in the 4th quarter. LPL Financial LLC now owns 67,136 shares of the company’s stock valued at $8,475,000 after buying an additional 19,389 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Tenet Healthcare by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,532 shares of the company’s stock valued at $188,524,000 after buying an additional 272,906 shares during the period. 95.44% of the stock is owned by institutional investors and hedge funds.

Tenet Healthcare Stock Performance

THC stock opened at $168.12 on Friday. The business’s 50-day moving average price is $152.11 and its two-hundred day moving average price is $138.51. The company has a current ratio of 1.78, a quick ratio of 1.70 and a debt-to-equity ratio of 2.23. The firm has a market cap of $15.62 billion, a PE ratio of 11.12, a P/E/G ratio of 1.22 and a beta of 1.65. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $174.14.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $4.36 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $1.25. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.15 billion. Tenet Healthcare had a return on equity of 22.58% and a net margin of 7.09%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.22 earnings per share. As a group, research analysts forecast that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. UBS Group lifted their target price on Tenet Healthcare from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Bank of America lifted their target price on Tenet Healthcare from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. The Goldman Sachs Group raised their price target on Tenet Healthcare from $134.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Robert W. Baird restated a “neutral” rating and issued a $137.00 price target (down from $153.00) on shares of Tenet Healthcare in a research report on Tuesday, April 15th. Finally, Barclays raised their price target on Tenet Healthcare from $171.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, June 2nd. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tenet Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $182.24.

Insider Activity

In other news, Director J Robert Kerrey sold 5,001 shares of the business’s 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 sale, the director now directly owns 22,377 shares in the company, valued at $3,322,984.50. The trade was a 18.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paola M. Arbour sold 7,738 shares of Tenet Healthcare stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the sale, the executive vice president now directly owns 20,110 shares in the company, valued at approximately $3,479,030. This represents a 27.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,121 shares of company stock worth $8,846,305 over the last three months. Corporate insiders own 0.81% of the company’s stock.

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.